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Holiday Spending Surges: Americans Turn to High-Interest Loans

11/29/2025

42 6 Full Breakdown

Summary

Story summary

Projected holiday spending will exceed $1 trillion, increasing Americans' borrowing.
About 66% plan to borrow for shopping, with some using payday loans averaging 300–400% APR.
The government shutdown has strained finances, boosting loan demand.
Payday lenders are using AI to speed approvals and target marketing, raising bias concerns.
About 20% of borrowers default, fueling cycles of reborrowing.

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Story summary

Projected holiday spending will exceed $1 trillion, increasing Americans' borrowing.
About 66% plan to borrow for shopping, with some using payday loans averaging 300–400% APR.
The government shutdown has strained finances, boosting loan demand.
Payday lenders are using AI to speed approvals and target marketing, raising bias concerns.
About 20% of borrowers default, fueling cycles of reborrowing.