Fintech Takes The $455B Reality of Financial Health
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Nov 12, 2025 Join Jennifer Tescher, founder and CEO of the Financial Health Network, as she reveals the alarming $455B that U.S. households paid in interest and fees last year. Discover how student loans and credit card debt have heightened financial fragility. She discusses the unintended consequences of Buy Now, Pay Later schemes and the risks of AI becoming merely a sales tool. Tescher also shares insights on new product standards that could reshape financial health, emphasizing the importance of balancing friction in finance for better consumer outcomes.
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Rising Consumer Fees Signal Economic Fragility
- US households paid $455B in fees and interest in 2024, a sharp increase driven by credit cards and student loans.
- Jennifer Tescher warns this is a canary in the coal mine signaling fragile household finances and macro risk.
Student Loan Resumption Deepens Inequality
- Federal student loan interest and fees more than doubled in 2024, adding heavy burden across age groups.
- Tescher emphasizes the unequal impact, hitting lower-income and Black and brown households hardest.
Policy Uncertainty Freezes Household Decisions
- The roller-coaster of forgiveness announcements created deep uncertainty that froze household decision-making.
- Tescher says uncertainty causes people to 'sit in place' and avoid life and financial choices.