Gen Z Consumers Are Using Credit More, and Differently, than Their Millennial Counterparts at the Beginning of their Credit Journeys [Yahoo! Finance]
TransUnion (TRU)
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Source: Yahoo! Finance
LAS VEGAS, May 08, 2024 (GLOBE NEWSWIRE) -- Gen Z consumers are tapping into credit at higher levels than their Millennial counterparts did in the early stages of adulthood (ages 22-24). TransUnion (NYSE: TRU) released these findings today at the company's 2024 Financial Services Summit, attended by nearly 300 global financial services executives. The new TransUnion study, Solving for Z , explored credit usage by today's Gen Z consumers and compared it to similarly aged Millennials one decade ago . The study found that both Gen Z and Millennial borrowers faced early challenges in their credit journeys. 75% of surveyed Gen Z consumers said they had their finances negatively impacted by the pandemic-induced recession, while 60% of Millennials said the Global Financial Crisis had negatively impacted them. However, today's Gen Z consumers have also faced an additional challenge – a rapid rise in inflation. “Gen Z consumers have seen their finances significantly impacted by the pandem
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- 4/25/24 - Beat
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- 5/7/24 - Form 8-K
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