borrowing

New York is considering a novel solution to alleviate the lending needs of credit-strapped low-income consumers called “borrow and save,” a type of loan designed to simultaneously extend credit lines to the needy and help them rejoin the financial mainstream.

Americans are slowly but steadily borrowing more money, bringing to an end a five-year effort to cut household debt that has slowed consumer spending and the economy.

New York is considering a novel solution to alleviate the lending needs of credit-strapped low-income consumers called “borrow and save,” a type of loan designed to simultaneously extend credit lines to the needy and help them rejoin the financial mainstream.

Americans are slowly but steadily borrowing more money, bringing to an end a five-year effort to cut household debt that has slowed consumer spending and the economy.