Bloomberg Surveillance · Tuesday, July 28, 2026
Laura Mayfield described the American consumer as resilient and 'scrappy,' actively seeking value in a challenging environment. Consumers are increasingly using Buy Now, Pay Later (BNPL) options, which she noted are favorable as they don't charge interest. Additionally, some are using delinquency as a cash flow management tool, particularly subprime borrowers in auto loans, who live in a state of delinquency without immediately defaulting.
“We've seen an increase in adoption of buy now, pay later options, which by the way, are a great payment method for consumers.”
“We're also seeing them, i think, use delinquency as a cash flow management tool.”
“So I think we're seeing a very scrappy, resilient consumer that's in problem solving mode.”