How Did $1,400 Become the ‘New’ Average Emergency Expense?

In his latest conversation on the developing paycheck-to-paycheck economy, Anuj Nayar, financial health officer at LendingClub, weighs in on whether US consumers are equipped to handle an emergency expense, which PYMNTS data shows has more than tripled to $1,400 compared to the Fed's long-standing and outdated $400 figure.