Almost half of Americans can handle a $1,000 emergency, such as a medical bill or car repair, by dipping into savings.

With most U.S. households spending more and paying their bills on time, their creditors are feeling more confident than ever. To hear the CEOs of the nation’s largest banks tell it this week, rarely has the American consumer been in better shape.

Installment loans and online small-business lending are quickly replacing payday loans as sources of credit for lower-income households, driven by regulatory changes and innovations in financial technology, according to a new study.