good morning. This is Betty Lin-Fisher from Today’s The Daily Money.
According to a new report and analysis by the American Consumer Federation, Americans are owned in car loan debt, which leads to increased loan defaults and foreclosures. Consumers are owed more than $1.66 trillion in car loan debt. The average vehicle is currently selling for $50,000, with almost 20% of new car buyers selling over $1,000 a month on car loans. This morning, the CFA is calling on Congressional members, the Trump administration, the Federal Trade Commission and the Consumer Finance Protection Agency to end “exploitative practices” that include interest kickbacks to dealers and lenders.
I was the first to see the report exclusively.
What is the gender pay gap?
New US Census Bureau data shows that gender pay gaps widened for the second year in 2024, hitting the salary equity efforts of women across the country. The news follows a recent report that women, especially mothers of young children, are leaving the workforce at an astonishing rate.
How much do men make more than women?
Poverty is on the rise for the elderly
Poverty is on the rise, but only among older adults, according to the US Census Bureau’s annual poverty report. All other age groups remained reduced or stable.
Why are more elderly people falling into poverty?
📰Consumer stories should not be overlooked
About daily money
Every day, Daily Money will provide you with the best consumer and financial news from USA Today, breaking complex events, providing you with the TLDR version, and explaining how everything from the Fed rate to bankruptcy will affect you.
