Car debt is piling up for consumers, according to a Bloomberg News report. The outlet found that the amount of negative equity, or the amount that debt surpasses a vehicle's value, is building up. This has led many car owners to show up at lots underwater, which is also known as "upside down," as they try to trade in their debt-burdened cars. The situation has emerged against a backdrop of rising interest rates, with the average new-car interest rate hitting 6.9 percent in January, up from 4.3 percent a year earlier, according to Edmunds.
A new piece of legislation could change the credit card system.
Rising gas prices continue to worry Americans.
A new report showed that a small portion of American homeowners chose not to purchase homeowners insurance as premiums rise.
The federal government is fining American Airlines $4.1 million for dozens of instances in which passengers were kept on board planes without a chance to exit during long ground delays.
Heather Barnett, editor with Money Crashers, joined Cheddar News to discuss ways to cut down costs when living alone and what apps to use to stay on budget.
Sean Burgess, chief claims officer with Lemonade, joined Cheddar News to provide tips on how to handle finances and expenses with roommates and which apps are best to use when doing so.
Tesla is defending itself in the first trial against its autopilot assistance feature.
3M has reportedly reached a tentative agreement to pay over $5.5 billion in a settlement from a lawsuit that claimed it sold defective combat earplugs.
Spirit Airlines will pay up to $8.3 million in a class action lawsuit over hidden fees.
Flights in the UK experienced delays after technical issues.
