U.S. Market Close 09/10/2025

DOW 30  -0.48%  -220.42  45,490.92

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NASDAQ 100  +0.04%  +9.47  23,849.27

Why Most Used Car Buyers Aren’t Financing Their Vehicles

Experian’s Q2 2025 data shows most used cars are bought with cash, not loans, as high interest rates push buyers away from financing.

You, like me, may be under the impression that financing a vehicle is simply something that most drivers do without thinking about it too much. After all, it’s how the overwhelming majority of people buy new vehicles. New Experian data, published in the Q2 2025 State of the Automotive Finance Market, reveals that while 80.27% of new vehicles sold in Q2 had some sort of financing attached to them, used vehicles accounted for around half that percentage. With 37% of used vehicles sold in Q2 2025 being financed, it turns out that financing a used vehicle is far from the norm.

Read more at AUTOBLOG

LIFE Survey Report – July 2025: Federal Reserve Bank of Philadelphia

This report is part of a quarterly series on key observations from the Labor, Income, Finances, and Expectations (LIFE) Survey. Data from the survey provide insight into consumers’ recent financial lives and their future expectations.

The data presented in the July 2025 LIFE Survey Report reveal ongoing declines in respondents’ net optimism about their income as well as their general outlook compared with last year. We note several key observations about consumers’ financial lives over the past 12 months, including:

Net optimism about income decreased significantly from April to July, reaching its lowest level since October 2023.

The shares of respondents cutting discretionary spending, cutting essential spending, or partially paying or skipping bills remain higher than the previous year.

Respondents’ net sentiment continued to decrease and is at its lowest point since the beginning of the LIFE Survey. For the first time, sentiment is negative across all demographic groups.

Read more at Federal Reserve Bank of Philadelphia

Move Over, America: Emerging Markets May Be The Real Lands Of Opportunity

EMs have been among the world’s top-performing stocks this year, buoyed by hopes for lower stateside interest rates, a weaker US dollar, and cheap valuations.

Emerging stocks in Europe and Latin America still look cheap both in absolute terms and relative to their history.

US earnings have marked the strongest growth, but the declining dollar adds risk to the country’s investment case for international investors

Investing in emerging markets (EMs) certainly sounds sensible. They have plenty of untapped potential, yet still trade for decent prices. Thing is, that logic has drawn in plenty of investors – only to disappoint many of them. In previous years, investors would’ve been better off investing in select developed markets… But I’ve found signs of that trend shifting.

Read more at FINIMIZE

93% of US workers think employers should offer financial wellness tools — here’s how to take the lead yourself

A recent survey [1] found that a staggering 93% of U.S. workers think employers should provide financial wellness programs. That number doesn’t just reflect a majority — it’s near-universal agreement.

Financial wellness programs are workplace benefits meant to help employees save smarter, manage money better and ease financial stress. Think retirement plans, student loan repayment assistance, life and disability insurance, or even access to budgeting tools and financial education.

In today’s economy, where inflation is eating into paychecks, tariffs are raising prices and uncertainty clouds job security, the need for this type of support is pervasive.

Read more at YAHOO FINANCE

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Here's what happens when private equity buys homes in your neighborhood

Daniel Erb became a corporate landlord kind of by accident. It started in 2020, when he received his first bonus as an investment banker. It was more money than he was used to. He wanted to invest in real estate, so he called his cousin, a research analyst at BlackRock, for advice.

As they talked over options, his cousin showed him a striking chart of the number of "housing starts" in the U.S. since 1950 (basically the number of new houses and apartments built each year). It showed that the last 10 years had the fewest starts since the 1960s, even though the U.S. population was now much larger.

The 2010s saw the fewest “housing starts” on record

New privately-owned housing units started per decade

Read more at NPR.ORG

Why Some Americans Don’t Invest in the Stock Market

This report presents findings from the 2025 January Labor, Income, Finances, and Expectations (LIFE) Survey on stock market participation and explores the factors that discourage individuals from investing.

We find that, among nonowners in the underrepresented groups, limited financial knowledge was reported as a major barrier to investing, significantly more often than nonowners from their demographic counterparts. Indeed, these group differences in subjective financial knowledge were reflected in an objective measure of financial literacy across the full sample, with individuals from underrepresented groups displaying lower levels of financial knowledge and/or confidence in basic investing concepts. The results suggest the importance of improving financial literacy to help people make informed choices about their personal finances and investing decisions.

Read more at Federal Reserve Bank of Philadelphia

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Contact Chuck.Sockol@mcrc.biz to discuss your recovery needs

Can You Trust Fintech Apps with Your Money? What Every User Should Know

A U.S. consumer survey in 2024 found that 83% of internet adults have used a fintech app for digital payments.

There is no doubt that fintech apps have effortlessly revolutionized global finance, making financial management more accessible to everyone. From mobile banking and international money transfer apps to investment, P2P payments, and budgeting apps, there is a good chance you have a fintech app on your smartphone right now.

For context, an S&P Global Market Intelligence’s U.S. consumer survey in 2024 found that 83% of internet adults have used a fintech app for digital payments. After a quick look at that number, you might want to conclude that if that many people could trust their fintech apps with their money, maybe you could too.

Read more at TECHLOY.COM

Trump Administration Halts I.R.S. Crackdown on Major Tax Shelters

The Treasury Department is rolling back efforts to shut down aggressive strategies used by America’s biggest multinational companies and wealthiest people.

The Trump administration is quietly dismantling efforts by the Internal Revenue Service to shut down a slew of aggressive tax shelters used by America’s biggest multinational companies and wealthiest people.

The administration, bowing to pressure from industry groups, right-wing activists and congressional Republicans, is quickly rolling back several I.R.S. law enforcement efforts, including one aimed at a lucrative tax shelter used by companies like Occidental Petroleum and AT&T.

The I.R.S. crackdown was projected to raise more than $100 billion over 10 years.

Read more at NY TIMES

INFiN's 2025 MoneyTrends Conference

October 26-October 29

Contact: LeeAnn Thompson, Director of Member Services

lthompson@infinalliance.org

How US Lenders Are Responding To Rising Credit Needs In The Gig Economy

The gig economy has become a major source of income for millions of Americans. Rideshare drivers, delivery couriers, freelance workers, and online contractors now make up more than one-third of the US workforce. That trend creates challenges when gig workers apply for a loan. Unlike traditional employees, their income is irregular, harder to document, and often misunderstood by lenders.

A growing number of financial institutions are adjusting. Banks, credit unions, mortgage lenders, fintech platforms, and payday lenders are introducing new solutions to meet the borrowing needs of this population.

Read more at FINIMIZE

Deportation Fears Are Fueling Money Transfers to Latin America

Money transfers to Guatemala, Honduras and other nations have increased in recent months, totaling billions of dollars. Undocumented migrants in the United States say they are sending money to relatives while they can.

The effects of President Trump’s immigration crackdown can be seen at deserted Mexican border shelters, in the plummeting numbers of illegal crossings and at workplaces raided by federal agents.

But to get a glimpse of the alarm jolting Latin American immigrant communities in the United States, migrants, rights workers and experts say, follow the money.

“There is fear,” said Julio Fuentes, a 35-year-old undocumented migrant from Guatemala who works in California as a plumber. “Because if they catch you, then you can’t do anything. And they send you home with nothing.”

Read more at NY TIMES

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Walmart’s OnePay Adds $35 Mobile Plan to Broaden Fintech Super-App

Walmart’s fintech arm OnePay has pushed into wireless, introducing a $35 monthly plan with unlimited 5G data, talk and text, making the U.S. retailer the latest brand to bolt telecom services onto a digital finance platform.

The plan, branded OnePay Wireless, is delivered through the OnePay app and runs on AT&T’s network under a wholesale agreement brokered by Gigs, a Berlin- and San Francisco-based Telecom-as-a-Service start-up that supplies the infrastructure for white-label mobile carriers. The offer, which went live this week, is pitched as a simple, app-based add-on that customers can activate in minutes.

OnePay, launched by Walmart in 2021 with venture backer Ribbit Capital, has been built up through acquisitions including neobank One Finance and payroll app Even. It has become Walmart’s flagship consumer-finance vehicle, rolling together debit rewards, high-yield savings, a digital wallet, bill-pay, and domestic and cross-border peer-to-peer transfers. Earlier this year it added credit cards via a renewed partnership with Synchrony, with co-branded and private-label cards expected to hit the market later in 2025.

Read more at FINANCE FEEDS

Consumer Protection Tuesday: How to Talk to Your Kids About Crypto Scams in Games and Apps

Kids and teens are spending more time online in games and apps, and so are scammers. Whether it’s a fake giveaway, a hacked mod, or a too-good-to-be-true investment offer, these scams are designed to steal personal info or digital funds. Talking to your kids can make all the difference.

This post is part of a weekly Tuesday series at Coinbase about the latest consumer protection and security measures for crypto owners.

At Coinbase, we’re on a mission to help update the financial system to make it safer and more secure. While only 0.14% of blockchain transactions are used for illicit activity, and cash remains the preferred medium for illegal transactions, crypto security is always a top priority. Coinbase maintains a robust compliance program, which includes Know Your Customer (KYC) checks, sanctions screenings, suspicious activity reporting, and strong law enforcement partnerships to detect and prevent illicit activity on our platform.

Read more at COINBASE

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Card spending grows by just 0.5 per cent in August, but base rate cut helps ease pressure on personal finances

• Consumer confidence in the UK, European and global economy all rebounded in August, following the base rate reduction
• Beauty posted 53 months of consecutive growth, rising 15.6 per cent
• Furniture store spending increased 11.6 per cent, the greatest uplift since March 2022
• Digital content & subscriptions were boosted by 5.6 per cent, amid the success of Netflix’s smash hit KPop Demon Hunters
• One in three UK consumers are using AI to help with household budgeting and planning
• The Barclays Consumer Spend report combines hundreds of millions of customer transactions with consumer research to provide an in-depth view of UK spending

Consumer card spending grew just 0.5 per cent year-on-year in August, down from 1.4 per cent in July and lower than the latest CPIH inflation rate of 4.2 per cent. Essential spend declined, however discretionary spend rose 2.0 per cent, as clothing, furniture and health & beauty stores all performed well. Insperiences and leisure both saw an uplift, led by entertainment and digital content & subscriptions, with the latter helped by the success of KPop Demon Hunters. 

Read more at BARCLAYS

How big is the gender wage gap now? What new Census data shows.

New U.S. Census Bureau data shows the gender wage gap widened in 2024 for the second year in a row, marking a blow to women's pay equity efforts nationwide. The news follows recent reports that women, particularly mothers of young children, are leaving the workforce at an alarming rate.

The data, released Sept. 9, shows the female-to-male earnings ratio comparing the median earnings of women and men, both working full time, year-round. The ratio fell in 2024 to 80.9% from 82.7% in 2023. In 2022, the ratio was 84%.

In other words: For every dollar a man makes in America, a woman made 84 cents in 2022, 83 cents in 2023 and 81 cents in 2024.

Read more at USA TODAY

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Lottery spending is growing. Residents shell out the most in these states.

The Powerball jackpot swelled to nearly $1.8 billion before two lucky tickets hit the winning numbers on Saturday night, Sept. 6. Powerball says the bit winners bought their tickets in Texas and Missouri, but some states have a larger share of participants than others.

Massachusetts leads the way in lottery spending, according to a LendingTree analysis of government data. Residents there shell out an average of $915 a year on tickets they hope will earn them big bucks. Rhode Island residents come in second, spending $573 annually.

North Dakotans are perhaps the most realistic about their chances of winning. They spent just $50 on lottery tickets in 2023, the lowest of any other state.

But that may be because lottery tickets are harder to access there, according to LendingTree's chief consumer finance analyst Matt Schulz, who noted that people in urban areas have more opportunities to purchase lottery tickets than those in rural areas. 

Read more at CBS.com

The Debit-Card Rebellion

The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here.

Sometime around 2007, Marc Fusaro, then a professor at East Carolina University, sat in a friend’s kitchen and explained that he was researching the methods people use to rein in their credit-card spending. The friend immediately understood. He walked over to the freezer and pulled out a block of ice. Submerged in the middle, Fusaro realized, was a credit card.

For years, Americans have struggled with unrestrained spending on credit and the compounding debt that can come with it. Freezing your credit card (literally) is one way around it. But many Americans have turned to a different method: using a debit card. Around the turn of this century, credit accounted for more than two-thirds of card purchases and debit for about one-third, according to data from The Nilson Report, an industry-research publication. Then, a 2009 law curtailed credit-card access for people under 21. 

Read more at The Atlantic

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Mortgage Demand Soars to the Highest Application Levels Since 2022

Key Takeaways

• Home buyers and refinancers applied for mortgages at the highest level since 2022 as mortgage rates fell to their lowest since last October.
• Mortgage volume was higher last week than the same time last year as borrowers rushed to take advantage of falling rates.
• Significant increases were seen in applications for both purchases and refinancing, especially for borrowers with larger loans.

Mortgage rates hit their lowest levels since last October and people took notice—applications for home loans surged last week.

According to Mortgage Bankers Association data, the 30-year fixed mortgage rate declined for a second week, falling to 6.49% in the week ending Sept. 5. The decline sent signals to borrowers, who applied for 9% more mortgages than the previous week.

Read more at INVESTOPEDIA

Margins, Loyalty and Risk: The New Credit Card Issuer’s Playbook

Executive Summary

• While headline numbers look steady, consumers are carrying more debt and using BNPL for essentials, requiring issuers to rethink traditional FICO-based risk models.
• Major issuers are quietly cutting rewards value while premium players double down on ecosystem lock-in, forcing smaller institutions to compete through simplicity and local partnerships.
• Regional banks and credit unions are surviving margin pressure by targeting niche segments, modernizing through fintech partnerships, and treating cards as platforrms rather than standalone products.

Read more at The Financial Brand

Yes, Smaller Institutions Can Compete In Small Business Credit Cards

Executive Summary

• Small businesses are increasingly relying on credit cards to manage cash flow, cover expenses, and support growth.
• Community banks and credit unions have a competitive edge through personal relationships and tailored financial tools.
• Offering practical features like spend controls, accounting integration, and cashback rewards can drive loyalty and long-term profitability.

Small businesses across the U.S. are facing increasing financial challenges, driving demand for better ways to manage volatility and short-term liquidity. For many, credit cards have become essential for covering expenses, smoothing cash flow, controlling spending, and supporting growth.

"Small businesses in the U.S. are dealing with tighter cash flow cycles, increasing vendor demand for faster payments, and rising employee-related operational costs," says Joaquín Argüello, executive vice president, retail and institutional banking head at Terrabank. "Our clients want financial tools that are flexible, easy to manage, and can scale with their growth."

Read more at The Financial Brand

Nearly 1 in 5 People Who Took Financial Advice From AI Lost at Least $100 Doing So, Survey Finds

Key Takeaways

• A new survey found that about 1 in 5 Americans said they've lost more than $100 by following financial advice generated by an artificial intelligence (AI) chatbot.
• Applying broad financial information from an AI model to your specific financial situation is risky, one financial advisor said.
• Models sometimes provide outdated information, such as when tax laws change, or even hallucinate data that doesn't exist.

Some investors are turning to ChatGPT and other AI chatbots to help them manage their finances, rather than sitting down with a certified financial planner (CFP). But is that a good idea?

A new survey from Pearl.com, an AI firm, suggests it might not be. According to the survey, 19% of Americans have lost more than $100 by following financial advice generated by an AI chatbot.

Read more at INVESTOPEDIA

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El Vecino provides a turnkey solution with a strong brand, built-in provider network, and all the support you need. EV

Credit Card Fraud is Rising—Is It Time to Rethink How We Pay and Receive Payments?

Why ACH is Becoming a Smarter Choice Over Credit Cards

Warren Buffett, one of the most respected investors in history, has a straightforward piece of financial advice: before investing, pay off your credit card debt. As he put it, “I can’t make 18% return”—a reference to the high interest rates many credit card holders face. With credit card fraud on the rise and annual percentage rates (APRs) soaring past 22%, consumers and businesses alike are looking for safer, smarter payment options.

Beyond APRs, consumers are also growing increasingly dissatisfied with credit card rewards programs. A recent Consumer Financial Protection Bureau (CFPB) report highlights growing frustration with the lack of transparency and devaluation of credit card rewards. Similarly, PYMNTS reports a dramatic increase in complaints about card rewards, with consumers struggling to redeem points for meaningful rewards.

With fewer benefits and high costs associated with credit cards, consumers are beginning to explore alternative payment methods (APMs). One such method—Automated Clearing House (ACH) payments—is emerging as a preferred choice for managing personal finances.

Read more from ValidiFI

How to Find New Crypto Coins | Tools & Tips for Early-Stage Investing 2025

• Early-stage crypto projects can be identified through launchpads, developer platforms, and aggregator sites.
• The risk of buying new crypto coins is often higher than it is with more established coins.
• Carefully review a project's team and advisors, audit status, and supply model before buying in.

Imagine first investing in a company like Apple or Google when it was based out of a Silicon Valley garage. Getting in on the ground floor offers the potential for exponential growth, and the same can be true in the crypto world. If you can find the next Bitcoin or Ether, for example, while the coins are just getting ready to launch, you might be able to buy in at a far lower price than what the coin eventually grows to.

Read more at BUSINESS INSIDER

One Counter, Many Services: EL VECINO

Building Trust Through Convenience & Connectivity

by Francisco Arellano, Fractional-COO

In immigrant communities across the U.S., convenience isn't just a luxury — it’s a necessity. Whether it’s sending money back home, paying utility bills, or staying connected to loved ones, people need quick, affordable, and trustworthy access to everyday services. That’s exactly what El Vecino offers — all from a single, familiar counter.

Convenience That Builds Loyalty

At El Vecino, we don’t see our customers as one-time visitors. Many stop by weekly — even daily — because we offer the services they need most, all in one place:

• Money transfers to Mexico and Latin America
• Prepaid mobile top-ups and SIM activations
• Bill pay (domestic and international)
• Check cashing and financial transactions 
• Phone sales and wireless plans
• Phone accessories + so much more ... 

Read more at EL VECINO

Strengthen Collections, Improve Cash Flow & Enhance Customer Experience: PAYLIANCE

A Better Lending Experience

A better lending experience is rooted in offering the right payment method based on your customer’s needs. While ACH has broad applicability, the benefits of enabling instant payments via debit card with real-time funding are undeniable. Payliance’s integrated solution helps lenders deliver the speed of payments today’s borrower expects, while improving repayment rates, streamlining operations, and improving portfolio performance.

Key Benefits for Lenders

Operational Excellence

• Faster Payments: Fund a loan or collect a payment anytime – instant loan funding and repayment with same debit card
• Increase Lending Velocity: Transactions authorized immediately – mitigates the cost of ACH returns
• Enhance Loan Approvals: Verify card eligibility for loan funding and repayment in real-time through Card Verify

Read more at PAYLIANCE

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