Car loan debt in the U.S. is at a record high of $1.56 trillion. Between the Covid-19 pandemic, supply chain issues, alleged predatory lending practices, inflation, and the Federal Reserve's interest rate hikes, getting an auto loan has gotten more stressful, difficult and expensive. CNBC spoke with Chase Auto and Toyota Financial Services. Here's what they say is happening in the auto loan industry and what consumers can do to ensure they're protected.
If you have job, a chunk of each paycheck goes toward Social Security. The program is a lifeline for millions of Americans. In 2023, nearly 70 million Americans will receive a Social Security benefit every month. Those checks are especially important for disabled Americans, retirees and family members who lost a loved one. But the program is at risk. If action isn't taken, Americans might see a cut in their benefits starting in 2034.