ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
Mortgage applications from borrowers of color are denied more frequently than those from white borrowers, Andrea Riquier reports. |
In 2023, 27.2% of Black applicants were denied a mortgage, more than double the 13.4% denial rate for white borrowers. That's a full 10 percentage points higher than the rate for borrowers of all races, according to the analysis from the Urban Institute's Housing Finance Policy Center. |
My utility bill is paying for that?! |
Millions of Americans receive their monthly utility bill and just assume it's high because it's been sweltering outside. |
That's only part of the story, Medora Lee reports. Customers are also paying for everything from your utility company's trade association fees, to lobbying efforts to increase your rates, consumer advocates say. In the worst instances, according to legal allegations, you've also paid bribes to politicians. |
📰 More stories you shouldn't miss 📰 |
Finally, here's a popular story from earlier this year that you may have missed. Read it! Share it! |
Now that your 2023 taxes are paid, consider this sobering thought: The average American pays $524,625 in taxes in their lifetime, according to a recent study. |
The report also ranks states on lifetime tax costs. And if you live in the Northeast, you may want to sit down for this: |
New Jersey residents pay $987,117 in lifetime taxes, the analysis found, the highest tab in the nation. Washington, D.C., comes second, with a lifetime tax burden of $884,820. Connecticut and Massachusetts are third and fourth, at $855,307 and $816,700. |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | Mortgage applications from borrowers of color are denied significantly more frequently than those from white borrowers, a recent analysis shows. | | | | Even if you're not political, your utility bill may be. Advocates warn utilities may be quietly passing down their lobbying costs to consumers. | | | | With Tax Day approaching, here's a sobering thought: The average American pays $524,625 in taxes in their lifetime, according to a new study. | | | | The Fed's expected to start cutting rates on Sept. 18, and banks will follow right away. Savers should check CD rates now and lock in their rates. | | | | Global markets were rattled last week as uncertainty over the U.S. economy's health rippled across assets. | | | | It's hard for small businesses to stay open. Those big chains know exactly what they're doing, and what's worse, they know they can get away with it. | | | | The user experience in the 2025 Hyundai Tucson takes a significant step forward. | | | | More EVs are filling U.S. roads. A new index released for World EV Day shows the states with the best charging stations networks and most EV owners. | | | | More businesses are becoming cashless and not accepting checks. What's the downside for consumers? | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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