skip to main content
skip to newscasts

Monday, March 31, 2025

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Elon Musk holds Town Hall event in downtown Green Bay Sunday supporting judge candidate; Rural advocates urge CA lawmakers to safeguard banking protections; Federal and state job cuts threaten FL workers' rights and services; Alabama counties lack high-speed internet and health access.

view newscast page
play newscast audioPlay

President Trump says there are ways for him to take a third term. New tariffs are scheduled for this week, but economists say they'll hurt buying power. And advocates say the Trans Day of Visibility is made more important by state legislation.

view newscast page
play newscast audioPlay

Rural folks face significant clean air and water risks due to EPA cutbacks, a group of policymakers is working to expand rural health care via mobile clinics, and a new study maps Montana's news landscape.

Report: Military service members pay more for car loans

play audio
Play

Monday, February 10, 2025   

Military borrowers pay higher costs and face greater financial risks than civilian borrowers when taking out credit to buy a car - according to a new report from the Consumer Financial Protection Bureau.

The report found service members tend to borrow larger sums, at higher interest rates over longer terms.

Rosemary Shahan, president of the Sacramento-based nonprofit Consumers for Auto Reliability and Safety, said yo-yo scams are common - where the victim signs an initial contract on good terms but then the dealer claims the financing fell through.

"And then they say, 'If you don't agree to sign this other contract where we're charging you for a lot of worthless add-ons you don't really want and a higher interest rate,'" said Shahan, "'then we'll report the vehicle stolen, and you'll be in trouble with your command, and it'll ruin your career.' "

The report finds many service members are young and far from family members who might help them negotiate a large purchase.

Last year under former President Joe Biden, the Federal Trade Commission finalized the CARS rule, which would combat dishonest sales tactics. Automakers sued and last month a federal judge put it on hold.

Shahan said the CARS rule would require dealers to tell you the price up front before you even go to the lot.

"It also has additional protections for military service members," said Shahan. "It prohibits car dealers from representing that they're somehow affiliated with the military, or have been approved by the military when that's not true, and would also require them to be more honest about the price of the add-ons and actually get your affirmative approval before adding them."

The Federal Trade Commission under the Trump administration will now have to decide whether to stand behind the rule and fight for it in court, or withdraw it.


Disclosure: Consumers for Auto Reliability and Safety Foundation contributes to our fund for reporting on Consumer Issues, Environmental Justice, Social Justice. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
Nearly one in eight Mississippi residents relies on the food assistance program, which faces $230 billion in proposed federal cuts. (Pixabay)

Social Issues

play sound

For nearly one in eight Mississippians, monthly SNAP benefits provide a critical lifeline, one now at risk as congressional Republicans propose $230 …


Social Issues

play sound

Today, Montanans will gather outside the Statehouse to observe International Transgender Day of Visibility, during a legislative session that has …

Social Issues

play sound

Florida's public employees face twin crises as federal collective bargaining rights suddenly disappear and state government jobs are cut, leaving …


Cuts to Medicaid are one way Congress could pay for extending tax cuts passed in 2017. It is estimated two-thirds of the benefits of the extension would go to the wealthiest 20% of Americans. (Adobe Stock)

Health and Wellness

play sound

To pay for the priorities of President Donald Trump's administration, like mass deportations and tax cuts, Republicans in Congress are considering …

Environment

play sound

A new study says agriculture co-ops are a strong economic force in states like South Dakota - but their future is murky, because of federal tax cuts …

Legislation across the country seeks to block transgender people from receiving health care, education, and even the right to publicly exist. (zera ruzgar/Adobe Stock)

Social Issues

play sound

Today is the International Trans Day of Visibility, to recognize the contributions of transgender people in society -- and raise awareness of the …

Health and Wellness

play sound

Wildfires are creeping closer and closer to health care facilities in California, including hospitals and nursing homes, according to a new study…

Social Issues

play sound

A strike set to begin today has been averted at Western Michigan University's Homer Stryker MD School of Medicine, known as WMed. Its resident …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021