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Two-Thirds of Middle-Income Americans Struggling with Rising Cost of Living: Primerica Report

Middle-income Americans are being crushed by soaring inflation, according to Primerica's latest survey. Over two-thirds say their incomes can't keep up with the skyrocketing cost of living, forcing nearly half to slash spending or stop saving entirely.

Everyday expenses like groceries, shelter, and energy have surged, with prices up over 18% since January 2021. Families are resorting to credit cards and sacrificing future savings, jeopardizing their long-term financial health. Real wages have dropped 2.2%, making it harder to afford basic necessities.

The economic strain is severe, with Americans paying hundreds more each month just to maintain their standard of living. This alarming trend highlights the relentless impact of inflation on household budgets. Read more to understand the full extent of this financial crisis. Read More.

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JPMorgan Warns 86 Million Customers They May Soon Have to Pay for Their Bank Accounts

Chase Bank is warning its 86 million customers that it may start charging for accounts due to new regulatory rules capping overdraft and late fees. Marianne Lake, CEO of consumer and community banking at JPMorgan, says these increased expenses will end free services like checking accounts and wealth management tools, with other banks likely to follow.

The new rules, which cap credit card late payments at $8 and overdraft charges at $3, also require banks to hold more reserves against mortgages and credit card loans, potentially affecting consumer loan availability. Whether these rules will be implemented depends on the upcoming November election and ongoing lawsuits from banks. Read Now.