(CHATTANOOGA, Tenn.) -- The United Auto Workers achieved a landmark victory last fall, when a strike against the Big 3 U.S. carmakers delivered substantial gains for nearly 150,000 employees.

The UAW stands poised for its next major test this week: A union election at a foreign-owned car plant in the South, where its workers have struggled to gain a foothold for decades.

Roughly 4,000 voters at a Volkswagen facility in Chattanooga, Tennessee, begin casting their union ballots today.

Experts who spoke to ABC News called the election an inflection point not only for the UAW but for the U.S. labor movement.

In the aftermath of the so-called “Year of Strikes” in 2023, experts said, the showdown in Chattanooga could illustrate whether that surge of labor activity can translate into membership growth and the worker gains likely to come with it.

"The stakes couldn’t be bigger," Stephen Silvia, a professor at American University and the author of "The UAW's Southern Gamble," told ABC News.

Here’s what to know about what the union election in Chattanooga means for the UAW and workers nationwide:

UAW aims to turn last year’s strike into a membership boom

The high-profile standoff between UAW and the Big 3 last year imposed billions of dollars in losses for the companies and put thousands of workers temporarily out of work. But the gamble paid off, helping the union achieve historic wage gains and other long-sought reforms.

The agreement prompted some non-union competitors to offer pay increases and other benefits, putting their employees in closer alignment with UAW members. Honda, Nissan and Tesla are among the car companies that raised wages for U.S. employees after the UAW deal.

The breakthrough also triggered a wave of UAW organizing, the union says. Over 10,000 non-union autoworkers have signed cards in support of the UAW in recent months and organizing campaigns have broken out at more than two dozen facilities, the union said in a statement last month.

The outcome of this week’s union election at Volkswagen will go a long way in determining whether the union’s momentum continues to crest or fizzles out, experts told ABC News.

In response to ABC News' request for comment, Volkswagen said it supports the union election process.

"We respect our workers' right to a democratic process and to determine who should represent their interests," the company said. "We fully support an NLRB vote so every team member has a chance to a secret ballot vote on this important decision. Volkswagen is proud of our working environment in Chattanooga that provides some of the best paying jobs in the area."

UAW did not immediately respond to ABC News' request for comment.

A wave of union victories would bolster the UAW’s membership, which has dropped steadily from a peak of 1.5 million workers in 1970 to 370,000 last year.

"This is huge for the UAW because they’re carrying so much momentum," Art Wheaton, director of labor studies at the Worker Institute at Cornell University, told ABC News. "The timing is now."

Union organizing pursues foothold in the South

The location of the Volkswagen plant in the union-unfriendly South holds significance for the prospects of a resurgent labor movement aiming to make inroads there, experts told ABC News.

For decades, states across the South have imposed so-called "right-to-work" laws, which give workers the opportunity to opt out of union membership in the event that their workplace votes to join a union.

Those measures make up part of a larger set of legal and cultural barriers that make union organizing more difficult in the South, experts said.

"Organizing is extremely difficult in the South not only because of management opposition but also workers don’t have as much experience with unions," Harry Katz, a professor of collective bargaining at Cornell University, told ABC News.

The UAW campaign exemplifies the significance of organizing in the South. Roughly 48% of U.S. autoworkers belong to the unionized Big 3 automakers –--Ford, General Motors and Stellantis, the owner of Chrysler, Wheaton said. Meanwhile, more than half of autoworkers are employed at foreign-owned, largely non-union car companies, many of which are located in the South.

The non-union companies put downward pressure on wages and benefits, making it more difficult for the UAW to bargain for gains at plants where it represents workers and in turn help preserve decent standards across the industry, he added.

"They need to have more people unionized so they have a larger impact on raising the wages for everyone," Wheaton added.

Labor movement seeks growth after 'Year of Strikes'

More than 500,000 workers went out on strike nationwide in 2023, more than doubling the figure recorded a year earlier, according to Cornell University's School of Industrial and Labor Relations.

The sharp escalation in worker protests arose from widespread dissatisfaction with sluggish wage gains, which in many cases had failed to keep up with rapid price hikes, experts previously told ABC News.

The surge of activity, however, failed to translate into union membership growth. Only 10% of U.S. workers belonged to unions last year, little changed from the year prior, U.S. Bureau of Labor Statistics data showed.

The union vote at Volkswagen, which arrives months after the UAW strike against the Big 3, could show whether militant activity brings union growth, Silvia said.

"This is a test case for whether making gains at the bargaining table can then add to your membership down the road,” he added.

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(NEW YORK) -- PepsiCo Inc has initiated a voluntary recall of some sugar-free and caffeine-free Schweppes Ginger Ale products because they contain "full sugar," according to the U.S. Food and Drug Administration.

The FDA said in a report earlier this month that the company voluntarily issued the recall on March 9. According to the report, the recall impacts 233 cases of 7.5-fluid-ounce cans (221 milliliters) cans that were shipped to Maryland, Pennsylvania and West Virginia.

The impacted products contain the code May 20 24 MAY20240520VS02164 - MAY20240550VS02164, the FDA said.

PepsiCo made the decision after an internal investigation discovered products labeled "zero sugar" in fact contained "full sugar product," the FDA reported.

It was not clear whether the recalled soda had been removed from store shelves.

No injuries or deaths have been reported and the current status of the recall is ongoing.

ABC News has reached out to PepsiCo for comment on the recall.

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(NEW YORK) -- At the end of 2023, the federal government said it would update the Free Application for Federal Student Aid form, better known as FAFSA, ahead of the 2024-2025 school year. The change came three years after Congress mandated the update in 2020.

But four months since the changes went into effect, the updated form has brought on more hiccups and some headaches for colleges, administrators and parents.

What is the FAFSA?

The FAFSA is an online form used by schools, colleges and universities -- and sometimes, private scholarship programs -- to determine a student's eligibility to receive federal financial aid, which may include grants, loans, scholarships and work-study program funds. Multiple states also use the FAFSA form to figure out the amount of state financial aid a student can receive as well.

A student needs to file a FAFSA form each school year they wish to receive financial aid.

What changes were made to the FAFSA form?

The FAFSA previously asked students and their parents hundreds of questions to determine eligibility for federal financial aid, loans and work-study programs.

The revamped form is now simplified to include fewer than 50 questions -- down from more than 100 questions -- adds space to list up to 20 colleges instead of limiting it to 10 schools, and improves access by offering the form in 11 languages instead of only in English and Spanish.

To fill out the FAFSA, students and parents have to consent to allow information from the IRS to be imported into the FAFSA online form.

In addition, the FAFSA now features the Student Aid Index (SAI) in lieu of the Expected Family Contribution. The index will utilize a different formula to determine a student family's qualification for aid, expand the number of students eligible for aid, and not shut out students and families who are not required to file federal income taxes.

What problems have students and parents encountered since the FAFSA was updated?

Unlike in past years, where students could start filling out the FAFSA in October, access to the new form was delayed until January as the federal government completed the form's update. This, in turn, impacts when students will find out what financial aid packages they can receive for the upcoming school year and ultimately, their decisions on which schools to attend in the fall. The shaky rollout has also pushed multiple colleges and universities to extend their enrollment deadlines.

Even after students and families were able to submit their FAFSA forms, many reported encountering bugs and technical glitches during the process. Data from the Department of Education shows applications this year are down nearly 60% from past years.

What can parents do?

The Department of Education encourages all students considering college to submit a FAFSA form, even if they don't think they'll be eligible or qualify for financial aid, and to apply for scholarships as early as possible in their high school career.

Parents can use the department's online tools like the College Scorecard and the Federal Student Aid Estimator to get a better idea of future financial costs and the type of financial aid for which a student may qualify.

Parents can also consider college savings plans, some of which are state-sponsored, and other programs that may be available such as prepaid tuition plans.

Can I still fill out a FAFSA form?

The deadline to complete and submit a FAFSA form for the 2024-2025 school year is 11:59 p.m. CT on June 30, 2025. Corrections or updates may be submitted by 11:59 p.m. CT on Sept. 14, 2025. Individual states, colleges and schools have their own deadlines. To see what the deadline is for each state, visit the StudentAid.gov website.

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(NEW YORK) -- Shares of Truth Social soared after the company’s market debut last month -- but the stock price has plummeted since then.

After vaulting from an initial offering price of about $50 to a peak of nearly $80 in late March, the share price has dropped a staggering 68%. In early trading on Tuesday, the price stood at about $25.

The sharp decline traces primarily to the company’s status as a so-called meme stock, which appeals to investors on the basis of ideology rather than financial outlook, experts told ABC News. Since Truth Social suffers continued losses and lacks a path to profitability, the stock risks selloffs on even mildly negative news, they said.

“The political hope is meeting a financial reality,” Tyler Richey, an analyst at Sevens Report Research, told ABC News.

Truth Social did not immediately respond to ABC News' request for comment.

The stock performance holds significant financial implications for former President Donald Trump, whose 60% stake in the company could ultimately deliver a multi-billion dollar windfall. Truth Social shares make up a large portion of Trump’s overall net worth, according to Fortune.

During its initial days on the market, the stock rallied. The price climbed 16% on the company’s first day of listing and another 14% on its second. That growth granted Truth Social a valuation of more than $8 billion, even though the company has yet to turn a profit and generates quarterly revenue of barely $1 million.

“The valuation is just astronomical,” Richey said. “So it’s coming back to Earth.”

Truth Social, listed as ticker DJT, remains far smaller and less financially robust than its rivals in the crowded social media sector.

Research firm SimilarWeb estimates the company drew 5 million website visitors in February, which puts it well below the roughly 2 billion monthly active users reported by Instagram. TikTok boasts at least 1 billion monthly active users, the company said in 2021.

Truth Social generated roughly $3 million over the first nine months of 2023, government filings show. Meanwhile, the company reported $49 million in net losses over that period. By comparison, Instagram-parent Meta delivered nearly $135 billion in revenue last year, company earnings revealed.

“Truth Social is not attracting and holding users and it’s not attracting significant advertising revenue,” Jay Ritter, a professor of finance at the University of Florida, told ABC News. “Its current business model is a colossal failure.”

The absence of financial underpinning leaves the stock vulnerable to major declines even in response to mildly negative or routine news, experts said.

On Monday, the company released a government filing meant to formally establish millions of shares owned by Donald Trump and other investors. Investors holding shares in the pre-merger company that took Truth Social public could eventually convert those holdings into shares of Truth Social, the filing said.

The routine filing did not increase the number of outstanding shares but it still raised alarm among some investors for the potential to do so, Ritter said.

“This was going to happen sooner or later,” Ritter said. “In that regard, it wasn’t really news.”

The filing appeared to send the stock price tumbling. Shares of Truth Social fell 18% on Monday.

When traders buy into a stock for non-financial reasons, moments of risk can turn into a collapse, in part because opportunistic traders abandon the stock on the way down, experts said.

“There’s a domino effect,” Ritter said. “Selling led to more selling.”

The stock difficulty has coincided with financial challenges for Trump. Earlier this month, the presumptive Republican presidential nominee posted a $175 million bond in a New York civil fraud case.

Trump can’t sell or leverage his stake in Truth Social for at least six months due to a lockup provision intended to prevent a rapid selloff that could shake investor confidence.

Supporters of Trump could seek to reverse the company’s declining stock price, Richey said.

“You may have some die-hard supporters come in and support the stock,” Richey said, noting that such a move could elicit a response from skeptics of Trump or the company.

“In this political environment, there’s just as many people that would bet against the stock as would be for it,” Richey said.

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(NEW YORK) -- Starbucks is unveiling brand-new Starbucks Refreshers with a fiery new spring twist.

Starting Tuesday, April 16, Starbucks will unveil new Spicy Lemonade Refreshers in three different flavors: Spicy Dragonfruit, Spicy Pineapple, and Spicy Strawberry along with a new Spicy Cream Cold Foam, the coffee chain announced on Monday.

According to the announcement, the new innovations came about to hop on to the "swicy" trend of mixing sweet and spicy flavors in unique manners.

"The new Spicy Lemonade Refreshers bring together the sweetness of a Starbucks Refreshers® Beverage, the zest of lemonade, and the heat of Starbucks Spicy Chili Powder Blend to create a deliciously refreshing sip with absolutely no chill," read the announcement.

The Spicy Dragonfruit option uses mango and dragonfruit flavors as well as pieces of real dragonfruit mixed in. For the spice, the drink includes zesty lemonade as well as Starbucks Spicy Chili Powder Blend.

The Spicy Strawberry refresher blends Strawberry and acai flavors with real strawberry pieces mixed into the same zesty lemonade and Starbucks Spicy Chili Powder Blend. The Spicy Pineapple option uses the same zesty lemonade and chili powder blend to mix in pineapple and passion fruit flavors with real pieces of pineapple.

For a final customization, the new Spicy Cream Cold Foam, can be added to any Starbucks beverage. The foam is made with Starbucks classic cold foam and the same Spicy Chili Powder Blend.

The new sweet and spicy selections will be in stores for a limited time this Spring.

Starbucks Reserve locations in New York, Chicago, and Seattle are also offering a sweet and spicy hot honey version of Starbucks Espresso Martini and Affogato.

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(NEW YORK) -- Are we entering a "performance arms race" between internal combustion engine and electric sports cars?

Some engineers and top auto executives are beginning to question the superiority of electric sports cars, which have become a contentious topic among enthusiasts.

This week, Lawrence Stroll, executive chairman of Aston Martin, told reporters at the company's U.K. headquarters that Aston is delaying its shift to electrics, focusing instead on plug-in hybrids.

"We are going to invest much more heavily in our PHEV program to be a bridge between full combustion and full electric," Stroll said, according to Road & Track.

Stroll noted the "real lack of consumer demand" for electric sports cars. "We speak to our dealers, we speak to our customers -- when you have a small network you can communicate easily. And everyone said we still want sound, we still want smell," he said.

British marque McLaren, known for its seductive -- and fear-inducing -- supercars, recently launched its 750S coupe and spider, successors to its widely successful 720S. The brand has one hybrid on sale, the Artura, which launched in 2022. Customers, however, still demand the palpable acoustics of the raucous twin-turbo 4.0-liter V8 positioned behind the driver's seat. The 750S may be the epitome of internal combustion engine (ICE) ingenuity.

Chief engineer Sandy Holford said his team truly raised the bar on the 750S, making it the lightest and most powerful series production McLaren to date. "It offers more thrills, more power and more torque, as well as improved ergonomics and engagement," Holford said.

The car's stats are also mind-bending, even without an electric motor: zero to 60 mph in 2.7 seconds; 740 horsepower; 590 lb-ft of torque.

ABC News spoke to Holford about the push for electric sports cars and their limitations. The conversation below has been edited.

Q: We're seeing more electric supercars and hypercars. Will the popularity of the 750S be short-lived as more automakers build all-electric sports cars?

A: In the performance figures arms race, there's going to come a point where physics gets in the way. And you can have all the power in the world but if you can't make the rubber stick when you pull away, it's not going to help you. It all depends on what the customers want. You can do naught to 60 mph in an insane time, but you can only do half a lap at pace because of the battery pack. There's a balance to be had -- for us that's road use and track use for the 750S. This car is a different proposition to an EV car.

For people who are thinking about the 750S, get out and try it. We can write about it, we can talk about it, but the proof is in the pudding and getting behind the wheel. It's about trying to be the ultimate engagement car for people.

Q: How long have you been working on the 750S?

A: The 750S development was around two years plus some small amount of refining time at the end, just really validating everything we tested through the development program and real-world customer situation driving.

Q: You benchmarked the 750S against its predecessor, the 720S. What was your objective with this car?

A: The 720S was revolutionary in its time -- from an aerodynamic development point of view but also from a dynamic performance. The target for us was to understand where we can push this further but also to really make this car a driver-centric vehicle. How could we focus on engagement and a sense of connection to the car -- from the way the car responds to you in terms of pedal mapping and gear shifts maps -- to the audio and sound effect of the exhaust.

We moved everything around the cabin to be really focused on where the driver is sitting. Every switch that is commonly used has been moved closer to the steering wheel.

The challenge was to stretch the top end of performance for the 750S without losing any of the comfort and everyday usability. We moved switches and controls to a place that didn't exist in the previous car. For example, putting a dedicated switch for the car's nose lift is one of the pieces of feedback we had. The stalk was harder to find in the 720S. The nose lift is now twice as fast.

All of our cars are designed to be drivers' cars; however, we continue to evaluate and improve based off customer feedback and our own benchmarking.

Q: Racing is at the heart of all McLaren cars. Is this the closest owners will get to driving an F1 car?

A: From a McLaren point of view - no. This is a road car that can be taken on the track. Our Ultimate Product Offering is usually closer to a racing vehicle – like a Senna GTR.

Q: Does the 750S mimic anything that professional drivers experience?

A: We take a lot of cues from our racing colleagues in terms of the way we develop: Our phrase is: "Fail fast, iterate and go again."

The thing about the 750S is the breadth of capability it has. The car will look after you [on a track]. As you gain confidence in it, you can gradually turn things up, you can turn things off. You can get into variable drift control.

Q: Why was it important for drivers to feel engaged at speeds under 40 mph?

A: With the improvements in technology we have, some vehicles can feel really slow at high speeds. And it's really easy to let your speed drift up in a high-performance car because it handles so well.

It was really important to me that customers could experience that real engagement and that sense of exhilaration under [lesser] speeds. You don't want to have a car that only feels fast at 150 mph on a track.

Lots of our customers will use that car on a track but not all of our customers will. I still wanted customers to feel like they have an engaging supercar.

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(NEW YORK) -- Shoppers are flocking to Costco for gold bars but they're hardly the only ones scooping up the precious metal.

Investors drove gold prices to a record high on Friday, the latest surge in a 17% rally so far this year. Over that period, bullion prices have climbed more than twice as fast as the S&P 500, the index that most people's 401(k)'s track.

The price gains stem from a wider trend of investors seeking out high-return assets in anticipation of interest rate cuts expected later this year, some experts told ABC News.

A so-called momentum trade has also pushed prices higher, they added, since investors see the price of gold swell and want to share in the gains.

"We're seeing a situation where people are actually increasing their risk exposure," Campbell Harvey, a professor at Duke's Fuqua School of Business who studies commodity prices, told ABC News, noting that the typical price volatility of gold resembles that of the S&P 500.

"You see things like the S&P 500 going up and bitcoin going up," Harvey added. "Gold is part of that."

Costco has generated an estimated $100 million to $200 million per month in gold bar sales, Wells Fargo said in a recent equity research note.

While the price is not disclosed online to nonmembers, the product typically sells for nearly 2% above the spot price, which as of time of publication stood at $2,430 per ounce.

The buying spree has also taken hold at central banks, UBS said in a report last week, citing some central banks' desire to move away from U.S. dollars and hedge against inflation risks.

In January and February, central banks purchased about 64 metric tons of gold and China imported 132 metric tons from Switzerland, a gold-refinery stalwart, UBS said.

Hedge funds and other institutional investors have also bought into the gold craze in an effort to capitalize on the commodity's blistering rise, Campbell said. "That institutional pressure is pushing the price of gold up," he added.

Gold prices have surged despite low activity in a key instrument for everyday investors: ETFs.

An ETF amounts to a bucket of securities that gives investors a way to bet that an underlying asset will increase in price without purchasing that asset.

An ETF for gold, in turn, allows individuals to put money on the price movement of the precious metal rather than buy, lug and store the physical item.

Over the last 10 months, however, gold ETFs have incurred a net outflow of funds, meaning that on the whole the ETFs are losing investment rather than gaining it, Harvey said. That trend, he added, suggests retail investors are not a major cause of the price increase.

Gold is also widely viewed as a hedge against geopolitical unrest because the millennia-old store of value is perceived as an investment that could outlive calamity.

World Gold Council, a United Kingdom-based trade association for the gold industry, said global disruption could drive up prices this year, according to a January report.

"In addition to monetary policy, geopolitical uncertainty is often a key driver of gold demand and in 2024 we expect this to have a pronounced impact on the market," the World Gold Council report said.

For his part, Harvey cast doubt on the role of geopolitics in the price surge, since the onset of the rally did not coincide with the outbreak of the Israel-Gaza war in October.

Investors aiming to put money in gold can do it in a variety of ways. In addition to purchasing the gold bars on offer at some stores like Costco, investors can put funds into a variety of gold ETFs or buy shares in gold mining companies.

Individuals can also invest in gold futures, contracts to buy or sell gold on an agreed-upon date, which essentially amount to a bet on the movement of the price.

Investors should beware, however, Harvey said, noting that bullion typically generates modest returns over the period following an all-time high. UBS expects the price of gold to tick up to $2,500 by the end of the year, according to its report last week.

"Investing at an all-time high is very risky," Harvey said.

Reporters at Good Morning America contributed to this report.

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(NEW YORK) -- Tax season, beloved by few and dreaded by many, comes to a close on Monday. For some tardy filers, though, the task will just be getting started.

Up to one in three Americans waits until the last minute to file their taxes, according to a 2021 survey by IPX 1031. That amounts to tens of millions of people.

A portion of them will realize that they do not have enough time to submit their taxes by the end of Tax Day. Luckily, the Internal Revenue Service offers the opportunity to file for an extension.

Here’s what to know about whether to file for an extension, what it requires and how long it lasts:

What are the benefits of filing a tax extension?

A tax extension pushes back the filing deadline, affording taxpayers additional time to get their submission in order.

An extension, however, does not allow filers to delay payment. If a filer thinks he or she might owe the government money, then the person must hand over the estimated amount by April 15. If not, the filer stands at risk of paying penalties and interest.

When estimating how much they owe, filers should keep in mind changes to the tax code, such as updated tax brackets and new tax credits. Knowledge of those rules can help filers optimize their tax refund.

If a filer forgoes an extension and files late, the person risks additional fees for the tardy submission. The penalty amounts to 5% of the taxes owed for each month that the filing is late, up to a maximum of 25%.

Under such circumstances, the IRS mails a letter or notice alerting the filer of a late fee.

How do you file a tax extension?

Before filing an extension, a taxpayer can check to see if he or she qualifies for an automatic extension. That option is available to people who live in a federally declared disaster area, members of the military stationed abroad or in a combat zone and citizens living outside the U.S.

Otherwise, an extension can be submitted in one of three ways.

First, if an individual opts to pay the anticipated amount owed, he or she can check off an extension-request box in the IRS online payment portal.

Alternatively, a filer can submit an online extension request through the government’s free service, IRS Free File.

Finally, the taxpayer can always go about it the old-fashioned way by mailing the extension. Such filers should fill out the Form 4868 and send it to an address listed on the IRS website. The form requires filers to estimate the amount of tax owed for the filing year.

Tax professionals can also assist filers in obtaining an extension.

The extension request must be submitted by the end of the day on April 15.

How long does a tax extension last?

A tax extension lasts six months, meaning those who obtain an extension will be allowed to submit their tax forms without penalty until Oct. 15.

Some may not want their tax season to end before that, however. They’re welcome to file taxes at any point over the six-month period.

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(NEW YORK) -- The Buy Now, Pay Later (BNPL) trend, a significant shift in shopping habits, emerged as a game-changer during the recent holiday season. It broke records and offered customers a refreshing alternative to traditional methods of making large purchases.

The BNPL payment option generated $16.6 billion in online sales during the 2023 holiday season. The method allows shoppers to purchase products in installments instead of paying the full amount at once. Thus, you can get the product immediately and pay it off over a fixed period.

With the BNPL trend, consumers have the freedom to pay finance companies such as Affirm, Klarna, or Afterpay over a fixed period. These are essentially installment loans -- but with a twist.

BNPL programs typically offer short-term loans with fixed payments, no interest, and no additional charges, giving you the financial freedom to make those big purchases without the immediate burden of a large payment.

Other benefits of using BNPL to make a purchase are fast approval and the lack of a need for good credit or a high credit score. Women, people under 40, and users with lower income and credit scores are the most active users, according to research by the Federal Reserve Bank of New York.

Example on how Buy Now, Pay Later works

Suppose you plan to purchase a new TV for $250. When it comes time to pay, you may choose to pay in installments using services like Affirm, Afterpay, or Klarna.

To obtain a loan for your purchase, you may need to provide your personal information and undergo a soft credit check.

Once approved, you agree to repay the amount you owe over four equal payments. Each payment will be the same number, with the first payment due immediately and the others due every two weeks.

Spreading out payments for a big purchase, such as a TV or home appliance, can be helpful if you need more cash upfront.

What are the risks of using Buy Now, Pay Later?

There are a few drawbacks to using BNPL services. For one, paying off a BNPL loan typically won't improve your credit score. Additionally, you won't be able to take advantage of credit card benefits like cash-back or rewards points when you opt for Buy Now, Pay Later.

Another risk consumers face is forgetting to make payments, which can result in fees. A report by the Consumer Financial Protection Bureau found one of every ten borrowers in 2021, one was charged a late fee averaging $7 per missed payment. This is a way for payment companies to make money and stay in business.

If you used BNPL to purchase an item and want to return it, there could be some issues. You are entitled to a refund, but the merchant needs to inform the BNPL lender of the return, which could cause a delay.

You still have to make payments during this time, and missing or delaying payments could result in additional fees and negatively impact your credit score.

What can I do to avoid the risks of Buy Now, Pay Later?

If someone loses track of the payment cycle, their debt can spiral very quickly. To avoid this risk, consumers should set up auto-pay or keep track of payment due dates to avoid falling behind.

It is crucial to review a retailer's return policy before making a purchase to avoid complications with returns and avoid being charged for returned items. Additionally, before using the Buy Now, Pay Later option, take a moment to assess whether it fits within your budget.

Other facts about Buy Now, Pay Later

It's important to note that certain purchases may not be eligible for Buy Now, Pay Later financing. For example, some merchants may not offer financing for certain types of products or services.

Additionally, there are limits on the amount that you can finance through this payment option. These limits can vary depending on your credit score, income, and other factors.

To ensure that you qualify for Buy Now, Pay Later financing and to understand the terms and conditions, it's essential to read the merchant's financing agreement carefully and to consult with a financial adviser if you have any questions or concerns.

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(NEW YORK) -- Boeing has come under fire and intense scrutiny ever since a door plug flew out of an Alaska Airlines flight on Jan. 5. Investigators revealed the plane, a 737 Max, was missing key bolts when the door was installed.

The company has been accused of not doing enough to ensure its aircraft and other products are up to standards, and some former employees attest the company has been doing shoddy work for years.

On Wednesday, another whistleblower, Boeing engineer Sam Salehpour, alleged the company took shortcuts in its production of 787 and 777 jets and, as a result, the planes have serious structural flaws.

"I literally saw people jumping on the pieces of the airplane to get them to align, basically by jumping up and down your deforming parts so that the holes align temporarily and you can hit a piece with a mallet so that you can go into the hole. And that's not how you build an airplane," Salehpour told reporters.

Boeing refuted Salehpour's claims in a statement released Wednesday.

ABC News' Gio Benitez spoke with "Start Here" about the latest development.

START HERE: Gio who is this person?

GIO BENITEZ: Hey, Brad. So this is Sam Salehpour. He's an engineer with Boeing, and he claims that parts of the plane's fuselage are being fastened together improperly on the assembly line which, in theory, he says could weaken the aircraft over time. So we're talking about decades of time, and he spoke at a press conference yesterday.

And his lawyer said that he had been raising these issues with Boeing management for years, but that they just weren't listening.

Now the FAA says it is investigating these claims from a Boeing whistleblower, but Boeing is actually responding very, very strongly. And they told us this, "These claims about the structural integrity of the 787 are inaccurate. The issues raised have been subject to rigorous engineering examination under FAA oversight.

"This analysis has validated that these issues do not present any safety concerns, and that the aircraft will maintain its service life over several decades."

So obviously, Boeing is very strongly disagreeing with this whistleblower and they sent us a very long statement, probably one of the longest I've ever seen.

START HERE: And just so I'm clear. So this is different from the Max planes. When we talk about the door plug that was a 737 Max. These are Dreamliners he's complaining about.

BENITEZ: Yeah. These are totally different planes. These are the 787 Dreamliners. You're talking about the Max 9, obviously, scrutiny was intensified over Boeing because of that door plug flying off that plane in January. It was a very, very serious issue. And then you think back to 2018 and 2019, you had those Max crashes.

So those were the 737 Max planes. Now we're talking about the 787 Dreamliners. There has not been any accident with the 787 Dreamliner. This is just a concern. In fact, these planes have been in service for about 13 years now and back in 2021 and 2022 Boeing actually addressed this exact issue because of employee concerns. They slowed production down and they actually temporarily stopped delivering the 787. At the time, the FAA signed off on how Boeing addressed this issue.

Now, it's important to note that this whistleblower has not provided any documented evidence. So right now, the onus is really on the FAA to tell us, is this a new problem or is this the same problem that Boeing already dealt with?

START HERE: And is this a problem at all. It's interesting that he's kind of presenting this hypothetical. He's almost saying yes, we haven't seen any accidents yet, but they could become issues after decades of flying. It's only been 13 years. How would you even test that? How would you even predict what's going to happen decades from now, though, Gio?

BENITEZ: Well, there are special stress tests, and Boeing has conducted a lot of them, actually, and they used an older 787. They actually put it through 165,000 simulated cycles of takeoffs, pressurization, depressurization and landings. And they didn't find any issues of fatigue there, and this jet is actually designed for a lifespan of 44,000 cycles. So we're talking about almost four times the amount of cycles that it would go through anyway.

Now that is what Boeing is saying. Of course, the simulation is very different than what's happening in real life, but Boeing believes that this is very accurate.

So the whistleblower says he's going to testify on Capitol Hill next week. And he says that's when he's going to provide the evidence.

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(NEW YORK) -- Consumers saddled with high credit card and mortgage rates held onto a source of solace in recent months: A forecast from the Federal Reserve promising long-awaited interest rate cuts.

The economy has refused to cooperate, however, casting that financial relief into doubt.

Fresh price data released on Wednesday marked the third consecutive month of firmer-than-expected inflation; while a blockbuster jobs report last week revealed that employers are hiring with gusto.

The hot economy casts doubt over interest rate cuts, likely delaying their widely anticipated start this summer and possibly removing them entirely from the Fed's calendar this year, some economists told ABC News, while acknowledging that multiple rate cuts remain within the realm of possibility.

"The future is uncertain -- I wouldn't bet the farm," Joseph Gagnon, a senior fellow at the Peterson Institute for International Economics and a former Federal Reserve official, told ABC News. "You might get no cuts this year or you might get three or four cuts."

In December, when the Fed announced plans for eventual rate cuts, prices were cooling steadily amid robust economic growth. The trend elicited a burst of optimism about the chances for a "soft landing," in which inflation returns to normal while the economy avoids a recession.

Price increases have cooled dramatically from a peak of about 9%, but inflation has stalled in recent months, hovering more than a percentage point higher than the Federal Reserve's target rate of 2%.

Meanwhile, the economy has continued to run hot. Breakneck hiring and robust economic growth have rebuked fears of a recession.

That combination of elevated inflation and economic fortitude offers the Fed an opportunity to hold rates steady at highly elevated levels, since the central bank runs little immediate risk of triggering a downturn, Fed Chair Jerome Powell said last week, before the latest inflation reading.

"On inflation, it's too soon to say whether the recent readings represent more than just a bump," Powell told a business conference at Stanford University.

"Given the strength of the economy and progress on inflation so far, we have time to let the incoming data guide our decisions on policy," Powell added.

The Fed Funds rate remains between 5.25% and 5.5%, matching its highest level since 2001.

Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering a burst of economic activity through greater household spending and company investment.

But the Fed risks a rebound of inflation if it cuts interest rates too quickly, since stronger consumer demand on top of solid economic activity could lead to an acceleration of price increases.

At the outset of this year, many economists and traders expected interest rate cuts to begin in June. However, the cautious approach from the Fed has largely nixed expectations of a rate cut in the coming months.

"At this point, a June rate cut seems to be out of the picture," Yeva Nersisyan, a professor of economics at Franklin & Marshall College, told ABC News. "The Fed is signaling that it doesn't want to lower rates."

Bret Kenwell, U.S. investment analyst at eToro, agreed. The latest higher-than-expected inflation reading delivered a "blow" to plans for a rate cut in June, he told ABC News in a statement.

"There's growing uncertainty about when the first cut of 2024 will come," he added.

Some economists said they doubt whether an interest rate cut would happen this year at all. Persistently elevated inflation could push the Fed to abandon its forecast of lower rates, they said, while a commitment to political neutrality may foreclose a move ahead of the November election.

"There is likely sufficient caution within the Fed now to mean that a July cut may also be a stretch, by which point the US election will begin to intrude with Fed decision making," Seema Shah, chief global strategist for principal asset management at investment firm Edelman Smithfield, told ABC News in a statement.

Still, some observers have retained expectations of a rate this summer, citing progress made in the Fed's inflation fight over the past two years. In a note to clients obtained by ABC News, Bank of America said it still predicts a rate cut in June.

The firm, however, acknowledged the threat posed by the latest inflation data, saying it "points to significant risk of a delay to the start of Fed easing."

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(NEW YORK) -- Starting Wednesday, internet users will now have more transparency about their broadband services.

The Federal Communications Commission now requires broadband providers to display all the information about the price and performance of their services in clear labels.

Alejandro Roark, the chief of the consumer and governmental affairs bureau for the FCC, spoke with ABC News' "Start Here" about the new rule.

START HERE: What should we know about this announcement today?

ALEJANDRO ROARK: Well, good morning, Brad. Very happy to be here today. And I think what's important to recognize is that the bipartisan infrastructure law, [and] within that law Congress directed the FCC to require [a] broadband provider to display, in the form of labels, specific and important information about price and performance regarding their internet service plan.

So anywhere that is considered a point of sale, whether you are shopping online, on your mobile phone, [or] whether you're in-store, these have to be clearly visible to all consumers.

So they shouldn't be hidden behind some special five clicks that you have to get to or make it harder, confusing to find this information. The rules require these labels to be present at the point of sale, and at the point where we are comparison shopping and are getting ready to make the choice that best meets our household needs and our long-term budgets.

START HERE: What is this label going to do and what will it look like?

ROARK: The FCC, I think, we were smart to borrow the nutrition label model format from food products because we wanted it to make this basic information easily recognizable and easy to understand.

START HERE: And just so we're clear, it literally looks like the label with the same formatting and shape and all that stuff.

ROARK: Exactly. So as of today, consumers will have simple, easy-to-read facts about price, the speed, the data allowances and other aspects of high-speed internet service upfront.

Plus, by requiring providers to display introductory rates clearly, we seek to end the unexpected one-time or hidden recurring fees or other junk fees that can often get buried in long and confusing statement of terms and conditions that lead to -- I know that I've definitely felt -- that consumer bill shock when I signed up for a service that was supposed to be a really great deal, and then I get my first monthly service [bill] and the prices are completely different.

START HERE: Ah, so, OK. So literally like a food nutrition label, but this will be a broadband nutrition label. When does that go into effect?

ROARK: Well Brad, breaking news happens on this podcast. So I'm happy to say that as of today, April 10, 2024, broadband providers are required to display these new broadband nutrition labels at the point of purchase. And all of us will start seeing those everywhere that internet services are sold.

START HERE: Is it just the design of all this? Is it just kitsch, or do you think it will have a serious effect? I guess I'm wondering how big of an issue this is in, in real life for a lot of people.

ROARK: This, from my perspective, is a kind of market, a transforming ecosystem tool.

I think what we know at this point, after the global health crisis is that, you know, having access to high-quality internet service is essential to sustaining important aspects of our everyday lives. I'm talking about telemedicine. I'm talking about educational opportunities for students, and I'm talking about our ability to engage with the world and to either seek out government services -- .

Think about all of the essential services that were completely migrated overnight to online, and none of those processes, systems or support, services are coming back in person. They're staying online. And it really has forced us all to come face to face with the reality that the internet is an essential tool for 21st-century success.

START HERE: But here's what I'm wondering, though, because if all of this is about making the internet more accessible, making everything transparent and just easier for consumers across the country to get online, there are programs designed to give low-income Americans access to broadband internet. I think it's like 30 bucks a month.

The funding for that program is going to run out at the end of this month, and I'm sure the FCC, would be like, "Yeah, we'd love Congress to pass a law about that," but the FCC can impose fees on broadband companies to pay into a pot. I think it's the Universal Service Fund for these sorts of lifelines for these communities. So, I mean, will the FCC do that?

ROARK: So I will say that this particular program, the Emergency Broadband Benefit program, which was a COVID emergency response program, really was designed to ensure that every single person, regardless of their ZIP code or economic standing, had the ability to sign up for the internet service that they need.

Again, just for basic participation. The Affordable Connectivity Program since then, over the course of the past two years, has done more to bridge our country's digital opportunity divide than any other standalone effort in our nation's history.

Right now, the program counts with over 23 million households enrolled across all 50 states, territories and federally recognized tribal lands and its success, its reach and the impact of the program are absolutely unquestionable.

But we know, like you mentioned, that without congressional action to appropriate new funding for the program, the Affordable Connectivity Program is projected to run out of funding by the end of April, leaving potentially millions of households without the internet connections that we all depend on.

Right now, Congress is thinking about how best to both give the program long-term, sustainable funding. But also, I think in this moment, they're also considering, what do we do in the meantime? April, the end of April, is right around the corner.

START HERE: Like, why can't you guys enact some of these fees on broadband providers, I guess?

ROARK: Yep. And so I think all of that is still being negotiated. The Universal Service Program is something that I think has been around for a long time, and there's a lot of debate and a lot of conversation about: Can we adapt this program to meet the funding needs of the Affordable Connectivity Program.

And that's something that right now Congress is debating with consumer advocates, and we're at the table ensuring that whatever comes out of that process meets American consumers where they are. And we know that 23 million households are currently enrolled, and many more continue to be eligible to sign up for this program.

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(WASHINGTON) -- If the U.S. Postal Service gets its way, the price of a first-class stamp will go up for the fourth time in less than two years.

The USPS is proposing hiking the cost of a first-class stamp to 73 cents, or roughly 7% on all forms of postage.

If approved, the plan, which was announced on Tuesday, will raise the price of metered 1-ounce letters to 69 cents, international ounce-size letters and postcards to $1.65 and domestic postcards to 56 cents.

The proposal has been sent to the independent Postal Regulatory Commission for final approval. If the commission signs off, the new prices will take effect in July.

The price-hike proposal comes after the USPS raised the cost of a first-class stamp to 68 cents from 66 cents on Jan. 21. Stamp prices rose twice in 2023.

In the past 20 years, the price of a first-class stamp has climbed about 84%.

"It's ridiculous, absolutely ridiculous," New Yorker Jacqueline Pollen told ABC News as she exited a post office on the upper West Side of Manhattan. "I’m a senior on a fixed income. I cannot really afford stamps that much. I do have a lot of Forever stamps that I bought years ago and I’m using them up, but I don’t know how I’m going to afford 73 cents for one stamp."

Like millions of Americans, Pollen said she has cut back on mailing letters, even Christmas cards, saying, "I use E-cards and email. That's what I use now to save money."

But Manhattan resident Albert Quiles, who was going into the post office to purchase stamps, said he's resigned to paying the higher postal prices.

"I've got to deal with it. What else can you do? You've got to go with the flow, man. Times change," Quiles told ABC News. "There's nothing you can do. The government says this is what you've got to do. It's not like it's just me -- it's everybody. I don't feel bad about that."

The postage price jump is part of a 10-year "Delivering for America" plan launched in March 2021 to transform the USPS from a money-strapped organization to one that is self-sustaining and high-performing.

The USPS reported a $6.5 billion net loss in 2023 as revenue fell 0.4% to $78.2 billion and the use of first-class mail dropped to its lowest level since 1968, postal officials said.

In 2022, Postmaster General Louis DeJoy issued a warning for customers to expect "uncomfortable" increases in postage until the USPS gets on track to be self-sustaining.

"While our pricing decisions are ultimately made under the authority of the Board of Governors, in the near term, I will most likely be advocating for these increases," DeJoy said during a meeting with the USPS Board of Governors in 2022. "I believe we have been severely damaged by at least 10 years of a defective pricing model, which cannot be satisfied by one or two annual price increases, especially in this inflationary environment."

Despite the price hike in postage, a USPS survey done in 2023 showed the prices of stamps in the United States are still lower compared to 31 other countries it analyzed.

"The 2023 price of a standard domestic letter in the U.S. was nearly half the average price in our 31 sampled countries," according to the USPS Office of Inspector General report released in March.

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(NEW YORK) -- Consumer prices rose 3.5% in March compared to a year ago, accelerating markedly from the previous month and reversing some of the progress achieved in a two-year fight to cool inflation, U.S. Bureau of Labor Statistics data showed. The finding matched economists' expectations.

Price increases have cooled dramatically from a peak of about 9%, but inflation still stands more than a percentage point higher than the Federal Reserve's target rate of 2%.

A spike in housing and gasoline prices at the outset of this year has helped prolong the nation's bout of elevated inflation. Meanwhile, economic performance has been robust, boosting consumer demand and putting upward pressure on prices.

The latest finding indicated an uptick from the 3.2% annual inflation rate recorded in February.

At a meeting last month, the Fed opted to keep rates highly elevated in response to stubborn inflation. The Fed Funds rate remains between 5.25% and 5.5%, matching its highest level since 2001.

"On inflation, it's too soon to say whether the recent readings represent more than just a bump," Fed Chair Jerome Powell told a business conference at Stanford University last week.

"Given the strength of the economy and progress on inflation so far, we have time to let the incoming data guide our decisions on policy," Powell added.

The Fed said last month that it still intends to make three interest rate cuts this year.

Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering a burst of economic activity through greater household spending and company investment.

But the Fed risks a rebound of inflation if it cuts interest rates too quickly, since stronger consumer demand could lead to an acceleration of price increases.

In recent days, some business leaders and policymakers have voiced concern about the outlook for inflation.

In his annual shareholder letter on Monday, JPMorgan Chase CEO Jamie Dimon warned that a host of factors, including government spending and global trading shocks, could make the final leg of inflation's path down to normal levels much more difficult than many observers expect.

Speaking at a meeting of the Shadow Open Market Committee in New York City last week, Fed Governor Michelle Bowman said she sees "a number of upside risks to inflation."

The rough patch for inflation in recent months has coincided with strong economic performance, despite persistently high interest rates meant to slow economic activity.

Employers hired 303,000 workers last month, blowing past economist expectations of 214,000 jobs added, according to a report from the U.S. Bureau of Labor Statistics on Friday.

The hiring far surpassed the average number of jobs added each month over the previous year, suggesting an acceleration in performance for one of the key metrics used to assess the nation's economic health.

Last week, Powell referred to surveys of consumer and business sentiment that suggest inflation is widely expected to return to normal levels.

"The public does believe -- and it's a good thing, because it's true -- that inflation will go back down to 2%," Powell said. "That's very reassuring but that's partly because of the very strong action we took and also because of our ongoing commitment to actually return inflation to 2% over time."

"And that is our commitment," Powell added.

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(NEW YORK) -- Tesla, the Elon Musk-led electric vehicle company, appears desperate for a tune-up.

The company’s share price has plummeted more than 25% so far this year, making it one of the worst-performing stocks in the S&P 500. Over the same period, that index has risen about 10%.

Shrinking car sales, major setbacks in autonomous driving and increased competition have cost the company more than $200 billion in lost market value in less than four months.

Analysts who spoke to ABC News differed on whether the company would ever recover those losses.

Critics say demand for the company’s cars has slowed as a result of its failure to release a new, affordable model, as well as a chill in the overall EV market. As competitors roll out alternatives, Tesla faces a difficult path to regain its previous breakneck growth.

Proponents, however, point to the company’s record of industry-leading innovation, suggesting the breakthroughs that fueled its sprint ahead of the competition could reemerge as it readies for new EV models and perfects its autonomous driving software.

“Tesla has been here before but this is a code red,” Dan Ives, a managing director of equity research at the investment firm Wedbush, a longtime Tesla bull, told ABC News.

Tesla did not immediately respond to ABC News' request for comment.

Last week, Tesla reported a significant decline in car sales over the first three months of 2024. The company delivered 387,000 cars over that period, marking a 20% decline from the previous quarter and an 8% decline year-over-year, an earnings report showed. The results fell well short of Wall Street expectations.

In a statement that day, the company attributed the sluggish performance to preparation for production of a forthcoming version of its Model 3, as well as shipping delays in the Red Sea and an alleged arson attack at its Berlin factory.

Gordon Johnson, CEO and founder of data firm GLJ Research, who is bearish on Tesla, said consumer demand for the company’s cars has fallen sharply from the heights attained during the pandemic.

At that time, a major shortage in the worldwide supply of auto parts ultimately benefited Tesla since the company streamlined production and outperformed hamstrung competitors, Johnson said.

“Tesla had cars available when the auto industry writ large globally did not,” Johnson told ABC News.

Once supply blockages eased, competitors ramped up production and rolled out new EV models. The glut of alternative options has coincided with a slowdown of overall consumer demand for EVs, Johnson said.

“Tesla has more capacity than there is demand for its cars,” Johnson added. “That’s the reason why it’s struggling.”

Over the past year, Tesla has discounted some of its models in an effort to goose up demand. Analysts who spoke to ABC News said Tesla would need to release a newer, low-cost model as a means of attracting thrifty spenders.

According to a Reuters report last week, however, the company dropped plans for a low-cost model to be priced at about $25,000. Musk refuted the report in a post on X hours after the story was published.

“They need a sub-$30,000 vehicle sooner rather than later,” Ives said.

Boosters of the company’s potential for long-term growth point to its autonomous driving software, but that product has faced challenges of its own. In December, Tesla recalled about 2 million cars over a safety issue tied to its autopilot system. Two months later, the company recalled about 360,000 more cars over crash risks tied to its self-driving system.

In response to a letter from members of Congress calling for an investigation of the self-driving system, Tesla senior director of public policy, Rohan Patel, said last March: "Tesla's Autopilot and FSD Capability features enhance the ability of our cusotmes [sic] to drive safer than the average driver in the U.S." The response was first reported by Reuters.

Looking ahead, analysts said Tesla retains a path to recovery but it remains unclear whether the firm can achieve it.

“In order for the stock to appreciate, we need sales to reaccelerate and for the full self-driving to start seeing greater adoption,” Craig Irwin, a senior research analyst at Roth MKM, told ABC News. “Call me a skeptic.”

Gordon said he expects the company’s outlook to worsen, since declining sales revenue and persistent costs could force the company to fill a potential budget gap with an injection of outside funds. “That will scare the bejesus out of Tesla bulls,” Johnson said.

For Ives, the current crisis at Tesla marks an opportunity for the company to innovate and recapture its previous era of remarkable growth.

“I believe they can get through it, but this is a white-knuckle period,” Ives said.

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