Buying a home was once the bedrock of the American Dream, but for millions of families, that dream is being priced out of reach. 

With the typical down payment more than doubling since 2019 to $30,400, Sen. Rick Scott, R-Fla., is moving to bypass “economy-crushing” inflation. His newly introduced American Dream Accounts Act would empower first-time buyers to shield their savings from the IRS, allowing them to build a down payment faster and reclaim a stake in the country’s future.

“I grew up in public housing and watched my family struggle to make ends meet. For us, owning a home was out of reach because we couldn’t afford it,” Scott said in a press release. “Today, so many Americans are facing that same struggle, especially young first-time buyers who view homeownership as a critical milestone to help them achieve their American Dream.”

McMANSIONS BECOME FINANCIAL ‘LIABILITY’ AS BUYERS DITCH OVERSIZED HOMES

On Friday, the senator introduced the bill, which would allow for tax-exempt contributions and qualified withdrawals for down payments. Individuals under 35 years old can contribute up to $7,500 annually, while those over 35 have a “catch-up” limit of $10,000 per year.

A “for sale” sign is displayed outside of a home for sale on Aug.16, 2024, in Los Angeles, California. (Getty Images)

There’s flexibility for couples as two buyers can combine distributions, allowing for a total qualified distribution of up to $500,000.

However, nonqualified withdrawals will face a 10% penalty, mirroring traditional 401(k) rules to ensure the money remains focused on buying a home. 

Realtor.com’s latest Down Payment Report found that the average amount needed for a home rose to $30,400 in the third quarter of 2025, double the figure from 2019. Additionally, the report estimated that it takes about seven years to save for that down payment.

“Unfortunately, years of inflation-driving, economy-crushing Democrat-led policies aren’t helping make it any easier. That’s wrong, and it’s why I am fighting every day to deliver real solutions that make housing more affordable for everyday Americans and make the dream of homeownership a reality,” Scott said.

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“Homeownership means stability and economic mobility,” he continued. “This bill will help first-time buyers save faster, and their money go farther to ease the financial barrier to homeownership for families.”

While Sen. Scott’s bill takes the initiative to the federal level, several states, including Virginia, Colorado, Iowa and Oregon, have pioneered first-time homebuyer savings accounts to help Americans reach homeownership goals.

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Operator

Good morning, ladies and gentlemen, and welcome to the Full Year Results Investor and Analyst Call of Volkswagen AG. [Operator Instructions]

Let me now turn the floor over to Rolf Woller.

Rolf Woller
Head of Group Treasury & Investor Relations

Thank you very much, and a very good morning to everyone, and a warm welcome to the Volkswagen Group Investor and Analyst Conference Call on the Full Year Results 2025. With me today are Oli Blume, our CEO; and Arno Antlitz, our CFO and COO.

Before we start, let me provide you with a few organizational remarks. The press release, the annual report and other related materials were all published early this morning. If you do not have them yet, you can find them on our IR website. As a reminder, and as always, the safe harbor language and other cautionary statements on Page 2 of our presentation will govern today’s presentation. I would like to encourage you to read the disclaimer carefully since all forward-looking statements are qualified by this language. In order to maximize the time for the presentation and the Q&A, I will not read it loud to you.

Our presentation today is structured in 4 chapters. Oli will guide you through the financial and operational highlights in 2025, followed

Banks, industrials, and technology companies fall as European blue-chip indexes all opened sharply lower on surging oil prices.

Spain’s IBEX 35 fell 3% as major banks slipped sharply—Santander was down 4.4%, while BBVA fell 3.5%. Industrials led the fallers in the German DAX—down 2.7%—as Siemens Energy slid 7.25% while cement maker Heidelberg Materials fell 4.5%. The French CAC 40 was down 2.6%. Banks also pushed the FTSE MIB lower. The Italian index was down 2.5%, with UniCredit sliding 4%. In London, the FTSE 100 was down 1.7% as industrial giant Rolls Royce slid 5.1%. Losses in the index were softened somewhat by gains for oil majors BP and Shell. The Dutch AEX was down 1.9% as ASML—Europe’s most valuable company—falls 5%.

DETROIT — Running back Isiah Pacheco, the hard-nosed former Kansas City Chiefs standout, has agreed to a free-agent contract with the Detroit Lions, multiple sources confirmed Tuesday, March 10, 2026. The move reunites Pacheco with a high-powered offense led by Jahmyr Gibbs and addresses the Lions’ immediate need at the position following their trade of David Montgomery to the Houston Texans last week.

NFL Network’s Tom Pelissero first reported the agreement, with ESPN’s Adam Schefter and The Athletic also confirming the deal through league sources. Pacheco, who turns 27 this month, becomes the latest addition to a Detroit roster aiming to build on recent playoff success and contend in the NFC North.

The signing comes as the NFL’s legal tampering period winds down ahead of the official start of the 2026 league year on Wednesday. Terms of the contract were not immediately disclosed, but analysts project a one-year “prove-it” deal in the $4-5 million range, aligning with Spotrac’s estimated market value of $4.3 million for the veteran back. Pacheco’s rookie contract with Kansas City expired after the 2025 season, making him an unrestricted free agent.

Pacheco spent his first four NFL seasons with the Chiefs after being selected in the seventh round (No. 251 overall) of the 2022 draft out of Rutgers. Known for his explosive, physical style — often described as “violent” by scouts — he burst onto the scene as a rookie, rushing for 830 yards and five touchdowns while contributing in the passing game. Over his career in Kansas City, Pacheco amassed more than 2,000 rushing yards, showcasing burst and toughness that helped the Chiefs win multiple Super Bowls.

Injuries hampered his later years in Kansas City. A fractured fibula sidelined him for much of 2024, and he struggled to regain form in 2025, carrying the ball 118 times for 462 yards and one touchdown in a committee role that included veteran Kareem Hunt. His yards-per-carry average dipped to 3.9 over the past two seasons, down from 4.7 in his first two campaigns. Despite the production dip, Pacheco’s downhill running and ability to break tackles remain assets, particularly in a scheme that values physicality.

The Lions’ interest stems directly from the March 2 trade that sent Montgomery — a reliable veteran who had been a key complement to Gibbs — to Houston in exchange for offensive lineman Juice Scruggs and draft picks. Montgomery’s departure left a void for a power back capable of handling early-down work and short-yardage situations, allowing Gibbs to operate as the primary explosive threat.

Detroit’s backfield now features Gibbs, the dynamic 2023 first-round pick who has emerged as one of the league’s most versatile runners, paired with Pacheco’s bruising style. The combination could provide balance: Gibbs’ speed and receiving skills out of the backfield, complemented by Pacheco’s ability to churn out tough yards between the tackles.

Lions coach Dan Campbell, known for favoring physical, aggressive players, has long valued running backs who embrace contact. Pacheco fits that profile, bringing the same tenacity that endeared him to Chiefs fans and coaches. The addition bolsters an offense already featuring quarterback Jared Goff, wide receivers Amon-Ra St. Brown and Jameson Williams, and a strong offensive line.

For Pacheco, the move represents a fresh start after a challenging end to his Chiefs tenure. Kansas City opted not to extend him or use franchise-tag leverage, clearing the path for free agency. Reports from The Athletic indicated he was “likely” to sign elsewhere, with hopes of a resurgence in a new environment. Detroit’s run-heavy scheme under offensive coordinator Ben Johnson could provide the volume and protection needed to rebuild his value ahead of future contracts.

The Lions enter the 2026 offseason with momentum from recent deep playoff runs, positioning themselves as contenders in a competitive division. Adding Pacheco at a relatively low cost allows flexibility under the salary cap while addressing roster needs without overcommitting resources.

Pacheco’s career stats include solid contributions in the postseason, where he helped Kansas City during championship runs. His ability to perform in high-stakes games could prove valuable for Detroit as it pursues a Super Bowl berth.

As free agency unfolds, the Lions continue to reshape their roster. The Pacheco signing signals confidence in their young core while adding veteran experience and physicality to the backfield. Fans in Detroit are already buzzing about the potential one-two punch of Gibbs and Pacheco, envisioning a ground game that wears down defenses.

Pacheco is expected to officially sign once the league year begins Wednesday afternoon. Training camp will provide the first look at how he integrates into the Lions’ system, but early indications point to a motivated player eager to prove doubters wrong after recent setbacks.

The deal underscores the fluid nature of NFL free agency, where a seventh-round gem from one championship contender finds a new home with another rising power. For the Lions, it’s a calculated addition aimed at sustaining offensive dominance in 2026 and beyond.

In finance, trust starts with clear information. Banks, payment providers, regulators, and business partners all need to know who they are dealing with before money moves. That need has grown as commerce has become more digital and more international.

A company can now trade, raise funds, open accounts, or work with suppliers across borders with far more ease than before, but that also means firms need better ways to prove who they are. For many organisations, tools such as LEI 24 sit within that wider shift toward reliable business identity, where accurate entity data helps support trust, smoother checks, and stronger compliance.

Why digital identity matters more now

Business identity once relied on slow checks, local records, and fragmented systems. That model creates friction in a market where firms often operate in many places at once. When a bank reviews a client, or when one company enters a new financial relationship, it needs confidence that the entity is real, active, and correctly recorded.

Digital identity helps solve that problem. It gives institutions a consistent way to identify organisations across systems and jurisdictions. This matters because financial risk often rises when data is unclear. A missing detail, an outdated address, or confusion between similar company names can delay onboarding, trigger extra checks, or create reporting errors.

Standardised identifiers reduce that uncertainty. They help different parties refer to the same entity in the same way. In practical terms, that can support faster checks and cleaner records.

Clear entity data supports better decisions

Good decisions rely on reliable data. In finance, every review process depends on identity data at some stage. A lender may need to confirm the legal status of a business. A financial institution may need to complete due diligence. A trading firm may need to meet reporting rules. In each case, a clear identity record supports the process.

A Legal Entity Identifier exists for this purpose. The system provides a unique global code linked to reference data about a company. This data helps institutions identify legal entities that take part in financial transactions. Because the identifier is standardised, different organisations can rely on the same reference point.

For businesses, the benefit is practical. Clear identity data can reduce delays, improve record accuracy, and help teams respond quickly when banks, investors, or partners request verification details. It also helps internal teams keep records aligned across departments.

The role of digital identity in compliance

Compliance teams work with a simple goal that involves many moving parts. They must ensure that the correct entity appears in the correct record at the correct time. As reporting rules evolve and oversight remains strict, organisations cannot depend on scattered or incomplete information.

Digital identity tools support compliance by creating a stronger base for verification. They help institutions manage onboarding, reporting, and monitoring by linking entity records to clear organisational data. This becomes even more valuable when businesses operate across borders and interact with multiple regulators or financial partners.

LEIs support this framework because they help identify organisations involved in financial transactions. When financial institutions and regulators refer to the same identifier, the system becomes easier to understand and manage.

For small and medium sized businesses, this can have practical value. Companies that seek investment, enter regulated activity, or work with larger financial partners may find that structured identity data helps processes move forward with fewer questions.

Digital finance depends on shared standards

Modern finance relies on connected systems. Banks, payment providers, fintech platforms, data companies, and regulators exchange information every day. Shared standards make this exchange possible without confusion.

Without common identifiers, the same company may appear differently across multiple systems. This creates inefficiency and risk. Teams must spend time reconciling records, correcting mismatches, and answering follow up questions about identity.

Shared identifiers reduce that burden. They allow organisations to reference the same entity with the same code across different platforms. This strengthens data quality and reduces operational friction.

In this sense, digital identity forms part of financial infrastructure. Clear identification standards support accurate data, and accurate data supports efficient financial activity.

What businesses should focus on

Most companies do not need to view digital identity as a technical concept. They can approach it through practical steps. Businesses should ensure that their legal details remain accurate, their records remain consistent, and their information can be verified when partners request it.

A strong approach starts with maintaining up to date company information. Business records should match official registrations, and entity details should stay current. Firms should also understand which identifiers are relevant for their industry or financial activity.

This approach does not require complex systems. The key is to treat identity data as part of operational readiness. When records are clear and consistent, companies can respond quickly to onboarding requests, compliance checks, and partnership opportunities.

A more trusted financial system starts with better identity

Digital finance depends on confidence. People need confidence in the systems they use, the companies they work with, and the data behind each transaction. That confidence grows when organisations can be identified clearly and consistently.

Digital identity helps build that trust. It supports verification, strengthens compliance processes, and improves the quality of financial data across the system. As financial activity continues to evolve, the importance of reliable business identification will continue to grow.

For businesses of every size, the message is simple. Clear identity is no longer a background detail. It is an essential part of modern financial operations.