Money Management Tips
Economic News
Sales of Existing Homes Fall to Near 10-Year Low
During these interesting times, are you in the market for a house? If not, you certainly aren't alone. As CNN Business reports (and according to data from the National Association of Realtors), sales of existing homes dropped by 17.8% in April compared to the previous month. Similarly sales were down 17.2% year over year. This was not only the largest monthly drop seen since July of 2010 but also brought...
FinTech News
FinTech Numerated Announces Automated PPP Loan Forgiveness
Among the many ways that the coronavirus pandemic has changed life in America and around the world is that it's made FinTech more relevant than ever before. From contactless payments becoming a growing preference to digital banking proving essential, these innovations have been thrust into the spotlight. Similarly, while select banks struggled to handle the demand of the Paycheck Protection Program (PPP), some online outlets were able to step in,...
Economic News
More Than 8% of U.S. Mortgages Now in Forbearance
With the United States economy still being pummeled by closures associated with the spread of COVID-19, many Americans are seeking financial relief. One potential option for homeowners who may be struggling is forbearance, which allows them to pause mortgage payments for up to 12 months. Now new data shows that a growing number of consumers are applying for this protection — regardless of whether or not they might need it....
Small Business News
SBA Unveils PPP Loan Forgiveness Application for Borrowers
Ever since the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed in March of this year, the Paycheck Protection Program (PPP) has proven to be a source of both hope and frustration for small business owners. Despite some lenders reportedly delaying the opening of their application processes due to late-arriving guidance, the initial $349 billion in PPP funding was tapped in less than two weeks. Making matters...
FinTech News
Oxygen Joins Visa’s Fast Track Program for FinTechs
Even as much of the country remains in lockdown, the financial technologies sector seems to be managing continued growth. Not only have the past few months seen major acquisitions and impressive investment rounds but they've also brought a handful of notable partnerships. Case in point: this past week, Oxygen announced that it was the latest FinTech to join Visa's Fast Track program. Oxygen is a mobile-only banking service designed for...
FinTech News
Crypto Trading Platform FalconX Raises $17 Million
Even amid continued lockdowns and economic struggles, the cryptocurrency market has been having a pretty big month. Not only has the price of Bitcoin risen to more than $9,300 but the latest "halvening" also recently occurred as the most famous crypto asset, Bitcoin, continues on towards its 21 million coin max. And then there's FalconX, which just announced a round of investments it's received. This week the company revealed that...
Personal Finance
