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JPMorgan Chase Suing Founder of FinTech Frank for Fraud
In September of 2021, JPMorgan Chase announced that it was acquiring the FinTech startup Frank — a company started in 2017 by then-24-year-old Charlie Javice — for $175 million. Now, more than 18 months later, Chase is suing Javice and has shut down the Frank site. As CNBC reports, the bank is accusing Javice of fraud, saying the founder manufactured a number of fake accounts. In fact, they estimate that...
Personal Finance News
Survey: Americans Lose Average of $1,819 to Financial Illiteracy
How does a deficit in financial education impact the wallets of Americans? A recent survey conducted by the National Financial Educators Council (NFEC) asked more than 3,000 consumers, "During the past year, about how much money do you think you lost because you lacked knowledge about personal finances?” The majority (61.8%) reported losing between $0 and $499 due to their financial illiteracy. However, 15% said that they'd missed out on...
FinTech News
Robinhood Retirement Now Available to All Eligible Customers
Just a few weeks after the investment app Robinhood opened a waitlist for its IRA product, today, the company announced that the feature is now available to all eligible customers. According to the FinTech, more than 1 million users who joined the waitlist had access to Robinhood Retirement prior to this latest update. Now, all customers can find the feature in the app. Robinhood Retirement was first confirmed during an...
Small Business News
Barclays Announces Third "Small Business Big Wins" Contest
Small businesses looking to add some bonus funds to their coffers may be interested in a newly-opened contest. Today, Barclays announced the launch of its third annual "Small Business Big Win" promotion. This time around, the company will once again be doling out a total of $255,000 in prize money to dozens of winning businesses. One grand prize winner will be awarded $60,000 followed by $40,000 for second place and $20,000...
FinTech News
"Smart Receipt" Startup e.pop Raises $1.6 Million
A FinTech that's looking to digitize consumer receipts has raised a fresh round of funds. This week, e.pop announced that it had closed a $1.6 million seed round. To date, the startup has now raised a total of $2 million. With the latest funds, e.pop plans to expand its team and grow its user base in key markets. At this time, users are able to join a waitlist for the...
FinTech News
Greenlight Introduces Level Up Financial Education Game
A FinTech focused on family finance is rolling out a new feature that will help children and teens learn about money in fun ways. Recently, Greenlight announced it's newest feature: Level Up. Greenlight describes Level Up as an interactive, curriculum-based financial literacy game. According to the company, the game's curriculum goes beyond the National Standards for K-12 Personal Financial Education, which were developed by the Jump$tart Coalition and Council for...
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