Fioney Staff
Fioney aims to help guide you to make the best decisions when it comes to the ever changing worlds of personal and small business finance.
Personal Finance News
Ally Becomes Latest Bank to Discontinue Overdraft Fees
by Fioney Staff
One of the most frustrating aspects of dealing with many banks is the dreaded overdraft fee. If customers accidentally spend more than is in their checking account, they may be assessed a charge of $30 or more. What's worse, this fee is per transaction — with some institutions being accused of rearranging the order in which transactions post in a bid to maximize these fees. Now, at long last, another...
FinTech News
$SOFI Debuts on Nasdaq Stock Exchange
by Fioney Staff
One of the biggest players in the FinTech space is now a publically traded company. Yesterday, SoFi officially hit the Nasdaq stock exchange, trading under the ticker symbol $SOFI. During its first day of trading, the stock closed at $22.65 — up 12%. As of this writing, $SOFI continues to rise today, trading for as much as $24.83 during the day. SoFi's IPO comes after its merger with special purpose acquisition...
FinTech News
FinTech MotoRefi Raises $45 Million
by Fioney Staff
As more Americans look to save money on their auto loans, one FinTech is seeing significant growth — and attracting investors. Last week, MotoRefi revealed that it had raised $45 million. The Series B was led by bank Goldman Sachs with additional participation from Motley Fool Ventures, Moderne Ventures, Link Ventures, IA Capital Group, CMFG Ventures, and Accomplice. This comes just four months after MotoRefi's $10 million Series A, which...
Personal Finance
LendingTree Survey Finds Credit Limit Cuts Still Common in 2021
by Fioney Staff
Last year, as many Americans saw their finances affected by the pandemic, anecdotes emerged suggesting that some banks were cutting credit limits and even closing accounts of certain customers. This was later borne out in data, with Bloomberg reporting that issuers cut customer credit limits by a total of $99 billion in 2020. Now, despite some economic turnaround, a survey by LendingTree finds that a significant number of respondents are...
FinTech News
Bitcoin Rewards App Fold Raises $13 Million in Funding
by Fioney Staff
It looks as though the app Fold is the latest FinTech to cash in on the current crypto craze. Today, the company announced that it had raised an impressive $13 million. The Series A was led by Craft Ventures while M13, Slow Ventures, Bessemer Venture Partners also participated. With the funds, Fold intends to continue building out its rewards platform and also plans to enable other card issuers to offer...
FinTech News
Visa Expands FinTech Partner Connect Program to U.S. and Beyond
by Fioney Staff
As FinTech becomes increasingly mainstream, Visa is now looking to facilitate even broader financial technology integrations. Following an initial launch in Europe, the company has announced it will now be expanding the FinTech Partner Connect program to the United States as well as markets in Asia, Africa, Latin America, the Caribbean, and elsewhere. The program aims to help financial institutions discover and partner with vetted FinTech firms. In doing so,...
Credit Card News
BlockFi Drops Annual Fee From Crypto Credit Card Plans
by Fioney Staff
Even as the cryptocurrency market experiences some major volatility, the race to bring a crypto credit card to market continues. In fact, it now looks as though a battle in the space is heating up as BlockFi has announced some revisions to their card plans. The most notable change is that the BlockFi Rewards Visa will no longer charge an annual fee. Originally, when the card's waitlist was opened late...