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FinTech News
Visa and Plaid Call Off Acquisition Plans
One of the biggest FinTech deals of the past year will no longer be going forward. This week, Visa and Plaid announced that they have mutually agreed to terminate their merger plans. Visa originally intended to pay $5.3 billion for Plaid in an acquisition that was first announced almost exactly one year ago. The death of the Visa/Plaid deal comes after the purchase drew a lawsuit from regulators. In their...
Small Business News
"Second Draw" PPP Loan Applications Open as Forgiven Loans Total $100 Billion
Last year, as part of the CARES Act meant to address some of the economic impact caused by the COVID-19 pandemic, the Small Business Administration introduced the Paycheck Protection Program. With this, small businesses could apply for loans that could then be forgiven if certain terms were met. The program proved popular, with initial funding running out in less than two weeks before another round was authorized. Now, thanks to...
FinTech News
Walmart to Launch FinTech Firm with Ribbit Capital
One of the nation's largest and most iconic retailers is about to enter this FinTech field. This week, Walmart announced that it would be launching a financial technology startup alongside venture capital firm Ribbit. While no details about a name or debut for the company were revealed, the goal of the off-shoot will be to "deliver tech-driven financial experiences tailored to Walmart’s customers and associates." While this development may seem...
FinTech News
Mobile Banking App Simple Announces Shut Down
When it comes to FinTech services, the acquisition of a startup can either mean good news for customers thanks to an influx of cash and resources or it could mean deterioration of a product due to neglect. Additionally, while things may seem to be going just fine for an app on the surface, underlying issues may unexpectedly emerge. These realities are what customers of the mobile banking app Simple are...
Best of the Web
Top 10 Personal Finance Articles of the Month — December 2020
It’s time again for one of my favorite features here on Dyer News: a look at the top 10 personal finance articles of the month. With December hosting numerous holidays —including New Year's Eve — we'll start things off with posts related to these events. Then, we'll take a look at the gig economy and some tips for workers. Next, we'll glance at some first-hand spending reports and tips. Lastly,...
Economic News
U.S. Economy Lost 140,000 Jobs in December 2020
There's no question that 2020 will go down as one of the most challenging years in recent memory for many Americans. Yet, after major job losses in the spring of last year, employment began to rebound as businesses were allowed to reopen. Unfortunately, following months of slowing growth, job figures ended the year on a down note. According to the latest report from the U.S. Bureau of Labor Statistics, the...
Economic News
