Author: Fioney Staff
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#MyMoneyStaysLocal Campaign Debuts, Reminding Consumers to Support Small Businesses
With the coronavirus pandemic still heavily impacting American life, small businesses across the nation continue to be among the hardest hit. Not only have closures hurt local businesses but so have shifting consumer habits. For example, rises in online shopping and delivery services have increased as a result of the crisis. While these activities can…
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How Are Consumers Utilizing Credit Card Rewards During the Pandemic?
With the United States economy still suffering at the hands of the COVID-19 pandemic, many consumers have had to grow more savvy in order to weather the storm. According to a recent survey commissioned by the peer to peer payment service PayPal, it seems that, for some Americans, this may include tapping their saved credit…
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Varo Money Granted National Bank Charter, Forming Varo Bank
As several startups have started expanding into banking services, such companies have partnered with existing banks in order to provide FDIC insurance and other benefits to their customers. However, at the same time, some of these businesses have attempted to build their own path by applying for charters — and now one firm has actually…
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Mortgage Company Rocket Announces Initial Public Offering
It looks as though a major FinTech initial public offering is just around the corner. Rocket Companies (referred to as either “formerly known as Quicken Loans” or “the parent company of Quicken Loans” depending on who you ask) will offer 150 million shares of Class A common stock as part of its IPO. Currently, the…
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United States Economy Contracts 32.9% in Q2
As Congress continues to debate potential next steps for financial relief amid the coronavirus pandemic, new figures are showing the economic impacts of the disease. This morning, the Bureau of Economic Analysis reported that the United States’ gross domestic product declined by 32.9% during the second quarter of 2020. That marks the worst recorded quarterly…
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Tax Holidays Coming to Several States Despite Uncertainty
With August now just days away, the 2020 back-to-schools shopping season is also on its way — and it looks a lot different than it did in 2019. Nevertheless, despite a lack of normalcy across the country, several states are still scheduled to offer tax holidays in the coming weeks. But will consumers and businesses…
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Revolut Adds $80 Million to Series D Funding Round
For most startups, securing capital requires soliciting funding. Yet, as some FinTechs become more established, the funding offers may just come to them. That seems to be the case with Revolut, which has just expanded its latest round. London-based FinTech Revolut has revealed that it’s added $80 million to the Series D it originally announced…
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New York Legislature Passes Small Business Truth in Lending Act
For years now, online lending options have made it easier for small business owners to obtain loans, allowing them to access capital much more quickly than in the past. Unfortunately, not all of the lenders were transparent and upfront about their fees and interest rates. In turn, some desperate owners may have accidentally taken out…
