Author: Kyle Burbank
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Report: 401(k) Balances Rise, Hardship Withdrawals Increase
A newly-released report looking at 401(k) account balances at Bank of America shows that, while overall balances are trending upward, more people are also requesting hardship distributions. About the report: According to the BofA report, the average 401(k) account balance at the end of last quarter was $82,300. That’s up by $7,250 so far in…
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PayPal Launches PYUSD Stablecoin
PayPal is expanding its digital payments network with the introduction of a new stablecoin. About PYUSD: This week, PayPal announced the launch of a United States dollar-backed stablecoin called PayPal USD — or PYUSD. These coins will be redeemable at a 1:1 ratio for U.S. dollars and will be issued by Paxos Trust Company. In the…
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American Express Green Card Credit Card Overview
In the past, I’ve talked a lot about American Express cards such as the Platinum and Gold cards. However, there’s a third option in this line-up that isn’t as discussed these days: The American Express Green Card. Ironically, once you see the card, you may realize that it’s actually what you envision when you think…
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Greenlight Family Cash Cardholders Can Help Teens Build Credit
A popular platform for teaching children and young adults about managing their finances is now offering a way for them to also built credit via their parents. What’s new: Adults with the Greenlight Family Cash Card can now help their teens build credit even before they turn 18. As Greenlight has announced, cardholders can add…
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Apple Card Savings Accounts Surpass $10 Billion in Deposits
Apple’s latest financial service is off to a hot start, with the tech firm announcing that deposits have broken through a major milestone. What’s happening: Recently, Apple announced that their high-yield saving account called Apple Card Savings had reached more than $10 billion in deposits. This achievement comes less than four months after the account…
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U.S. Gas Prices Surge Week Over Week
Americans setting off on late-summer road trips are likely to encounter higher prices at the pump due to a confluence of factors. The latest figures: According to the newest data from GasBuddy, the national average for a gallon of gasoline rose 16.5¢ from one week prior. Currently, the average is $3.72 per gallon based on…
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Knot Card-on-File Management API Raises $10 Million
A FinTech that helps customers update their payment information for more seamless e-commerce has raised an eight-figure Series A. About the round: This week, Knot announced that it had raised $10 million. The Series A was led by Nava Ventures while Amex Ventures, fellow FinTech Plaid, and several individuals also participated. To date, the company…
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FinTech B Generous Signs Equity Deal with NFL’s Damar Hamlin
A FinTech aiming to make donating to charity more accessible has announced a partnership with an NFL star. About the deal and B Generous: This week, B Generous announced a collaborative partnership with football player Damar Hamlin. As part of the deal, Hamlin will receive equity in the startup while also working with the firm’s…
