Category: Personal Finance
Personal finance and money management can be very confusing. Most people know that optimizing their finances is important but few feel confident that they have the knowledge to do so.
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Personal Finance
Personal Finance
P2P Lending Platform SoLo Funds Responds to CFPB Lawsuit
After being sued by the Consumer Financial Protection Bureau (CFPB), the FinTech SoLo Funds has now issued a response. About the lawsuit and response: Recently, the CFPB announced that it was suing SoLo Funds, accusing the company of misleading customers about the true costs of loans obtained through the platform. This stems from SoLo's model, which allows prospective borrowers to offer a "tip" to lenders as well as provide a...
Personal Finance
Robinhood Introduces Lowered Margin Interest Rates
The popular investing platform Robinhood has announced new margin rates as it looks to attract advanced traders. About the changes: Robinhood is rolling out new, lowered margin rates. Now, the rates that customers pay will vary by their total margin balance, with these rates ranging from 5.7% to 6.75%. These tiers breakdown like this: Up to $50k: 6.75% $50k to $100k: 6.55% $100k to $1 million: 6.25% $1 million and...
Personal Finance
FinTech Fallout: Lessons From the Synapse/Evolve Bank Dispute
Over the past several years that I've been covering FinTech, I've seen my fair share of apps shut down. Yet, I've never seen anything quite like the situation that's playing out right now. As of this writing, several neobanking customers are unable to access their funds due to a dispute between Synapse and Evolve Bank. So, what is going on between these two and how does it impact some FinTech...
Personal Finance
Accounting Infrastructure Startup Teal Raises $8 Million
A FinTech offering accounting infrastructure tools for vertical SaaS businesses to adopt has announced its seed round. About the round: Today, Teal announced that it had raised $8 million. The seed round was led by Torch Capital, while Basis Set Ventures, General Advance, and Dash Fund also participated. Additionally, execs from Plaid, Brex, Gusto, and others are among the angel investors contributing to the round. This is the startup's first publicly...
Personal Finance
Vehicle-Secured Credit Card Company Yendo Raises $165 Million
A FinTech that offers the first-ever credit card secured by a customer's vehicle has announced its latest round of funding. About the round: This week, Yendo announced that it had raised $165 million. However, this includes $150 million in debt financing and $15 million in equity. The debt portion was led by i80 group, while the strategic investors that participated in the equity round were not disclosed. Yendo previously raised...
Personal Finance
Lessons From a First-Time Home Buyer: Worst Time to Buy a House? There Are Always Exceptions
If you've been thinking about buying a house, looking at the news lately has likely disheartened you. As CNN reports, a recent Gallup poll found that 76% of Americans believe it's a bad time to buy — with only 21% saying it's a good time. There are several reasons for that sentiment, with the top two being the combination of high interest rates and high home prices. So, are you...
Personal Finance
