Pushed by a surging stock market, U.S. household wealth popped a 2.3 percent increase during the last three months of 2016, landing at a total of $92.8 trillion. The big bounce has some market watchers excited — the gains may predict a spending surge that...
While cash’s death worldwide has been widely forecasted for the better part of 20 years, cash is still alive, well and, in many places, still king. While the magic and promise of digital payments in all their various forms gets a lot of airplay —...
Math, as it turns out, is doing more than making millions of teenagers unhappy over hard homework right now — it’s also making the world less democratic and egalitarian. In the wrong hands, mathematics can become a “WMD” — a weapon of math destruction. Most...
Promoting transparency in credit scores sounds like the ideal, but putting it into action is a whole other story. But as consumer behaviors and lending environments change, having confidence in credit models becomes critical. Sarah Davies, SVP of product development and analytics at VantageScore Solutions,...
After decades of oppression, the economy of Myanmar opened to foreign investment, and many companies are jumping at the chance to help establish tech advancement and FinTech services for the unbanked. One of these firms, Forbes reported, is Red Dot Myanmar, which enables users to...
With increasingly few exceptions, the ranks of the unbanked seem to be on the decline, according to new data released by the FDIC. The percentage of Americans going without banking services fell to 7 percent in 2015, from 7.7 percent in 2013. According to FDIC...
Hip-hop entrepreneur Russell Simmons rolled out RushCard about a decade ago; a year ago the pre-paid card product was swarmed by bad press after a technical glitch left customers unable to access their funds. Now RushCard is on the comeback tour — a walk back paved...
Millennials are buying fewer houses than their Baby-Boomer counterparts – that is inarguable by the data. Across age groups, the U.S. homeownership rate has fallen to a 50 year low – 62.9 percent – and that dip is mostly powered by millennial homebuyers who aren’t buying. Among...
According to new data from the New York Federal Reserve, credit card debt is enjoying a resurgence even among those with low credit scores. In Q2 alone, household debt climbed by $35 billion to $12.3 trillion, according to the NY Fed’s last quarterly report on...
