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U.S. Unemployment Rate Retreats to 11.1% in June

Last month saw more Americans returning to work, even as the COVID-19 pandemic rolls on. According to the latest Bureau of Labor Statistics report, the United States economy reclaimed 4.8 million jobs in June. That's a notable increase from the 2.7 million added in May (adjusted from the original 2.5...

FICO Introduces New Consumer Resilience Index

In recent years, there's been plenty of discussion about making changes to the credit score system that most Americans are forced to live by. In addition to some FinTech lenders developing their own decision algorithms, products such as Experian Boost have allowed consumers to provide more information that might help...

Money at 30: "Passive Income, Aggressive Retirement" Book Review

As I may have mentioned in earlier columns, I've been making a point of doing more book reviews as of late. Yet, when I set out this goal, I didn't really have a reading list in mind. That's why it's always exciting to discover a new potential option — in...

Empower Retirement To Acquire Personal Capital for Up to $1 Billion

The FinTech personal finance and investment tracking platform Personal Capital has just announced a big exit. This week, the company revealed that it is being acquired by retirement plan recordkeeper Empower Retirement. This acquisition will cost Empower up to $1 billion, with $825 million coming at closing and a contingency...

Renters Insurance: How Pennies a Day Can Save You Thousands 5

Do you have renters insurance? Have you ever even heard of it? If not, you’re certainly not alone as surveys have found that less than 40% of those who rent carry a renters insurance policy. When you consider the fact that 95% of homeowners have homeowner’s insurance, it’s clear to...

American Express Commits $200 Million to Latest Shop Small Campaign

For some time now, American Express has made its support of small businesses clear. While the credit card company's best-known link to the small business world is their invention of Small Business Saturday — which is celebrated on the Saturday after Thanksgiving each November — their Shop Small efforts are...

U.S. Consumer Spending Increased in May, Income Fell

With the United States still navigating unprecedented times due to the COVID-19 pandemic, a new report brings both good and bad news on the economic front. According to the latest figures from the Bureau of Economic Analysis, personal consumption expenditures (PCE) grew 8.2% in May to reach $994.5 billion.

Mastercard to Acquire FinTech Firm Finicity

To most people, companies such as Visa and Mastercard are viewed as institutions akin to banks. In reality, each of these firms consider themselves to be technology companies — or FinTechs, even. It should come as no surprise then that each card company has been looking to expand their offerings,...