Personal finance company Credit Karma is focusing on helping consumers understand financial resources available to them amid the COVID-19 crisis, CEO Kenneth Lin told Cheddar Thursday.
Lin said the company is tracking both government and private aid to help keep its customers informed.
"When there are forgiveness programs, we want to make sure consumers are out in front of them and know that they're available to help them," he said. "One of the things we're trying to understand, and assessing, is can we track all of the programs that are available."
Lin said he expects dozens, if not hundreds, of programs "for the average consumer" and said it will be "a big challenge" weeding through them in order to find the ones its customers will qualify for.
Credit Karma, founded in 2007 and "born in the last recession," according to Lin, is seeing more usage and engagement, even as the economy falters and unemployment claims continue to rise.
"What we are seeing across the industry is more consumers are looking for personal loans… more and more people are looking for mortgages," he said, though Lin said there aren't enough people in call centers or appraisers to get users through the processes.
"So, while rates are low, the system is somewhat frozen," he said.
Jeremy Fox-Geen, the Chief Financial Officer at Circle, joins Cheddar for a one-on-one interview as the company's stock surges on its first day of trading.
A unanimous Supreme Court has made it easier to bring lawsuits over so-called reverse discrimination, siding with an Ohio woman who claims she didn’t get a job and was demoted because she's straight.
Mike Miedler, CEO of Century21 Real Estate, on why home prices are expected to drop. And what else you need to know about the real estate market right now!
