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.
President Donald Trump pulled a rabbit out of his trade war hat this week, announcing a trade deal with Japan putting 15% tariffs on most Japanese imports.
Nextdoor CEO Nirav Tolia shares how the neighborhood app's redesign aims to inform, connect, and protect communities with smarter features and local insight.
Tim Bohen dives into the 'Trump Trade,' renewed tariffs, waning uncertainty, corporate guidance, and what the Fed’s next move means for traders and markets.
Wall Street icon Peter Tuchman dives into Apex Trader Funding’s partnership with Wall Street Global Trading Academy and what it means for the next-gen trader.
Matthew Frankel, contributing analyst at The Motley Fool, discusses the recent SPAC resurgence, investor interest, and what the data says about their future.
Axios’ Neil Irwin unpacks the political clash as the White House explores legal pathways to dismiss Fed Chair Powell, threatening central bank independence.
