Credit cards may soon be a thing of the past as consumers will ditch the plastic and opt for digital solutions, according to financial company, Affirm.
The company recently launched an alternative lending app., that doubles as a digital credit card. Jack Chou, the company's Head of Product, joined us to discuss his strategy to reinvent credit.
Chou breaks down the three reasons credit cards are broken. He says companies profit off of consumer missteps and interests are not aligned. Also, traditional credit companies make more money on fees than other services, something his company is looking to counter.
Chou highlights that Affirm doesn't profit off user missteps, and its goal is to be transparent. With the new product, Affirm believes it is reinventing credit for the 21st Century.
The plans would include nearly 20,000 homes initially for 50,000 residents and could grow to 400,000 people.
In an annual assessment of global inequalities, Oxfam International said the first trillionaire could emerge within the next decade — as the anti-poverty organization pointed to the growing wealth gap that skyrocketed globally during the pandemic.
The Biden administration proposed a cost drop for overdrawing bank accounts, which it says could particularly relieve Americans living paycheck to paycheck.
With thousands of layoffs in tech and beyond, how workers can keep their skills sharp, plus reasons to be hopeful when looking at the job market.
Taking a look at investment strategy as the new year gets into full swing.
Americans stepped up their spending in December more than expected, closing out the holiday season and the year on an upbeat tone. The Commerce Department said retail sales rose 0.6% in December compared with a November’s 0.3% increase.
A New York architect charged in a string of slayings known as the Gilgo Beach killings was accused in a 25-year-old Connecticut woman's death.
Uber purchased Drizly in a cash-and-stock deal for $1.1 billion in 2021. The drink delivery app will shut down in March, according to Uber.
After Donald Trump's victory at the Iowa caucus, Nikki Haley and DeSantis continue their campaigns as New Hampshire's primary looms.
Christine Short, VP of Research at Wall Street Horizon, shares insights on small and big banks earnings, a fresh round of layoffs in the tech world, and what to expect from upcoming rate decisions.
