"At SoFi, we're committed to helping people achieve financial independence both directly through the SoFi brand, as well as indirectly, through partnering with leading brands like Samsung to help the world get their money right," said Anthony Noto, CEO of SoFi. "We're excited to partner with Samsung, a world-class technology company, to help power this next-generation financial experience, while expanding the impact of SoFi exponentially."
Now more than ever, people are counting on their technology to help them pay, shop, and manage their finances. At the same time, many people prefer payment methods that can earn interest instead of paying it. Samsung Money by SoFi offers the best of both: no account fees, higher-interest earning, money management experience that combines the convenience of mobile payments and the control of a debit card.
Other things to check out:
Two-thirds of laid-off workers may temporarily be receiving more money in unemployment
As federal lawmakers debate another relief package for the coronavirus pandemic that's put approximately 35 million Americans out of work , a new study shows how generous (or not) the added unemployment benefits were in the initial stimulus bill addressing the crisis.
Two-thirds (68%) of jobless workers would bring home more money from their state unemployment insurance plus the $600 weekly supplement from the federal government than they would have on the job, according to University of Chicago researchers.
Coronavirus in Ohio: Your COVID-19 money questions, answered
It's hard out there. And, in this time of uncertainty, USA TODAY is working to find answers to your money questions – anything from stimulus checks or unemployment benefits to your 401(k) or retirement plans. You can submit your questions here and read earlier answers below.
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What if I don't qualify for unemployment insurance? Am I still eligible for the $600 weekly federal stimulus?
... My hours have been reduced, plus a 10% salary decrease. If I'm eligible for the extra $600, should I keep certifying with unemployment each week, so that I can receive that or should I stop certifying, as it will be sent to me anyway?
On The Money: McConnell: Talking about fifth coronavirus bill 'in next month or so' | Boosted
Happy Tuesday and welcome back to On The Money . I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.
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"It ought to be very carefully targeted to correct the mistakes that we certainly made in passing a multitrillion-dollar bill in one week. ...There are some other needs that need to be met," McConnell said on Tuesday about potential additional legislation. The Hill's Jordain Carney has more here.
This may worth something:
Refinancing your mortgage will save you the most money in these cities right now | Fox Business
The effects of the coronavirus continue to spread across the U.S. months after the first reported cases of the virus. As many people continue to struggle with health issues, income loss, unemployment , and social distancing, many consumers are considering refinancing as mortgage rates reach a historic low .
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Factors that could affect how valuable a home refinance includes equity, your credit score and whether refinancing would allow you to ditch your private mortgage insurance . If you have at least 20 percent equity in your property, you’re more likely to benefit from refinancing your home.
Mexican workers in US are sending record money home despite coronavirus-related economic shutdowns
Araby Smyth receives funding from the International Chapter of the P.E.O., National Science Foundation and Society of Woman Geographers.
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One might think Mexican immigrants in the U.S. would be sending less money home to their families as a result of the coronavirus.
In March, analysts at BBVA bank predicted that migrant remittances to Mexico could fall as much as 21% because of stay-at-home orders and record unemployment in the U.S. Instead, remittances reached a record high in early 2020 , the Bank of Mexico recently reported. Mexico received $4.02 billion in March 2020, a 35.8% increase over March 2019 .
Money, money everywhere, but not a lot to spend - The Mountain Times
Vermont's April revenue collections highlight the absurdity of federal rules restricting the use of the Coronavirus Relief Fund—the $150 billion that Congress appropriated in the CARES Act to help the states. The state's personal income taax receipts dropped by two-thirds last month. Instead of taking in $184 million, as forecast, the tax department received $63 million.
One of the most critical problems facing states now is the sharp drop in tax revenue because so many people are out of work. We've known unemployment is bad. About 90,000 Vermonters have filed initial claims for unemployment benefits, which are reported on a weekly basis. That's been mostly in the last six weeks, and that number is more than a quarter of the people who were working in February.
Stimulus prepaid debit cards: Chapel Hill woman accidentally threw her stimulus money away and
Chad Polidore filed for unemployment with the state at the beginning of April, but six weeks later, his case was still pending, despite making countless calls to DES.
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