Thursday, April 9, 2026

Upgrade Launches Rewards Checking Account

Thu, 14 January 2021  |  payments banking credit fintech 

Upgrade, Inc., a neobank targeting mainstream consumers, introduced a new mobile checking account. The account comes with no fees and lets customers earn 2% cash back on common everyday expenses and recurring payments, and 1% cash back on all other debit charges. Qualifying customers also enjoy up to 20% lower rates on Upgrade loans.

The unveiling of Upgrade's no-fee Rewards Checking account comes just over a year after the launch of Upgrade Card, the company's flagship product that offers broad access to installment lending at millions of points of sale in store and online t... Read More

Winter Labor Market Getting Colder

Thu, 14 January 2021  |  unemployment 

Layoffs in the US labor market are rapidly trending upwards as the virus continues to spread. Initial unemployment claims rose by 181,000 to 965,000 in the week ended January 9th. In November, the average weekly number of claims was 740,000. Layoff rates from the Job Openings and Labor Turnover survey are also trending upwards, mostly due to restaurant layoffs. Layoff rates in the Accommodation and food services industries rose from 1.1 percent in October to 3.4 percent in November. And December's jobs report showed a decline for the first time since April.

The jump in initial u... Read More

Most Americans Plan Post-Vaccination Splurge

Wed, 13 January 2021  |  pandemic spending 

As COVID-19 vaccinations continue across the nation, bringing hope to millions that an end to the pandemic is on the horizon, more than 8 in 10 Americans who plan to get vaccinated say they're planning a celebratory splurge for 2021.

That's according to a new report from LendingTree. However, not everyone is quite so ready to spend — 15% of people say that in the wake of the pandemic, they'll never feel financially secure again.

Key findings

• 82% of those planning to get vaccinated will splurge on something to celebrate afterward, such as a fancy dinne... Read More

  Consumers Expect Higher Medium Term Inflation and Home Price Growth

  Wed, 13 January 2021  |  consumer expectations housing inflation 

  NEW YORK—The Federal Reserve Bank of New York's Center for Microeconomic Data released the December 2020 Survey of Consumer Expectations, which shows that median inflation expectations increased at the medium-term horizon, and remained unchanged at the short-term horizon. Uncertainty about future inflation increased slightly, remaining at an elevated level. Median home price change expectations increased sharply to its highest level since July 2018.

  The main findings from the December 2020... Read More

  Walgreens Expands Financial Services Offerings

  Wed, 13 January 2021  |  healthcare payments 

  Walgreens is expanding its financial services offering in partnership with Synchrony (NYSE: SYF) and Mastercard (NYSE: MA), as part of its ongoing commitment to offer differentiated healthcare services and benefits to customers. In the coming months, Walgreens will launch credit cards, issued by Synchrony, as well as a prepaid debit card, both of which will be powered by the Mastercard network.

  The credit cards will closely connect with Walgreens new customer loyalty program, myWalgreens, which launched in November 2020, and cardholders will be able to receive myWalgreens cash... Read More

  Global Consumer Confidence Improved in Fourth Quarter

  Wed, 13 January 2021  |  global confidence 

  Global consumer confidence increased in the fourth quarter of 2020, driven largely by an improved outlook for personal finances—which, in many regions, reflect unprecedented fiscal measures in response to COVID-19. Prospects for jobs and spending intentions saw smaller improvements in Q4, according to The Conference Board® Global Consumer Confidence Survey.

  Conducted in collaboration with Nielsen, the survey found that overall global consumer confidence climbed to 98 in Q4 2020, up six points from 92 in Q2 2020. A reading below 100 is considered negative, indicating that consumer... Read More

  
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