Tiktok Bans Finance: Tiktok has decided to ban yet another category of content, financial services. “The platform said its policy included, but was not limited to, lending and management of money assets, cryptocurrency, foreign exchange, pyramid schemes, investment services and get rich quick schemes, including others.” This decision was made to deny a platform to those trying to scam young individuals. However, Financial Times draws concern that it may also block informed financial educators from teaching teens and young adults how to handle their money well.
Gentrification of Deposits: Saving money used to be a simple, straightforward task. Your job pays you, you pay your bills, and the money left would be put into a bank account to spend or save for a rainy day. With Fintech on the rise, there are more options available than ever before. Fintech Takes offers some guidance in this changing world to help find the best option for your needs.
Student Loans: As cities begin to open and life returns to normal, many are still struggling to find jobs and make ends meet. While nothing has been decided yet, Sen. Elizabeth Warren and others from the U.S. Department of Education are lobbying President Biden to extend student loan payment suspension. Forbes discusses the positive and negative implications this could have if Biden does indeed extend student loan relief past September 2021.
Unicorn Start-Ups: Startups valued at over $1bn have been popping up all over the stock market. With technology on the rise, everyone wants their piece of the pie. This is causing these former unicorns to gain quick popularity with investors. “Private investors assigned billion-dollar valuations to a record 136 start-ups between April and June”. Financial Times predicts this number to only continue to rise as we enter this new era of finance.