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This Week in Finance News: 12 Stories You Need to See
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May 26, 2023, 7:02 AM ET
A roundup of the week's most newsworthy financial industry press releases from PR Newswire, including Venmo's new account for teens and Rocket Mortgage's new home loan program.
NEW YORK, May 26, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Despite Economic Challenges, Americans Still Prioritize Saving for Education, Edward Jones Survey Finds
"While it is great that Americans are prioritizing saving for education expenses, it's unfortunate that the awareness of 529 plans has declined substantially," said Steve Rueschhoff, Principal, Managed Investments and Insurance at Edward Jones. "With changes to federal and state laws, 529 plans can now be used for more things, benefiting more Americans and their opportunities for education and advancement."
- Introducing the Venmo Teen Account
For the first time, the Venmo Teen Account gives teenagers a way to engage with and learn more about managing money through the Venmo app. The Venmo Teen Account will allow parents to monitor transactions, manage privacy settings, send money to their teen, and will help parents to educate their teens on creating healthy money habits.
- Rocket Mortgage Addresses Affordability Challenges with New 1% Down Home Loan Program
Rocket Mortgage, the nation's largest retail home lender and part of Rocket Companies, introduced ONE+, a new 1% down home loan program that will dramatically increase access to homeownership for millions of low-to-moderate-income earning Americans.
- Brave Wallet Integrates BitPay Payment Protocol for Seamless Crypto Payments Online
BitPay, the world's leader in cryptocurrency payments, announced that Brave Wallet has implemented the BitPay Protocol, enabling its crypto wallet users to make easy, accurate, and reliable payments straight from the Brave privacy browser.
- Sproutt Introduces Generative AI Capabilities to Take its SmartLife Agent Platform to The Next Level
Sproutt's SmartLife platform is leveraging the power of generative AI to create unique and personalized client communications based on multiple data sources and previous interactions with clients. By evaluating this data, the platform will generate relevant and timely content that agents can utilize to enhance customer engagement and sales.
- Investopedia Announces Winners of the Best Credit Cards 2023 Awards
Investopedia's experts reviewed over 50 data points across more than 300 credit cards, evaluating each on the factors that matter most to consumers. From rewards and fees, to security and interest, Investopedia's Best Credit Cards 2023 identifies the top cards for consumers across lifestyles, spending categories, and credit scores.
- Bain & Company predicts concerning macroeconomic environment for higher education, calls pandemic-era financial health an anomaly
"An influx of federal aid, a booming stock market, and dramatically lower operating costs enabled institutions to be much more resilient than expected. But looking ahead, institutions can't rely on the largesse of the federal government and stock market returns to drive their financial sustainability."
- Zillow's top markets for college grads offer a balance of opportunity and affordability
"Graduating from college and moving to a new city to start your career is a major milestone. For many, it's a reality check when they realize how much of their hard-earned paycheck goes straight to rent," said Anushna Prakash, an economic data analyst at Zillow.
- Economic Climate Has Retirement Savers Eyeing Guaranteed Lifetime Income and Financial Planning Options, Morning Consult Survey Finds
"Retirement savers are clearly concerned about inflation and the overall economy. Guaranteed lifetime income products, which life insurers offer through annuities, and access to financial planning options, are two ways retirement savers indicate they can address their concerns," said ACLI President and CEO Susan Neely.
- New Coupa Treasury Innovations Help Businesses Reduce Financial Risks
Volatile macroeconomic environments have exposed vulnerabilities in the banking industry, requiring businesses to have greater visibility into liquidity and mitigate risks more quickly. New innovations announced today from Coupa Software, the leader in Business Spend Management (BSM), allow treasurers to gain full visibility, efficiently manage cash, and proactively monitor liquidity risks at scale.
- Alviere & Array Partner to Enable Financial Wellness and Education Tools in Enterprise Embedded Finance Platform
Alviere, the leading global embedded finance platform, is proud to announce that it is partnering with Array to offer Alviere's enterprise clients customizable digital credit and identity tools to increase digital engagement, generate revenue, and help end customers own their financial future.
- Operation hope's award-winning "1 million black businesses" initiative continues to create, build and sustain new entrepreneurs
"1MBB's mission to build Black businesses is not simply about selling products and services —it's designed to help families create a legacy that uplifts and transforms communities," said John Hope Bryant, Founder, Chairman and CEO of Operation HOPE.
Read more of the latest finance-related releases from PR Newswire and stay caught up on the top press releases by following @PRNfinance on Twitter.
In addition to these popular releases, several must-read earnings reports crossed the wire this week, including the quarterly results for BMO Financial Group.
Catch up on all the latest earnings reports here.
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