money and finance

So This Is How Much The Average Millennial Is Worth

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Financial website The College Investor estimated the average net worth (minus liabilities like student loan debt) and it’s nowhere near the Mark Zuckerbergs or the ’30 Under 30′ profiles of the world. Class of 2016 graduates are carrying $37,172 in student loan debt while Class...

RushCard Agrees To Pay 20.5 Million To The Customers It Screwed Over

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According to court documents filed last week, RushCard, the prepaid card created by hip hop mogul Russell Simmons, has agreed to pay a total of $20.5 million to customers who were temporarily locked out of their accounts last year. RushCard faced technical issues last October...

Study: Having a “Black” Sounding Name Could Prevent You From Getting a Mortgage Loan

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If it was between the names Jessica Smith and LaKeisha Jackson appearing on a mortgage loan application, a new study says that having the “black sounding” name could prevent a person from getting a loan. In a 3-year study led by Andrew Hanson, associate professor...

Mastercard’s New Anti-Identity Theft Technology Will Accept Selfies For Passwords

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If you needed another reason to continue clutching your phone to your chest, look no further. Mastercard’s new anti-identity theft initiative will soon allow you to substitute passwords with selfies. New York Magazine reports that “the new biometric technology requires you to blink while you...

Apparently, It Takes Black Women Longer To Pay Off Their Student Loans

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According to The Simple Truth about the Gender Pay Gap — a report by the American Association of University Women,  women of color have it especially tough when it comes to paying back their student loans. On average, women who graduated college in 2008 paid back 33 percent of...

Toyota Must Pay $22 Million for Charging Minorities Higher Interest Rates

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The Justice Department and the Consumer Financial Protection Bureau on Tuesday announced a settlement resolving allegations that Torrance-based Toyota Motor Credit Corp. discriminated against black and Asian/Pacific Islander borrowers in auto lending. Toyota has agreed that it will not increase rates it quotes to car...