Wednesday, August 20, 2025

COVID-19 Delays Financial Goals

Tue, 02 February 2021  |  pandemic retirement 

According to a new survey from TD Bank, 1 in 10 American couples were furloughed, lost their job, or had their hours decreased as a result of COVID-19, forcing them to put off certain financial milestones. Despite a sharp decrease in large purchases due to economic uncertainty, the findings revealed that more couples are having conversations about money while they are at home. The survey polled 1,709 U.S. individuals who are married, in a committed relationship or divorced to better understand how they approach finances in their relationships.

Of the couples surveyed, 67% said t... Read More

Half of Americans Need a Third Stimulus Check Within Next 3 Months

Tue, 02 February 2021  |  retirement 

The latest Retirement Confidence Index from SimplyWise.com found that concerns over personal finances and savings remain high for all Americans. Yet certain populations, including seniors, people of color, and lower income Americans are disproportionately feeling the impact of the virus on their finances.

Key report findings included:

• 55% of people are more concerned about retirement today than this time last year.
• 44% of Americans worry they'll never be able to retire—an all-time high.
• 23% of Americans don't have any kind of retire... Read More

  Digital Banks Should Focus on Growing Share of Banking

  Mon, 01 February 2021  |  banking 

  Today's consumer is very loyal to their bank, and holds onto their account for an average of 14 yearsi. At the same time, more than 40 million U.S. consumers have gone digital with their banking and a large percentage now have multiple accounts, presenting an opportunity for neobanks and digital banks to grow, simply by focusing their acquisition efforts on increasing share of banking (versus switchers).

  These are among the actionable insights identified in new research from Meta Payments, a division of MetaBank®, N.A., and Visa®, The Digital Migration: Growing Share of Bankin... Read More

  CBO projects the economic expansion will continue

  Mon, 01 February 2021  |  economy 

  In its latest ten-year economic overview the Congressional Budget Office (CBO) projects that the economic expansion that began in mid-2020 will continue. Real GDP is projected to return to its prepandemic level in mid-2021. The number of people employed is projected to return to its prepandemic level in 2024.

  The 2020–2021 coronavirus pandemic caused severe economic disruptions last year as households, governments, and businesses adopted a variety of mandatory and voluntary measures— collectively referred to here as social distancing—to limit in-person interactions that co... Read More

  Bank of America Clients Increasing Digital Engagement

  Mon, 01 February 2021  |  banking digital 

  Bank of America saw record levels of digital engagement among new and existing clients last year. The company’s 39 million digital clients, including 31 million active mobile users, increasingly adopted key features within its mobile and online platforms – including mobile check deposits and digital lending applications, Erica®, Zelle®, Life Plan® and CashPro®.

  The financial services company has seen a surge in digital engagement. Today, approximately 70% of Bank of America consumer client households and small business clients and 77% wealth management client households... Read More

  Status Money Launches Virtual Coaching Starting at $3 per Month

  Mon, 01 February 2021  |  financial advice 

  Status Money announced the launch of its financial coaching service that connects individual members with certified financial professionals via video conference. Access to professional financial guidance and advice has never been more important, with 40% of US investors in a recent survey saying they need more advice and 19.1 million unemployed or under-employed Americans struggling to navigate the economic fallout of the pandemic.

  “It’s no surprise that people feel starved for good financial advice – managing money is hard enough, but doing it alone and during a pandemic... Read More

  
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