Racist lending algorithms, Apple credit card imminent, Fox buys Credible
Huge finance news of the day: Credible, a loan marketplace based in San Francisco, sold a majority stake in the company to Fox.
Fox is no stranger to serving you financially. Fox parent News Corp already owns Realtor.com, where tons of people look at home listings and start their homebuying journey.
Credible helps match lenders with people looking for loans. It’s easy to see how a service like that could complement a listing product that already exists under the News Corp umbrella.
Julian has more on the deal here.
In other news, the Federal Reserve and a big European startup are in a race to make U.S. payments faster. Earlier this week, the Fed announced an ambitious play to bring real-time payments to the U.S. money transfer system.
Then, Swedish payments startup Klarna raised $460m to expand its U.S. network. If all ends well, this will mean you’ll be able to get paid and send money faster and with fewer headaches than before.
Next up, Zillow found that except for the housing-fueled Great Recession in 2008, home values tend to rise 4% on average in recession years. So even through economic downturns, real estate can be a sound investment.
All this and more in today’s Linkage. Enjoy.
- Can algorithms be racist? Trump’s housing department says no(revealnews.org)
- The earned income tax credit accidentally became one of the government's most impactful housing stimuli(theconversation.com)
- Should you get the Apple credit card?(fortune.com)
- Why the stock market must go down, by the master Josh Brown(thereformedbroker.com)
- The Fed wants you to get paid faster(federalreserve.gov)
- While Swedish payments masters Klarna raise $460m to move money faster in the U.S.(techcrunch.com)
- Republican Senators push for bank deregulation(mba.org)
- Fox buys loan marketplace Credible for $265m, where our friend Ron Suber is executive vice chairman(wsj.com)
- Recessions don't actually hurt home values...except for the one that did(zillow.mediaroom.com)
- Everything you need to know about refinancing and interest rates right now(thebasispoint.com)