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Will You Be Receiving A $2,000 Stimulus Check From The IRS? Here's What You Need To Know

Is a $2000 stimulus check from the IRS on the way? $2,000 Stimulus Check Over the past couple years, taxpayers have received varying stimulus checks (Economic Impact Payments) dependent on certain qualifications. Under the first Trump administration, and in response to the COVID-19 pandemic, the CARES Act ( Coronavirus Aid, Relief, and Economic Security Act) provided eligible individuals with up to $1,200, plus an additional $500 per qualifying child under age 17 in 2020, a press release mentions. Married couples were given up to $2,400, notes PhillyBurbs. Payments were reduced for those with an adjusted gross income of less than $75,000 or married couples who filed a joint return and earned $150,000. Later that year, in December 2020, a second round of payments was issued under the COVID-related Tax Relief Act, providing up to $600 to qualifying individuals; $1,200 to married couples; and $600 per child under 17. A third stimulus check was sent out in March 2021 allowing eligible...

Jul 21, 2025

Goldman Sachs Hires AI Employee To Help Its 12,000 Developers Build Faster

Goldman Sachs is turning to AI to level up its developer workforce — and its latest team member isn’t even human. The global investment bank is testing an AI-powered software engineer from startup Cognition that can handle everything from writing code to fixing bugs and building full applications, with minimal human support, CNBC reports. Chief Information Officer Marco Argenti said the bank sees this as the beginning of a new kind of collaboration between people and machines. “We’re going to start augmenting our workforce with… our new employee who’s going to start doing stuff on behalf of our developers,” Argenti told CNBC. Goldman Sachs is the first major bank to use the tool and believes this tech has the potential to significantly boost productivity across its 12,000-person developer team. And if it proves successful, the firm may roll out thousands of AI engineers across the organization. What Makes The Goldman Sachs AI Engineer Different This isn’t your average AI assistant...

Jul 16, 2025

Former NFL Player Mike Rucker Files Lawsuit Against Longtime Financial Advisor For Allegedly Misusing Nearly $3M In Funds

Former Carolina Panther player Mike Rucker filed a lawsuit against his financial advisor, Jon Kubler, claiming that Kubler mismanaged nearly $3 million of his earnings. Rucker and his wife, Kristina, filed a lawsuit in a North Carolina Business Court in March, alleging that they had unknowingly invested in a Ponzi scheme. The couple, who met Kubler while Rucker was playing football for the University of Nebraska, claims that Kubler persuaded them to invest in his Nebraska commercial real estate company Aksarben in 2009, according to The Charlotte Observer. They say the investment was a failure and that Kubler did not return their funds or money from other investors. Of the $5.6 million Kubler and his companies — including Steelpool Inc. and Capital Synergy Partners — had raised for commercial real estate companies, only 4% of the funds were reportedly invested in the ventures. Kubler had been the Ruckers’ financial advisor for 21 years and in the early 2000s had “integrated himself...

Jul 7, 2025

SSI Payment Schedule: When Social Security Benefits Will Arrive In July 2025

July is here and social security recipients across the country—particularly those who rely on Supplemental Security Income (SSI)—are keeping a close eye on their bank accounts. For now, the SSI payment schedule remains steady, but a shakeup is right around the corner that could catch some recipients off guard. Here’s what to expect this month and why August’s calendar calls for a little extra attention. July Payment Dates: What You Need To Know If you’re receiving traditional Social Security benefits, your July payment date depends on your birthday. The Social Security Administration will distribute payments throughout the month using the following schedule: Wednesday, July 9 – for birth dates between the 1st and 10th Wednesday, July 16 – for birth dates between the 11th and 20th Wednesday, July 23 – for birth dates between the 21st and 31st For SSI recipients, it’s more straightforward: your monthly payment will arrive on Tuesday, July 1, according to The Hill. However, that won’t...

Jul 1, 2025

FICO To Include Buy Now, Pay Later Data In Credit Scores For The First Time

In a significant update to credit scoring coming this fall, FICO will now include Buy Now, Pay Later (BNPL) data in its credit scores. On Monday, June 23, 2025, FICO announced the launch of FICO Score 10 BNPL and FICO Score 10 T BNPL — the first scores from a leading provider to incorporate BNPL data. BNPL is an interest-free loan that lets consumers split their purchases into smaller payments, AFROTECH™ previously reported. While short-term financing can benefit those with credit cards or who are managing debt, it can also cause harm if late payments occur; lenders can charge high fees, posing a risk for individuals with multiple loans. “Buy Now, Pay Later loans are playing an increasingly important role in consumers’ financial lives,” said Julie May, FICO’s vice president and general manager of B2B Scores. “By expanding our FICO Score 10 Suite with new models designed to incorporate BNPL data, we’re enabling lenders to more accurately evaluate credit readiness, especially for...

Jun 25, 2025

With $65M In Assets, Redemption Bank Becomes First Black-Owned In The West

Salt Lake City, UT-based Holladay Bank & Trust — located in a community with a Black population of less than 3% — is now Redemption Bank, following its acquisition by Redemption Holding Co. (RHC). Initially announced in 2023, the deal marks the first time a Black-led investment group has owned a bank in the Western U.S., according to The Associated Press. Redemption Holding Co. Chairman and CEO Ashley D. Bell, former White House policy advisor, cited the collapse of Silicon Valley Bank in 2023 for the acquisition delay. “This process has undoubtedly taken longer than any of us anticipated,” Bell said. “However, we are grateful for the diligence of the staff at the FDIC, the leadership of the (American Bankers Association), and the renewed sense of urgency from the new administration this year, all of which helped bring everything together.” Redemption Bank is now the first Black-owned bank in U.S. history in the Rocky Mountain region and the only one in the “Black-banking desert,”...

Jun 20, 2025

American Express Plans Biggest Platinum Card Upgrade Yet — Here's What's Changing

American Express (Amex) is planning a major refresh of its flagship Platinum card. In a news release, the company described it as the “largest investment ever” in the Platinum product line, with changes coming to both personal and business versions later this year. “We’re going to take these cards to a new level,” said Howard Grosfield, president of U.S. consumer services at American Express. “Not only in what they offer in travel, dining, and lifestyle benefits, but also in how they look and feel.” Big Moves For Business Builders And Jet-Setters The refresh comes as competition among premium credit cards continues to grow. With options like Chase’s Sapphire Reserve and Capital One’s Venture X gaining popularity, American Express appears to be stepping up to stay ahead. For cardholders who use the Platinum card to manage a busy travel schedule or handle business expenses, the new perks may make it even more worthwhile. Here’s what the company has confirmed so far: New Lounge Access:...

Jun 17, 2025

Marsai Martin Sets Out To Help 10,000 Young Women Build Wealth Over The Next 3 Years

Actress and trailblazing producer Marsai Martin is taking her commitment to youth empowerment to the next level. Through her nonprofit, Marsai’s Way Foundation , the young mogul has partnered with Seeds of Fortune Inc. to reach 10,000 young women over the next three years with financial education, mentorship, and access to wealth-building resources, according to a press release. The partnership officially kicked off June 6 at the Seed Forum: Women of Color Creating Wealth Summit, an event designed to offer young women a rare opportunity to connect with financial leaders and gain insight into how they can grow into economic powerhouses of their own. “At Seeds of Fortune, we believe education is the foundation of economic equity,” Nitiya Walker, founder and executive director of Seeds of Fortune Inc., said in a statement. “Our partnership with Marsai’s Way Foundation allows us to scale this mission and deliver financial literacy, mentorship, and career access to thousands of young...

Jun 12, 2025

IRS Tax Refunds Worth $3,000 On Average Are Coming This June — Here’s Who’s Eligible

A financial boost could be on the way for many Americans this summer, as the Internal Revenue Service (IRS) prepares to distribute tax refunds in June and July. For eligible taxpayers, IRS tax refunds close to $3,000 may be deposited into bank accounts or mailed out within the month, as Mint reports. Who’s Eligible? According to the outlet, taxpayers who submitted their 2024 tax return before the end of May 2025, or filed for an extension, may be eligible to receive the refund. Eligibility is also determined by the accuracy and completeness of your return. If your paperwork was filed electronically and you opted for direct deposit, you’re more likely to receive your refund faster than someone who mailed in a return or is receiving a paper check. The IRS has emphasized that e-filers with no significant errors or missing information, whose returns are not under review or audit, will be prioritized. That means if you submitted your return accurately and early, you could see your refund...

Jun 2, 2025

Is Klarna Shutting Down? Company Logs A Net Loss Of $99M In Q1

Klarna’s plans to go public may need to be on standby. The Sweden-based fintech company has reportedly had a loss of $99 million in Q1 2025, according to Tip Ranks. In comparison, it saw a loss of $47 million in Q1 2024. There are several reasons for this decline. For one, customer credit losses increased by 17%, totaling $136 million, according to its Q1 report. However a spokesperson told The Tab this statistic was to be expected. “Bear in mind that we made 13% more loans than a year ago so, all else being equal, you’d expect credit losses to increase by at least 13%,” the spokesperson mentioned. Klarna And Artificial Intelligence While Klarna replaced human roles with artificial intelligence (AI), as AFROTECH™ previously reported, this decision was driven by a desire to increase operational efficiency and reduce overhead. As a result, 700 customer service representatives were replaced with tools that leveraged OpenAI. Tip Ranks notes that this move did help the company meet its...

May 22, 2025

A Howard University Team Of Finance And Technology Majors Wins $1M For The HBCU In Goldman Sachs Market Madness Competition

Five Howard University students have earned a $1 million grant for their school after winning the fifth annual Goldman Sachs Market Madness competition, as part of its HBCU Possibilities Program, according to an announcement posted on the university’s website. As AFROTECH previously reported, Spelman College won in 2024. The winners of the 2025 Market Madness competition, Keyla Arrechea, Jordan Atkins, Aaron Harrison, Kadijah Mansaray, and Jada Rabun, were among the Howard students in the semester-long program, which is designed to provide, immersive introduction to key financial concepts and their real-world applications, as Goldman Sachs’ website states. During the competition, the Howard team competed against students from 11 other HBCUs. Most of the team had not yet completed their first semester of college when the program began, yet they advanced through two virtual rounds and ultimately delivered their final pitch live at Goldman Sachs’ New York headquarters. They were tasked...

May 9, 2025

Magic Johnson And Angel Reese Have Launched A Financial Literacy Program For High School Seniors In Baltimore, MD

Angel Reese and Magic Johnson have more in common than just their love of basketball. Both Johnson and Reese have found success beyond the sport. In the business world, this has translated into significant achievements for the two: Johnson is now a billionaire , and Reese has established herself as a multi-millionaire student-athlete who successfully transitioned to the WNBA and now holds a multi-year partnership extension with Reebok. Furthermore, the pair share even more common ground: a vision for financially empowering communities. According to its website, the Magic Johnson Foundation’s mission includes providing economic empowerment in ethnically diverse urban communities, while the Angel C. Reese Foundation shares a similar mission, with a specific focus on girls. “The Angel Reese Foundation is dedicated to fostering equity for girls and underrepresented groups through innovative and impactful initiatives. Our main objective is to ensure equal opportunities for all girls in...

May 7, 2025

Not Being Married To The Product Led John W. Rogers Jr.'s Ariel Investments To Diversify And Prove Its Positioning As A 'True Value Investor'

John W. Rogers Jr. had the confidence to make history at 24 years old because he was an investor at 12. As AFROTECH™ previously told you, it would be his father, who made the decision to ensure Rogers received stocks for Christmas and his birthday instead of toys, which included $200 worth of shares from companies such as General Motors and Commonwealth Edison. His father also played a role in him connecting with Chicago, IL’s first African American stock brocker, Stacy Adams, who became a mentor and role model. While both his parents worked as lawyers — his mother even made history as the first Black woman to graduate from the University of Chicago Law School — not to mention his grandfather, he never felt pressure to follow a similar footprint and was trusted to make his own decisions. Ariel Investments Rogers went on to pursue education at Princeton University, earning a degree in economics by 1980. He then spent two and a half years as a stock broker at William Blair and,...

May 2, 2025

Why Some Social Security Benefits Recipients Will Get Double Payments In May

About 7.4 million Americans who depend on social security benefits through the Supplemental Security Income (SSI) program will see two payments hit their accounts in May. It’s not extra money, but it is a significant shift to understand. The Social Security Administration’s (SSA) calendar is the reason for the double deposit, with June’s payment arriving early because the first of the month falls on a Sunday. According to USA Today, the first payment is scheduled for Thursday, May 1, and the second will follow on Friday, May 30. Even though two payments will land in the same month, beneficiaries need to know that the second check is an advance for June. Knowing how and why this happens can help millions who rely on social security benefits plan ahead and avoid gaps in their income. Why Two SSI Payments Are Coming In May Every so often, the SSA’s calendar shifts when regular payment dates fall on weekends or holidays. Instead of delaying deposits, the agency sends payments early....

Apr 28, 2025

Blake Richardson Is Using The Law To Make Blockchain Make Sense — And She's Making Space For Other Black Women At The Same Time

In an era where the boundaries between technology, law, and culture constantly shift, Blake Richardson, Esq., is one of the few professionals standing firmly at the intersection. As chief legal officer at Gala Games, Gala Music, and Gala Film, Richardson navigates one of emerging tech’s most complex regulatory environments: blockchain. But her journey — from working behind the scenes at NBCUniversal, Lionsgate, and the Phoenix Suns to helping shape blockchain legal frameworks — is more than a personal evolution. It’s a case study in how legal minds are increasingly essential to the tech sector’s future. Understanding Legal Tech In The Age Of Blockchain At its core, legal tech encompasses tools that streamline how users interact with and interpret the law. From document automation and case law research to e-discovery platforms and client management systems, legal tech is transforming how firms and in-house departments operate. But as Reuters notes, it’s not just about efficiency —...

Apr 16, 2025

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