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Closed accounts, no money: Chime app users complain they were suddenly shut out of their online accounts

Consumers have filed hundreds of complaints saying accounts with the popular fintech app were closed without warning. The company says it can close them “for any reason or no reason.”

Chicago Sun-Times

App doles out refunds after Sun-Times report, where to go apple picking in Illinois and more in your Chicago news roundup

App doles out refunds after Sun-Times report, where to go apple picking in Illinois and more in your Chicago news roundup

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

Chime refunds $977 amid Sun-Times questions, as neo-bank apps face thousands of consumer complaints

Chime refunds $977 amid Sun-Times questions, as neo-bank apps face thousands of consumer complaints

Roderick Woodson of Morgan Park saw $997 mysteriously drained from his Chime Financial account in minutes. The company restored his money after a Sun-Times reporter asked: What happened?

Chicago Sun-Times

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A Canadian telescope wants to measure the Universe’s expansion — it found a “heartbeat”

An ambitious project in Canada recently found a "long" 3-second fast radio burst, which could unearth what causes this weird phenomenon.

7 Hot Upcoming IPOs to Watch For in 2022

There were a record 1,035 IPOs on the U.S. stock market in 2021. Of these, 159 have returned profits to investors. This means that last year, an investor had a 15.36% chance of investing in an IPO that would generate returns. Of the highest returning IPOs of 2021, some include:

Nubank's NYSE Debut has Served as a Much Needed Stock Market Guinea Pig for an Uncertain Fintech Industry

With a powerful collection of some of Wall Street’s most esteemed backers behind the challenger bank, Nubank’s December 2021 IPO was a watershed moment across the whole of the fintech landscape. After its first full quarter as a public company, it’s clear that the performance of NU is going to…

Robinhood Fires Up Rivalry With PayPal and Other Fintech With Latest Launch

Robinhood Markets Inc's (NASDAQ:HOOD) Robinhood Money launched a new debit card to allow spare change investing, Reuters reports. Consumer finance apps like Chime and Acorns Grow Inc allowed spare change investing that lets users invest small amounts of money, which is very popular among younger users. Now Robinhood users could round up their change…

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Meta, Chime File Lawsuit against Alleged Phishing Scam on Facebook, Instagram

Meta, Chime File Lawsuit against Alleged Phishing Scam on Facebook, Instagram

Facebook parent Meta Platforms said on Tuesday it had filed a joint lawsuit with digital banking company Chime against two Nigeria-based individuals who engaged in phishing attacks to deceive people and gain access to their online financial accounts. The lawsuit, which is the first joint complaint between Meta and a…

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