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For decades, it’s been a riddle in banking: how do you build a sustainable and profitable business serving low and middle-income consumers? Sixteen years ago, Chris Britt, then chief product officer at Green Dot, believed he’d discovered the answer—direct deposit of paychecks. <br/><br/>Green Dot was selling prepaid debit cards to cash-strapped Americans without traditional bank accounts, and Britt saw that customers who had their paychecks automatically deposited into their Green Dot accounts used the card to pay virtually all their expenses. With each debit card swipe, Green Dot pocketed part of the interchange fees–the 1% to 2% charge merchants pay to accept debit and credit cards.<br/><br/>“The people on direct deposit were clearly the whales of the business,” says Britt, 51, the cofounder and CEO of Chime, the nation’s largest digital-only bank with $1.5 billion in annualized revenue and seven million customers using its cards for $8 billion a month in transactions.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/jeffkauflin/2024/05/03/exclusive-the-inside-story-of-chime-americas-biggest-digital-bank/?sh=4f40891cfb0d<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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Elmer O. Locker jr
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Quadible Integrity - Healing Frequency Music
⏲ 10 minutes 8 seconds 👁 1.2M
Few jobs have the importance of a financial advisor, because whether it’s saving for retirement, long term health care, or a college tuition, they could control your financial fate. Pennygem’s Justin Kircher has more.
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XtremeKidz
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moza morph
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A pair of siblings who thought they were heading to their single mom's friend's home for a surprise birthday couldn’t contain their excitement when they discovered their own possessions and realized she had purchased their dream home. Hard-working mom Melanie has always put her children first, moving five hours across Texas from Wichita Falls to Houston in 2018 to pick up work. With no friends or family in Houston, Melanie later admitted that she struggled to make ends meet as she worked as a respiratory therapist at a local children's hospital for around two years. But in early 2020, the determined mom made a huge call to help put her family on a stronger financial footing. As the pandemic was hitting New York, the area was in desperate need of respiratory experts and medical staff. So Melanie drove to Oklahoma to drop her children off with their grandparents, accepted a FEMA-funded position in New York, and headed to what was, at the time, seen as the epicenter of the virus in America. The 33-year-old said she had nearly tripled her pay in the high-risk role, working 23 days without a break, and then taking just one day off a week for the rest of her three-month position. Having then returned to Texas, Melanie worked to tackle the virus in San Antonio, during which time her improved financial position meant she could sign the papers on a new-build home for her and her children, Zachary and Kairi.
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Sexy Freedom Media
⏲ 52 minutes 51 seconds 👁 36
moza morph
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Welcome to Fan Reviews News. The Trump Media anti-short selling campaign may have inadvertently played into the hands of short sellers. After these investors covered their shorts by buying shares in the 20s, they have been patiently waiting for false claims of victory. It seems that time has come, with the short sellers making their move once again. But did the actions of Trump Media drive them off? Not exactly. They were aware of what was coming and took their gains by covering their shorts. However, they have not disappeared completely. Short sellers will likely return because the Trump Media stock remains overpriced. Given these factors, it is evident that Trump Media Stock is at a high risk of experiencing a new plunge. Investors and market participants should closely monitor the developments and consider the potential consequences for their portfolios. Stay informed on everything happening in the financial world, on Fan Reviews News.
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Warfare - Topic
⏲ 6 minutes 20 seconds 👁 379
Vlogger Satyam Gupta
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