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☆ You probably think the economy is much worse off than it is
▼ + stars: | 2023-07-05 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Inflation is cooling and jobs abound, but many Americans still feel dissatisfied with the economy. Democrats and Republicans alike think the economy is struggling, despite evidence showing otherwise. Some say the US is in a "vibecession," a disconnect between how the economy performs and how Americans feel about its performance. Even now, with slower inflation, paused interest-rate hikes, and a healthy job market, Americans can't give up the idea that the economy is in trouble. If you're comparing your financial situation with that of three years ago, you're likely to feel as if the economy has gotten worse, even though it's actually gotten better.

Persons: —, Joe Biden, Trump, it's, Kyla Scanlon, Scanlon, Jamie Dimon, JPMorgan Chase, Goldman Sachs Organizations: Democrats, Service, University of Michigan, Pew Research, Pew, Bureau of Labor Statistics, JPMorgan, CNN, New York Fed, Conference Board, US

☆ Analysis: Why the Supreme Court won't see a backlash this time
▼ + stars: | 2023-07-02 | by ( Harry Enten | ) edition.cnn.com time to read: +5 min

CNN —The Supreme Court handed down several key rulings this past week that dismayed liberals. This majority of Americans who wanted abortion to be legal nationally have maintained their stance since the Supreme Court officially struck down Roe in June 2022. Rather, it’s how many people simply didn’t care enough to pay close attention to the affirmative action case before the Supreme Court. Ipsos’ survey found that 43% of Americans wanted the Supreme Court to allow the government’s student loan forgiveness plan to move forward, while 40% did not. This led to a historically strong performance for the party in the White House during the 2022 midterm elections and a major backlash against the Supreme Court.

Persons: Joe Biden’s, Roe, Wade, Tayfun, Biden, hadn’t, Marquette, Ipsos, don’t, Wade didn’t Organizations: CNN, Supreme Court, Fox News, ABC News, Washington Post, Anadolu Agency, Getty, Pew Research Center, CBS, May Marquette University Law School, NBC, Roe, Supreme Locations: California, Kentucky, New York City, Marquette

☆ AI could supercharge the Gen Z takeover
▼ + stars: | 2023-07-01 | by ( Alexandra York | Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Experts told Insider that Gen Z was well positioned to capitalize on the AI boom. That could supercharge Gen Z careers, as generative AI is expected to affect millions of jobs, and companies are already seeking talent to help navigate those changes. "From that perspective, Gen Z should be in a good position to capitalize on the AI boom." Gen Zers are using AI for research and brainstormingLais Silva, a Gen Z content manager at a social-media startup, said she'd essentially replaced Google with ChatGPT. Older generations could have a competitive edge over Gen Z because of experience — if they're open to learning AI toolsThe AI revolution isn't guaranteed to be a boon for Gen Z workers.

Persons: Z, —, AJ Eckstein, He's, He'll, Eckstein isn't, they'd, Gen Zers, ChatGPT, Carl Benedikt Frey, Eckstein, Lais Silva, she'd, Morgan Young, chatbots, She'll, Oxford's Frey, Columbia's Netzer, Gen Organizations: Service, Fortune, Columbia Business School, Pew, Oxford University, Google

☆ Americans' donations to charity are at a 28-year low. Blame inflation, the rise of crowdfunding, and the decline of religion.
▼ + stars: | 2023-07-01 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

It's part of the decades-long trend in which Americans have scaled back their charitable giving. There's evidence that this shift has impacted charitable giving. From 2000 to 2016, the share of Americans giving to religious causes fell from roughly 47% to 32%. Other donors have shifted their giving to political causes that wouldn't be classified as charitable giving either. Looking forward, Birkholz said he's optimistic the total giving figure will bounce back in 2023.

Persons: —, Josh Birkholz, We've, Birkholz, Jonathan Meer, Zers, I'm Organizations: Service, Privacy, Indiana University's School, Philanthropy, Indiana University, Pew Research Locations: Texas

☆ By striking down affirmative action, the Supreme Court put forth a dangerous and false ideal of 'colorblindness'
▼ + stars: | 2023-07-01 | by ( Trisha Gopal | ) www.businessinsider.com time to read: +12 min

Sotomayor and Thomas are both the likely beneficiaries of affirmative action. A student at Harvard University at a rally in support of keeping affirmative action policies outside the Supreme Court on October 31, 2022. A young boy at the University of California, Berkeley in 1995 as students and families protested to keep affirmative action policies. In a statement following the ruling, former president Barack Obama wrote, "Like any policy, affirmative action wasn't perfect. Roberts accused the colleges' affirmative action programs of "employ[ing] race in a negative manner" without any "meaningful end points."

Persons: Sotomayor, —, Clarence Thomas, Thomas, Sonia Sotomayor, colorblindness, Colorblindness, Howard Schultz, Tomi Lahren, Plessy, Ferguson, John Marshall Harlan, Antonin Scalia, Justice Roberts, Harlan's, David Butow, Roberts, Barack Obama, Michelle, haven't, Evelyn Hockstein, Michelle Obama, Katherine Phillips, Phillips Organizations: Supreme, Service, Harvard University, University of North, Latina, Yale Law School, Starbucks, Washington Post, Getty, Black, Seattle School District, University of California, Harvard, UCLA, UC, REUTERS, Princeton, Scientific, Columbia Business Locations: Berkeley, University of North Carolina, California, Idaho

☆ Opinion: It’s time to bring these US military veterans home
▼ + stars: | 2023-07-01 | by ( Opinion Saúl Ramírez | ) edition.cnn.com time to read: +9 min

CNN —Bartolomé, a US military veteran, has spent the last 15 Fourth of July holidays in Mexico. “It’s a stab in the back.”Between 2013 and 2018, 250 US military veterans were placed in removal proceedings and 92 were deported. Unfortunately, an accurate count of deported veterans is nonexistent, because Immigration and Customs Enforcement does not keep a comprehensive record of removed US veterans. Veterans who did not receive a dishonorable discharge are entitled to a military burial in the United States. As a result, the urgency in addressing noncitizen military members’ precarious situation is particularly palpable now.

Persons: CNN —, he’s, Saúl Ramírez Christopher Smith Bartolomé, ” Bartolomé, ”, “, Joe Biden, Mark Takano, Sen, Alex Padilla, “ I’m, I’m, ‘ I’m, ’, Bartolomé, ‘ Don’t, they’ve Organizations: Harvard University, CNN, US Armed Forces, Pew Research Center, United States, Judiciary, Department of Homeland Security, Immigration, Immigration Services, Department of Defense, Immigration Systems, New, of State, Department of Justice, DHS, of Homeland Security, Committee, Veterans Affairs, Veterans, Los, Twitter, Facebook, Bartolomé Locations: Mexico, United States, Los Angeles

☆ A record-high number of 40-year-olds in the US have never been married, study finds
▼ + stars: | 2023-07-01 | by ( Ashley R. Williams | ) edition.cnn.com time to read: +3 min

CNN —If you’ve made it to your 40th birthday without tying the knot, you’re not alone, according to a recent report from the Pew Research Center. A look at 2021 US Census Bureau data found a quarter of 40-year-olds in the United States had never been married, the research center announced Wednesday. The findings were a “significant increase” from the 20% of unmarried 40-year-olds in 2010, according to the study. The findings, which suggest a shift in Americans’ views of the importance of getting hitched, differed widely to the statistics reported decades ago in 1980, when just 6% of 40-year-olds had never married, Pew reported. If the pattern continues, the research center anticipated that “a similar share” of never-married 40-year-olds would also get married in the coming years.

Persons: you’ve, you’re, Pew, ”, Richard Fry, ” Fry Organizations: CNN, Pew Research Center, Pew, University of Virginia’s Locations: United States

☆ The ground has shifted on gay marriage for conservative Christians.
▼ + stars: | 2023-06-30 | by ( Ruth Graham | ) www.nytimes.com time to read: +1 min

For decades, opposition to same-sex marriage was a marquee issue for the religious right in the United States. Activists like Anita Bryant, Jerry Falwell and James Dobson characterized homosexuality as a threat to traditional family life. Public opinion on same-sex marriage has turned rapidly toward acceptance this century. In the early 2000s, about 60 percent of Americans opposed it, according to the Pew Research Center. Another poll by Pew found that almost half of white evangelicals born after 1964 favored same-sex marriage in 2017, compared to about a quarter of older white evangelicals.

Persons: Anita Bryant, Jerry Falwell, James Dobson, Hodges, Tony Perkins, ”, Franklin Graham, Pew Organizations: Family Research, Christianity Today, Pew Research Center Locations: United States, Obergefell

☆ Supreme Court ends affirmative action in college admissions
▼ + stars: | 2023-06-29 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

The Supreme Court ruled Thursday that affirmative action in college admissions was unconstitutional. Earlier Supreme Court cases have upheld affirmative action — the practice of giving additional weight to applicants who belong to groups that have historically been the subject of discrimination — for four decades. Ever since former President Donald Trump cemented a 6-3 conservative majority on the Supreme Court, legal experts have expected the Supreme Court to do away with affirmative action altogether. Students for Fair Admissions brought two lawsuits that ended up before the Supreme Court last fall, against Harvard University and the University of North Carolina, alleging they discriminated against white and Asian-American students. Every US college and university the justices attended, save one, urged the court to preserve race-conscious admissions.

Persons: —, Robert Blum, Donald Trump, Justice Thomas Roberts, Roberts, Ketanji Brown Jackson, Sonia Sotomayer, Kevin M, Jackson, Elena Kagan, Neil Gorsuch, Kagan, Amy Coney Organizations: Harvard University, University of North, Service, Fair, Ivy League, Pacific, Associated Press, NORC, for Public Affairs Research, Pew Research Center, Harvard, — Yale, Notre Dame, Rhodes College Locations: University of North Carolina, Carolina, North Carolina, States, America, American, Pacific Islander, California , Michigan, Washington, Arizona , Florida, Georgia , Nebraska , New Hampshire, Oklahoma, California, U.S, Princeton, Columbia, Memphis , Tennessee

☆ Views on affirmative action are split along racial and political lines.
▼ + stars: | 2023-06-29 | by ( Ruth Igielnik | ) www.nytimes.com time to read: +1 min

But a close look at recent polling on the issue shows that attitudes about affirmative action differ based on whom you ask — and how you ask about it. Most respondents who disapproved of affirmative action said the policy made the admissions process less fair overall, and a narrow majority said it would result in less-qualified students being accepted. Affirmative action supporters, by contrast, largely said it ensured equal opportunity and improved students’ educational experiences. A majority of Asian Democrats who had heard of affirmative action said it was a good thing, while Asian Republicans were more likely to say it was a bad thing. Asian Republicans with a postgraduate degree were nearly twice as likely to disapprove of affirmative action than those with a high school diploma or less.

Organizations: Pew Research Center, Pew, Black, Democrats, Republicans

☆ How to Wean a Teen Off Social Media
▼ + stars: | 2023-06-29 | by ( Catherine Pearson | ) www.nytimes.com time to read: +1 min

Jason Mahr’s eldest son was 13 years old when Mr. Mahr and his wife gave him access to social media, a decision the 44-year-old father of five regretted immediately. It became “like an addiction,” said Mr. Mahr, a student coach and former youth pastor who lives in Woodstock, Ga. His son was quickly swept up in seeking the approval of others online, Mr. Mahr said. He has since been more deliberate about how and when he lets his younger children start using social media, but backpedaling with his eldest has been difficult. Recently, the warnings around teens’ social media use have grown particularly loud, as both the U.S. surgeon general and the American Psychological Association have issued reports about the risk of harm to adolescents’ mental health. “This is what so many parents are struggling with, and it’s too bad we have to.”

Persons: Jason Mahr’s, Mahr, ”, “, ” Jean Twenge, — Organizations: American Psychological Association, Pew Research, Facebook Locations: Woodstock, Ga, U.S

☆ This 15-question test will tell you if you're addicted to your phone: "The problem may be bigger than we think"
▼ + stars: | 2023-06-24 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

Smartphone technology was invented in the early 90s, and the first iPhone launched in 2007, the first Android in 2008. Saying your smartphone usage is an "addiction" can still seem a little dramatic, though. Catherine Price, author of "How to Break Up With Your Phone," writes in her book that the pervasiveness of these behaviors is exactly why they need to be examined. "The fact that these behaviors and feelings are so universal does not mean that they are harmless," Price writes. "Instead, it's an indication that the problem may be bigger than we think."

Persons: Catherine Price, Price Organizations: Pew Research

☆ Opinion | Coming Out Late — and Finding a New Life in Midlife
▼ + stars: | 2023-06-24 | by ( Charles M. Blow | ) www.nytimes.com time to read: +1 min

Born, bred, toasted, buttered, jelly-jammed and honeyed in Harlem.”That’s how Audrey Smaltz, a former model and fashion industry veteran who turned 86 this month, introduced herself to me years ago at a Midtown Manhattan reception. She was the grande dame of the room, floating through it, incandescent, fun and unabashedly flirty. “I had fabulous men in my life,” she told me recently, but in 1999, the Olympic basketball star Gail Marquis, 17 years Smaltz’s junior, asked her out to dinner. Smaltz didn’t think of it as a date and said she had no interest in women at the time. But when Marquis kissed her good night, Smaltz recalled, “it was like kissing a man.” She said, “I couldn’t believe myself,” then laughed, punctuating the thought: “Whoa!”They married in 2011.

Persons: “, ”, Audrey Smaltz, Gail Marquis, Smaltz didn’t, Marquis, Smaltz, Gallup Organizations: Olympic, Pew Research Center Locations: Harlem, Manhattan

☆ A new report on the top 451 podcasts in the US shows the power of true crime. Here were 4 other key takeaways.
▼ + stars: | 2023-06-20 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

Pew Research Center analyzed 451 top-ranked podcasts in the US. When it comes to top-ranked shows, the adoption of video is split down the middle. A new study from Pew Research Center, released on Thursday, found that just over half (51%) of the top-ranked podcasts in the US have a video component. Half of top-ranked podcasts have a video component51% of the podcasts Pew analyzed release a video version, almost always on YouTube — 97% of podcasts with a video component publish it there. Roughly half of top-ranked podcasts seek audience supportAround half of top-ranked podcasts (47%) ask their audiences to support them by offering options like subscriptions, donations, or merch.

Persons: Galen Stocking, Pew, Joe Rogan, Stocking, Emma Chamberlain, Alex Cooper Organizations: Pew Research Center, YouTube, Edison Research, Apple, Spotify Locations: Gimlet

☆ Dr. Sanjay Gupta: It’s time to rethink what we call ‘old age’
▼ + stars: | 2023-06-20 | by ( Dr. Sanjay Gupta | ) edition.cnn.com time to read: +9 min

Editor’s Note: In the new season of “Chasing Life,” CNN Chief Medical Correspondent Dr. Sanjay Gupta explores how to make the most of whatever age you’re at. Tune in to hear Dr. Sanjay Gupta interview his parents, and learn how changing our mindset around aging can influence our health and longevity. Another topic that we explore in the podcast is the idea of a midlife crisis. But Sin also told me that the whole concept of “midlife crisis” has shifted since millennials, in particular, have started hitting middle age. So what does midlife, and the midlife crisis, look like for them?

Persons: Sanjay Gupta, – I’ve, I’m, Archie Bunker, Diana Nyad, Jack LaLanne, ” We’ll, Justine Bateman, Paul Holbrook, spry, Holbrook, haven’t, Nancy Sin, Sin, ”, Dr, Becca Levy, CNN’s Andrea Kane Organizations: CNN, Pew, US Centers for Disease Control, University of British, CNN Health, Yale University Locations: University of British Columbia

☆ Meet the typical Japanese millennial: Victims of the country's 'Lost Decade,' they are trapped in dead-end jobs and are adamant about never having kids
▼ + stars: | 2023-06-20 | by ( Matthew Loh | Huileng Tan | ) www.businessinsider.com time to read: +2 min

At 36, Isechi Makoto finally feels like he can start living life. Like many Japanese millennials, Isechi is content with living life as it is, happy to stay afloat as they watched their nation endure crippling economic crises and natural disasters. In comparison, the US is home to 72 million millennials, while China has around 400 million millennials. Insider spoke to three millennials in Japan, as well as two economists, to better understand the generation. Our findings about their career aspirations, their spending habits, and their financial decision-making speak to the typical millennial in Japan, but not every millennial.

Persons: Isechi Makoto, Isechi, he's Organizations: Pew Research Center Locations: Hokkaido, Kagoshima, Osaka, Japan, China

☆ What is Juneteenth? History of US federal holiday and its celebration explained
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +3 min

Juneteenth, long a regional holiday in the U.S. South, rose in prominence following protests in 2020 over police killings of George Floyd, Breonna Taylor, Rayshard Brooks and other African Americans. Juneteenth, a combination of the words June and 19th, is also known as Emancipation Day. Connecticut, Minnesota, Nevada and Tennessee have made Juneteenth a permanent public holiday for the first time this year, according to the Pew Research Center. In Alabama and West Virginia, Juneteenth has been authorized as a state holiday for this year by a governor’s proclamation. People are also celebrating the holiday by organizing for civil rights, reading books about African American heritage and history, attending festivals and musical performances, and dining at Black-owned restaurants.

Persons: Crystal Howard, Read, Joe Biden, George Floyd, Breonna Taylor, Rayshard Brooks, Abraham Lincoln's, Juneteenth, Aurora Ellis, Lisa Shumaker Organizations: Black Americans, U.S, District, Columbia, Pew Research, The U.S, Supreme, Thomson Locations: Texas, U.S, Nashville , Tennessee, United States, Connecticut, Minnesota, Nevada, Tennessee, Alabama, West Virginia, America, The

☆ What is open on Juneteenth 2023?
▼ + stars: | 2023-06-18 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

Almost 40% of US employers now provide Juneteenth as a paid holiday, a significant increase from just 9% two years ago, according to data from HR consulting firm Mercer. It became a federal holiday in 2021, after President Joe Biden signed the Juneteenth National Independence Day Act. Here is what’s open and closed on Juneteenth 2023. TD Bank, which remained open last Juneteenth, will also be closed on Monday. RetailersMost major retailers and grocery stores will be open on Juneteenth.

Persons: Mercer, Juneteenth, Joe Biden, Gordon Granger, —, Abraham Lincoln, Brandon Bell, Wells, Patrick T, Fallon Organizations: New, New York CNN, Union Army, Communities, United States Post, FedEx, UPS, Federal Reserve, Bank of America, Chase, TD Bank, Getty, Nasdaq, New York Stock Exchange, Juneteenth ., Pew, Walmart, Target Locations: New York, Galveston , Texas, United States, Houston , Texas, Rolling Hills Estates , California, AFP

☆ Gen Z is good business: Alex Cooper's new media company shows the allure of targeting young consumers
▼ + stars: | 2023-06-17 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Gen Z has some $360 billion in global spending power — something brands want to tap into. That's a large chunk of Gen Zers and Zillennials, the subgeneration between millennials and Gen Z. "Signaling to the Gen X crowd, 'Hey, we're a Gen Z media company. You're a company that doesn't know Gen Z and you want to sell to Gen Z. "It's really to attract the corporate partners, the advertisers, and to say 'We're the gateway to the Gen Z audience.'"

Persons: Alex Cooper, Cooper, Matt Kaplan, Z, —, fiancé Matt Kaplan, Kaplan, Gen Z — Cooper, Gen, That's, Jared Watson, University's, Zers, Kitty, Watson, hadn't, we're Organizations: Spotify, Service, Entertainment, Pew Research, University's Stern School of Business, Variety, Media, Gen, Companies Locations: New, millennials, Pennsylvania

☆ Forget retirement. These Baby Boomers are amassing huge social media followings
▼ + stars: | 2023-06-16 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +4 min

And that was the turning point in social media for me,” Polise said. And Chobani worked with 74-year-old Lynn Davis, whose cooking videos have attracted 15.7 million TikTok followers, for an ad promoting the brand. Most Americans on social media are between the ages of 18 and 29. But the number of people 65-plus on social media grows each year: In 2014, 21% of those in that age group were on social media, a figure that more than doubled to 45% by 2021, according to Pew Research. She says her over-the-top eclectic style catches the eye of her younger followers, inspiring them to take risks and express themselves.

Persons: Helen Polise isn’t, ”, I’ll, ” Polise, She’s, Polise, I’m, Goldman Sachs, Chobani, Lynn Davis, influencer Debra Rapaport, “ I’m, I’ve, “, messaged Organizations: New, New York CNN —, Brands, Hyundai, Pew Research Locations: New York, Palm Springs

☆ True crime dominates among top-ranked podcasts. Here are 4 other takeaways from new Pew research, from video's rise to the state of exclusivity.
▼ + stars: | 2023-06-15 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

Persons: Galen Stocking, Pew, Joe Rogan, Stocking, Emma Chamberlain, Alex Cooper Organizations: Pew Research Center, YouTube, Edison Research, Apple, Spotify Locations: Gimlet

☆ Senate Democrats pressure PayPal, Venmo, Cash App over fraud protections
▼ + stars: | 2023-06-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Senate Democrats on Thursday urged PayPal and Cash App to better protect users of their peer-to-peer payment applications from fraud. The letters were sent to PayPal president and CEO Dan Shulman and Cash App CEO Brian Grassadonia. PayPal, Venmo and Cash App did not immediately respond to a request for comment from CNBC. Cash App transactions also brought in over $203 billion in inflows among 51 million monthly users as of December 2022, according to a Block annual report. The letter is part of an ongoing inquiry into P2P platform consumer safety spearheaded by Warren over the past several years.

Persons: Sen, Sherrod Brown of, Massachusetts Sen, Elizabeth Warren, Rhode Island Sen, Jack Reed, Jack Reed and New Jersey Sen, Bob Menendez, Dan Shulman, Cash, Brian Grassadonia, PayPal's, Warren, Menendez, Reed Organizations: PayPal, Massachusetts, Block, CNBC, Pew Research Center Locations: WASHINGTON, Sherrod Brown of Ohio, Rhode Island, Jack Reed and New Jersey

☆ Daddy, Are You an Influencer?
▼ + stars: | 2023-06-13 | by ( Charlotte Cowles | ) www.nytimes.com time to read: +2 min

“With Instagram, a lot of men were uncomfortable with putting up these edited, staged pictures and captions,” said James Nord, a founder of Fohr, an influencer marketing firm in New York City. And all of a sudden, here’s someone people trust and relate to, talking about new pants that they love. Dads also said they spent about 10 hours a week on household chores in 2016, an increase from four hours in 1965. (Alas, while dads are doing more, a major gender gap persists: Mothers spent about 14 hours a week on child care and 18 hours a week on housework in 2016.) “I think a big reason that what I was doing resonated was that I was honest and genuine about what I was experiencing.”

Persons: dadfluencers, ”, James Nord, TikTok, influencers, Dad influencers, Nord, “, Thomas Piccirilli Organizations: Pew Research Locations: New York City, United States, Monmouthshire, England

☆ Twitter CEO Linda Yaccarino echoes Musk in emphasizing freedom of speech in debut tweet thread
▼ + stars: | 2023-06-12 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

In her first tweet thread since becoming CEO of Twitter last week, Linda Yaccarino on Monday emphasized the company's focus on free speech, a topic favored by owner Elon Musk. "Twitter is on a mission to become the world's most accurate real-time information source and a global town square for communication," Yaccarino wrote on Twitter and in a memo to employees. Prior to Twitter, Yaccarino was global advertising chief at NBCUniversal, CNBC's parent company. "We have the opportunity to reach across aisles, create new partnerships, celebrate new voices, and build something together that can change the world," Yaccarino wrote. Twitter is on a mission to become the world's most accurate real-time information source and a global town square for communication.

Persons: Linda Yaccarino, Elon Musk, Yaccarino, Musk, we're, Elon, that's, Linda, Ron DeSantis Organizations: Twitter, Pew Research Center Locations: NBCUniversal

☆ The Risks of Storing Money in Apps Like Venmo and Cash App
▼ + stars: | 2023-06-09 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Millions of Americans use mobile payment apps to pay friends, family and retailers, but they may not know that money held in the apps often lacks federal insurance protection. As more people go cashless, apps like Venmo, Cash App and Apple Cash have gained popularity as an easy way to split a dinner tab, buy stuff at yard sales or pay bills. Use of the apps increased during the pandemic, experts say, as people shifted to online shopping and contactless payment methods. Transaction volume on such apps was an estimated $893 billion last year, the bureau said, and is projected to reach $1.6 trillion by 2027. More than three-quarters of the nation’s adults say they have used one of four popular payment apps, according to the Pew Research Center.

Persons: Apple Cash Organizations: Consumer Financial, Apple, Pew Research Center

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