Financial History
Which president signed the Social Security Act into law in 1935?
Who is Franklin D. Roosevelt?
What type of loan consolidates multiple debts into a single monthly payment, often at a lower interest rate?
What is a debt consolidation loan?
Why did Amy’s Kitchen decide not to continue their contract with Brightside?
What is due to large internal management changes and a need to cut costs related to employee benefits?
What is the "step-up in basis" rule, and how does it affect the taxation of inherited assets?
hat is a rule that adjusts the cost basis of inherited assets to their value at the time of the decedent's death, reducing the capital gains tax owed by heirs when they sell the asset?
How does the credit-building platform Self help individuals improve their credit score?
What is by offering a credit-builder loan and or Free rent Reporting that reports positive monthly payments to all three credit bureaus?
What was the name of the stock market crash that led to the Great Depression in 1929?
What is Black Tuesday?
What is the minimum credit score required for an FHA loan with a 3.5% down payment?
What is a credit score of 580?
How many employees will Brightside serve after Providence expands its partnership?
What is over 100,000 employees (up from 25,000)?
What is the "efficient frontier" in Modern Portfolio Theory, and how does it influence asset allocation decisions?
What is a curve representing the best possible return for a given level of risk, helping investors optimize their asset allocation to achieve the highest return for their risk tolerance?
What is the minimum amount of unsecured debt required to apply for services through Consolidated Credit?
What is $6,000?
What is the largest bankruptcy filing in U.S. history, which occurred in 2008 during the financial crisis?
What is Lehman Brothers?
What is the standard minimum credit score required to qualify for a conventional mortgage?
What is 620?
Why did Brightside decide to end its partnership with Air Products?
What is due to the unique dynamics of working alongside an employer’s credit union, limiting Brightside’s ability to provide the best financial options for clients?
What is the highest capital gains tax rate in the U.S., and under what conditions would a taxpayer be subject to it?
What is 20%, for single filers earning more than $492,300 and married couples filing jointly earning more than $553,850 in 2024?
What is a charge-off, and how does it affect your credit report?
What is a charge-off occurs when a creditor deems a debt unlikely to be collected, and it remains on your credit report for seven years?
What year did the U.S. officially abandon the gold standard, where the dollar was backed by gold reserves?
What is 1971?
If a borrower has a credit score of 500, what is the minimum down payment percentage they need to qualify for an FHA loan?
What is 10% or more?
What key metric will determine whether Meijer moves forward with Brightside’s services?
What is the NPS Score (90+ moves forward, 60-90 moves forward with caution)?
What is the "4% rule," and what recent concerns have arisen regarding its effectiveness in today’s economic climate?
What is a rule of thumb for retirement withdrawals where retirees can withdraw 4% of their portfolio annually, adjusted for inflation, to not outlive their savings? Recent concerns include lower interest rates and longer life expectancies.
How often can consumers receive a free Equifax credit report, and what law allows this?
What is once per year under the Fair Credit Reporting Act (FCRA)?
What international agreement was created to regulate global currencies and trade post-World War II?
What is the Bretton Woods Agreement?
Under what conditions can a borrower request to cancel Private Mortgage Insurance (PMI), and how does loan-to-value (LTV) ratio play a role?
What is when the LTV ratio reaches 80% or less, borrowers can request PMI cancellation?
How many Renovo employees will Brightside serve starting in 2024?
What is around 2,000 employees?
According to IRC Section 1211(b), how much in capital losses can be deducted against ordinary income per year?
What is $3,000?
What are the five factors that determine your FICO score, and which factor carries the most weight?
What are payment history (35%), amounts owed (30%), length of credit history (15%), credit mix (10%), and new credit (10%)?