Illustration: Aïda Amer/Axios

Intuit is nearing a $7 billion deal to buy Credit Karma, a San Francisco-based provider of consumer credit-score checks and monitoring services, as first reported by the Wall Street Journal.

Why it matters: The combined company would hold a staggering amount of personal financial information. For consumers, that means much better recommendations and much bigger privacy concerns.

  • Credit Karma raised around $370 million in VC funding from firms like Ribbit Capital, Felicis Ventures, CapitalG, QED Investors, and Susquehanna Growth Equity. Silver Lake purchased a 12.5% stake from insiders in early 2018 at an estimated $4 billion valuation.

The bottom line: "Intuit could try to match all the tax data its TurboTax customers provide with the credit-scoring data that Credit Karma holds. That could let Intuit serve up better customer prospects to credit card issuers — and eventually let Intuit charge lenders more for access to its hoard of data, writes the New York Times.

Go deeper: What Intuit knows about you

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1:30 a.m. ET: 32,995,554 — Total deaths: 996,695 — Total recoveries: 22,850,774Map.
  2. U.S.: Total confirmed cases as of 1:30 a.m. ET: 7,115,008 — Total deaths: 204,756 — Total recoveries: 2,766,280 — Total tests: 101,298,794Map.
  3. States: 3 states set single-day coronavirus case records last week
  4. Health: The long-term pain of the mental health pandemic
  5. World: India second country after U.S. to surpass 6 million cases

Democrats demand Trump release his tax returns after NYT report

Compilation images of House Nancy Pelosi and President Trump. Photo: Joshua Roberts/Getty Images/Chip Somodevilla/Getty Images

Democrats called on President Trump to disclose his tax returns following a New York Times report alleging he paid $750 in federal income taxes in 2016 and 2017 and nothing in 10 of the past 15 years.

Details: Trump said the report was "total fake news," that he's unable to release the returns as they're "under audit" by the IRS, "which does not treat me well." House Speaker Nancy Pelosi (D-Calif.) said in a statement the report "provides further evidence of the clear need" for a House lawsuit to access the tax returns and "ensure the presidential audit program is functioning effectively, without improper influence."

Updated 4 hours ago - Politics & Policy

Former Trump campaign manager Brad Parscale hospitalized

Brad Parscale, the former campaign manager for President Trump's re-election campaign, at Drake University in January in Des Moines, Iowa. Photo: Tom Brenner/Getty Images

Fort Lauderdale police arrived at former Trump campaign manager Brad Parscale's home on Sunday after his wife called and said he was threatening to harm himself, Florida officials confirmed to Axios.

Details: Fort Lauderdale Police Sgt. DeAnna Greenlaw told Axios officers responded to a report of "an armed male attempting suicide" just before 4 p.m. local time.