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Previous Newsletters
Ocrolus Raises $80Mn; Chopra Nears Confirmation; MoneyLion Begins Trading
by Cole Gottlieb | Sep 26, 2021
Greetings, The Fed could begin tapering asset purchases as early as November. Financial regulator appointments move closer to confirmation. Ocrolus raises $80Mn for automated document verification, while Self Financial raises $50Mn for credit building products....
Goldman Buys GreenSky; Chase & Capital One Consider BNPL; Inflation Cools
by Cole Gottlieb | Sep 19, 2021
Greetings, Unemployment numbers remain steady and inflation ticks down. Median household income dropped in 2020, excluding some stimulus measures. Pagaya will go public via a SPAC. Goldman buys POS lender GreenSky. Chase and Capital One consider BNPL offerings. Square...
PayPal Acquires Japanese BNPL; Amazon POS for SMB; Revolut Plans BNPL
by Cole Gottlieb | Sep 12, 2021
Greetings, Initial unemployment claims hit a new low, despite more than 10.9Mn jobs remaining open. Several pandemic-related unemployment programs ended last week. Consumer spending decelerates amid Delta. Opinions on a second term for Fed Chair Powell vary. CFPB...
SMB Lending Data Collection; Affirm and Amazon Partner; Banks Loosen Underwriting
by Cole Gottlieb | Sep 5, 2021
Greetings, New unemployment claims continue to drop though employers are still struggling to hire. The CFPB proposes a data collection rule for small business loans. Gary Gensler says banning payment for order flow is an option. API stock platform Alpaca raises $50Mn....
Klarna Credit Losses Soar; DriveWealth Raises $450Mn; CBDC ‘long way’ Off
by Cole Gottlieb | Aug 29, 2021
Greetings, GDP and employment continue to grow, despite Delta fears. Fed is ‘long way’ from a digital dollar. Ramp raises $300Mn, while Brex launches a venture debt product. DriveWealth raises $450Mn to power “Robinhood competitors.” Fiserv announces partnerships....
Upstart’s $575Mn Note Offering; Wells Fargo Keeps LOC; Consumer Confidence Slips
by Cole Gottlieb | Aug 22, 2021
Greetings, Initial unemployment claims dropped for the fourth straight week. Fed officials could begin trimming easy money policies by fall. Retail sales and consumer confidence slide in July. A bipartisan Senate bill would modernize SBA lending. Plaid extends Series...
Upgrade Raises; Inflation May be Easing; SoFi & Upstart Earnings
by Cole Gottlieb | Aug 16, 2021
Greetings, Inflation remained elevated in July, but there are signs price increases are slowing. Unemployment continues to drop and job openings exceed 10Mn. Banks plan for excess deposits to stick around. Upgrade raises $105Mn. BNPL grow through differentiation,...
Q2 2021 | Lending Earnings Summary
by Cole Gottlieb | Aug 15, 2021
What a quarter for consumer lending! Consumers' balance sheets are stronger than ever, spending is back, non-bank lenders’ volumes jumped close to pre-pandemic levels, and securitization deals are oversubscribed. In case you missed our earnings coverage in our...
Credit Demand Returning; Acting Comptroller Hsu Testifies; Figure Merger
by Cole Gottlieb | Aug 8, 2021
Greetings, Unemployment claims continue to drop, slowly, as Fed officials debate when to taper support for the economy. Demand for credit is returning. Acting Comptroller Michael Hsu testifies on OCC’s priorities. Student loan payment break extended. LendingPoint...
Zilch Raises $110MM; GDP Growth Dims; Small Banks’ Overdraft Fight
by Cole Gottlieb | Aug 1, 2021
Greetings, Delta fears shrink GDP forecast, but employment picture is steady. The Fed stays the course on rates and asset purchases. BNPL maintains momentum. Embedded fintech Sila and homeownership startup Landis raise. Citizens buys Investors Bancorp. Small banks may...