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Previous Newsletters
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...
Market Jitters; Robinhood “Democratizes” the IPO; Durbin Wants 36% Cap
by Cole Gottlieb | Jul 25, 2021
Greetings, While there were some market jitters early in the week, the macroeconomic picture remains promising. Key banking regulators begin an overhaul of the Community Reinvestment Act. Crypto continues to draw scrutiny. Senators want to cap loans at 36% APR....
Revolut Raises $800Mn; Child Tax Credit Begins; Exec Order on Competition
by Cole Gottlieb | Jul 18, 2021
Greetings, The economic recovery continues, with unemployment claims improving but the inflation outlook unclear. Child tax credit checks begin rolling out. Biden’s executive order may put the brakes on bank M&A activity. Revolut raises a war chest, while Apple...
Paypal Launches Zettle; Lending Software is Hot; Taper without the ‘Tantrum’
by Cole Gottlieb | Jul 11, 2021
Greetings, Employers are still having a hard time recruiting workers and unemployment claims unexpectedly rose. But American consumers are feeling confident enough to borrow and spend. Central banks are considering how and when to begin slowing asset purchases. Wise...
Recovery Accelerates; Lenders Seek Guidance on AI; Robinhood to the Moon?
by Tito Donis | Jul 4, 2021
Greetings, Happy 4th of July! The US employment picture continues to improve as consumers, flush with cash, spend spend spend. Fintech lenders are looking for guidance on using AI credit models, and Upgrade is looking to raise some cash. Robinhood...
Cross River Acquires PeerIQ; BNPLs Diversify; Workers Say “I Quit”
by Tito Donis | Jun 27, 2021
Greetings, This was a big week for PeerIQ, as we announced we joined the Cross River family. In regular programming, employees are feeling confident enough to quit, markets react to the Fed’s shifting signals, Morgan Stanley makes its first blockchain investment, BNPL...
Klarna’s Huge Raise; Commodity Prices Ease; Rate Hikes in 2022?
by Tito Donis | Jun 21, 2021
Greetings, This week, the employment picture is looking promising and there are signs inflation may be moderating. Fed consensus is shifting towards interest rate hikes as soon as next year. 2021 is a record year for IPOs, and it’s only half over. BNPL and EWA remain...