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Previous Newsletters
CFPB Proposes Overdraft Rule; Kashable Raises $25.6Mn; Fiserv Wants Bank Charter
by Cole Gottlieb | Jan 21, 2024
Happy Sunday, The Fed’s Beige Book showed relatively benign economic conditions, all things considered. The CFPB dropped a new proposed rule on overdrafts. Kashable raised a $25.6Mn Series B round. Pier raised a $2.4Mn seed round. Circle filed confidentially to IPO....
NY Gov. Proposes BNPL Law; Arc Launches Debt Marketplace; FloatMe’s FTC Trouble
by Cole Gottlieb | Jan 14, 2024
Happy Sunday, Price hikes continue to slow. The Fed could start cutting rates by March. Bitcoin ETF gets SEC nod (really). New York Gov. proposes BNPL law. FloatMe in trouble with the FTC. Montana AG says EWA isn’t a loan. Revolut faces potential class action. Arc...
Regions’ Check Fraud Problem; HSBC Launches Zing; Google Wallet ID Ambitions
by Cole Gottlieb | Jan 7, 2024
Happy New Year, Welcome to 2024 – hopefully you enjoyed some time off over the holidays (we did!) and are ready for the new year. FOMC meeting minutes suggest rate hikes are done. Job listings continue to normalize. Bank trade groups push CFPB to take stronger stance...
Auto Borrowers Underwater; U.S. Bank Consent Order; CRE Troubles
by Cole Gottlieb | Dec 24, 2023
Happy Holidays! More auto borrowers are underwater. Forty percent of federal student loan borrowers still not making payments. U.S. Bank consent order. Student banking and overdraft reports. Consumers using BNPL to avoid hit to credit reports. Commercial real estate...
SumUp Scores €285Mn; Apex Files For IPO; Amazon and Venmo Call It Quits
by Cole Gottlieb | Dec 17, 2023
Happy Sunday, The Fed held rates steady. Inflation cools slightly. Canopy raises $15.2Mn. Canapi Ventures scores $750Mn for new fintech-focused fund. SumUp announces €285Mn haul. Apex clearing looks to IPO in 2024. Amazon and Venmo call it quits. Stretched holiday...
Q3 2023 Review | Consumer Lending
by Cole Gottlieb | Dec 12, 2023
Hi all, Cole here! We come to you today with our quarterly consumer lending review. Catch up on the latest trends emerging in the consumer lending space: personal loan vs. auto/bankcard loan trends, takeaways from individual company earnings, and an increase in MPL...
OCC’s BNPL Guidance; House Nullifies SMB Data Rule; January Raises $12Mn
by Cole Gottlieb | Dec 10, 2023
Happy Sunday, Hiring has slowed and job openings declined, in a welcome sign for Fed policy makers. The OCC released an advisory bulletin for banks offering BNPL. The House voted to nullify the CFPB’s small business data collection rule. Collections startup January...
Apple & Goldman’s Breakup; First Fed’s Consent Order; Black Friday/Cyber Monday
by Cole Gottlieb | Dec 3, 2023
Happy Sunday, Consumers shelled out for gifts over Black Friday/Cyber Monday (and used BNPL to do it). Conventional wisdom increasingly says the rate hike cycle may be over. Consumer confidence stabilized. First Fed Bank’s FDIC consent order. Mozaic raises $20Mn for...
Toyota’s $60Mn Settlement; Binance’s $4.3Bn AML Agreement; Arch Raises $20Mn
by Cole Gottlieb | Nov 26, 2023
Happy Sunday and Happy Thanksgiving weekend, Initial unemployment applications dropped. Consumer inflation expectations rise. Toyota reaches $60Mn CFPB settlement. Arch raises $20Mn Series A. Monzo in talks with Alphabet for fresh funding. Binance reaches $4.3Bn AML...
U.S. Credit Downgraded; FDIC’s Toxic Workplace; Imprint Raises $75Mn
by Cole Gottlieb | Nov 19, 2023
Happy Sunday, U.S. downgraded by Moody’s. Consumer spending in October fell. FDIC’s toxic workplace culture. Enova hit with new CFPB order. Zelle now refunding some defrauded users. Blockchain startup Fnality raises $95Mn. Cobrand card platform Imprint raises $75Mn....