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Previous Newsletters
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....
Revolving Debt Hits Record; FTC vs. Brigit; Klarna Looks to IPO
by Cole Gottlieb | Nov 12, 2023
Happy Sunday, We haven’t beat inflation (yet), and a soft landing is still possible. Revolving debt hits a record as delinquencies increase. FTC takes action against Brigit. CFPB seeks to supervise digital wallets. Goldman looks to dump GM card. Klarna returns to...
Fed Holds Rates Steady; Charlie Raises $16Mn; Monzo in Funding Talks
by Cole Gottlieb | Nov 5, 2023
Happy Sunday, Fed holds rates steady. Job market exceeds expectations. Most Americans get 3% or less on savings. Borrowers struggle to keep up with card payments. Charlie raises $16Mn Series A. Monzo in talks for fresh funding as it eyes IPO. BNPL Zilch scores eBay...
Treasury Yields Break 5%; CRA Rule Updates Released; Marqeta Launches Credit Card Platform
by Cole Gottlieb | Oct 29, 2023
Happy Sunday, Economic growth remains higher than expected. Auto borrower delinquencies rise. Treasury yields exceed 5%. TransUnion credit data. Metropolitan hit with $30Mn in penalties for compliance failures. Regulators release finalized CRA rule updates. Prism...
Fed May Cut Debit Interchange; Stash Eyes IPO; Goldman sells GreenSky
by Cole Gottlieb | Oct 22, 2023
Happy Sunday, Despite higher rates and reduced demand, home prices stay high on tight supply. American consumers are still spending liberally. Fed may move to cut some debit swipe fees. Stash raises $40Mn. Nova Credit raises $45Mn. Goldman finally sells GreenSky. Blue...
CFPB War on Junk Fees; Credit Union Delinquencies Rise; Braid Calls It Quits
by Cole Gottlieb | Oct 15, 2023
Happy Sunday, Rising Treasury yields may mean Fed doesn’t need to raise rates. FDIC proposes governance guidelines for banks over $10Bn. CFPB warns of payment market consolidation and continues war on “junk fees.” Credit unions see delinquencies, charge-offs rise....
Slowing Payroll Growth; CFPB Oral Arguments; Discover’s FDIC Consent Order
by Cole Gottlieb | Oct 8, 2023
Happy Sunday, U.S. payroll growth slows. Bond selloff drives up borrowing costs. Oral arguments on CFPB’s future. Supreme Court agrees to hear interchange case. Good news, bad news for Revolut. Discover agrees to FDIC consent order. Experian launches neobank....
Higher for Longer; Surge in Use of Brokered Deposits; Curve Extends Series C
by Cole Gottlieb | Oct 1, 2023
Happy Sunday, Kashkari expects one more hike. Higher rates starting to bite for borrowers. Consumer confidence hits four-month low. Despite hopes of a soft landing, creditors need to keep an eye on rising losses. System-wide deposits drop year over year. Brokered...