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Previous Newsletters
CFPB Warns on AI; Chase & Gusto Partner; Goldman Nears GreenSky Sale
by Cole Gottlieb | Sep 24, 2023
Happy Sunday, The FOMC held rates steady. U.S. retail sales and PPI rise. Americans plan to spend less. CFPB warns on using AI for credit decisions. ZayZoon raises $34.5Mn for EWA. JPMorgan Chase partners with payroll provider Gusto. Plaid and Cross River team up on...
Firstcard Raises $4.7Mn; Brokered Deposit Use Surges; Divvy Lays Off 94 More
by Cole Gottlieb | Sep 17, 2023
Happy Sunday, CPI for August came in higher than expected. Officials remain optimistic about a soft landing. Treasury4 announces $20Mn Series A. Firstcard raises $4.7Mn seed. SoFi offers users Instacart IPO access. Brokered deposit use surges. Divvy lays off 94 more....
Splitit May Delist; Momnt Raises $15Mn; BNPL Survey Data
by Cole Gottlieb | Sep 10, 2023
Happy Sunday, A rate hike later this month is unlikely, but there could be one more by year’s end. Economic data remains strong. ThetaRay raises $57Mn. Momnt announces $15Mn fundraise. Splitit may de-list from Australian Stock Exchange. Upgrade to begin offering auto...
Fed Steps Up Regionals Oversight; Grayscale’s ETF Win; Goldman Nears GreenSky Sale
by Cole Gottlieb | Sep 3, 2023
Happy Labor Day weekend! The U.S. job market seems to be cooling. Consumer confidence drops. The Fed steps up regional bank oversight. Regulators proposed new rules for mid-sized banks. Farmington puts “charter stripping” in the spotlight. Grayscale gets court win in...
Q2 2023 Review | Consumer Lending
by Cole Gottlieb | Aug 30, 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: credit tightening measures’ effect on originations and MPL new issue volume remains subdued. New here? Subscribe...
Ramp’s $300Mn Downround; CFPB Sues Division of CURO; Consumer Credit Growth Slows
by Cole Gottlieb | Aug 27, 2023
Happy Sunday, Fed officials’ expectations for future interest rates diverge. Mortgage purchase apps hit lowest level since ‘95. Cars are increasingly unaffordable. CFPB sues division of CURO on loan “churning.” Ramp raises $300Mn. Coinbase acquires minority stake in...
Bluevine’s IPO Hopes; New PayPal CEO; Plaid Teams Up with Pinwheel & Atomic
by Cole Gottlieb | Aug 20, 2023
Happy Sunday, Fed officials remain concerned about inflation. Maryland issues earned wage access guidance. OneBlinc lands debt facility. Better.com crosses SPAC finish line. Bluevine hopes for IPO. PayPal names new CEO. Discover chief abruptly resigns. Fitch warns on...
July Inflation; Fed to Supervise “Novel Activities”; Revolut to Suspend U.S. Crypto
by Cole Gottlieb | Aug 13, 2023
Happy Sunday, July’s CPI print came in lower than expected. Slower hiring and rising oil prices are making the Fed’s life hard. “Novel activities” to get own supervision program. Figure withdraws bank charter app. Banks penalized for employees’ messenger use. Revolut...
U.S. Credit Downgrade; SEC Data Breach Rule; Mastercard Block Pot Payments
by Cole Gottlieb | Aug 6, 2023
Happy Sunday, Fitch downgrades U.S. credit. Job openings fall, as do layoffs. SEC finalizes data breach reporting rule. Croissant exits stealth with $24Mn in funding. Mercury Financial inks $200Mn debt deal. Mastercard moves to block pot payments. Bread reports...
FDIC Warns on Deposit Accounting; FedNow Is Live; Banc of California-PacWest Deal
by Cole Gottlieb | Jul 30, 2023
Happy Sunday, The Fed resumes rate hikes, but differences among policymakers emerge. Home prices climb. Senate seeks to rein in SBA’s 7(a) expansion. FDIC warns on banks undercounting uninsured deposits. Bunq raises €44.5Mn in additional funding. FedNow is live, now...