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Previous Newsletters
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...
Wages Outpace Inflation; Block Sues Visa/MC; Karat Scores $70Mn in Funding
by Cole Gottlieb | Jul 23, 2023
Happy Sunday, Wage gains outpace inflation. Retail sales up (slightly). TransUnion credit data. Block sues Visa and Mastercard. New capital rules and rising rates impact bank lending. Private markets startup Anduin raises $15.6Mn. Construction worker EWA startup...
Inflation at 3%; Consumer Debt Growth Slows; More Neobank Consolidation?
by Cole Gottlieb | Jul 16, 2023
Happy Sunday, Inflation came in unexpectedly low, at 3%. Growth in consumer debt slows. Bank of America enforcement action. Capital One exits consent order. Clair and Jirav announce fundraises. “Durbin 2.0” could have unintended consequences. Banks collaborate on...
Goldman Looks to Exit Apple Deal; Student Debt Relief “Plan B”; Unit21 Series C
by Cole Gottlieb | Jul 9, 2023
Happy Sunday, With resilient economic activity (and inflation), the Fed expects two further hikes this year. The Supreme Court blocks Biden’s student debt plan but Biden admin has a “plan B.” Regulators weigh capital requirements. Unit21 announces Series C. Goldman...
Home Prices Fall; Base III Endgame; Ramp Buys an AI Startup
by Cole Gottlieb | Jul 2, 2023
Happy Sunday, Fed officials reiterate more rate hikes are likely. Consumer confidence rises. Home prices fall. Tougher capital rules on the way. Bowman says reforms should focus on supervision and liquidity. TreasurySpring raises $29Mn. Credit union auto lending...
More Rate Hikes Coming; CFPB Wants to Supervise Big Tech; PayPal Sells BNPL Portfolio
by Cole Gottlieb | Jun 25, 2023
Happy Sunday, Fed Chair Powell warns more hikes are coming. Bank economists remain downbeat on credit conditions. FDIC issues more cease and desist orders over deposit insurance claims. CFPB seeks to supervise big tech. Fintechs still raising funds. Crypto grab bag....
Fed Presses Pause; Pagaya’s 7th ABS Deal; Cross River & Momnt Team Up
by Cole Gottlieb | Jun 18, 2023
Happy Sunday, Inflation cools. Fed pauses on rate hikes. Renters get a break. CFPB pushes ahead with open banking rules. FIS acquires BaaS platform Bond. Lower credit card late fees are no free lunch. PayPal SMB lending fills bank branch gap. Pagaya announces seventh...
SEC Bears Down on Coinbase, Binance; Banks’ CRE Exposure; A Neobank for Retirees
by Cole Gottlieb | Jun 11, 2023
Happy Sunday, Wage growth slows. Worries continue over banks’ commercial real estate exposure. Minnesota passes payday loan cap. SEC bears down on Coinbase, Binance. Big banks could see capital requirements jump 20%. Lawmakers try again to rein in credit card...
Debt Ceiling Deal; OneMain Settlements; JPMC Bets Big On AI
by Cole Gottlieb | Jun 4, 2023
Happy Sunday, Congress is poised to reach a debt ceiling deal. Borrowers may (finally) resume paying their student loans. OneMain hit with NYDFS, CFPB cases. Comerica under fire for handling of Direct Express program. Overdraft revenue down 50% from 2019. Rent...
Q1 2023 Review | Consumer Lending
by Cole Gottlieb | Jun 1, 2023
Hi all, Cole here! We come to you today with our quarterly consumer lending wrap up. Catch up on the latest trends emerging in the consumer lending space: we see credit tightening slowing origination volume, but helping delinquencies, and MPL’s new issue volumes...