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Previous Newsletters
Fed Acknowledges Recession Risk; Cleo Raises $80Mn; BlockFi Gets Credit Line
by Cole Gottlieb | Jun 26, 2022
Greetings, Fed Chair Powell testifies. Home prices hit a record. Gas tax holiday on the table. FDIC proposes raising insurance assessments. Cleo raises $80Mn. Auto loan delinquencies on the rise. Circle keeps hiring. Klarna valuation could fall by two-thirds. BlockFi...
Fed Rate Hike; Celsius Freezes Withdrawals; Chase Leverages Data
by Cole Gottlieb | Jun 19, 2022
Greetings, The Fed raises rates by 0.75%. Officials acknowledge unemployment may rise. Abra partners with Amex on crypto card. Crypto lender Celsius freezes withdrawals. Coinbase and BlockFi do layoffs. Chase leverages data advantage. TD gives customers more repayment...
Apple Pay Later; Affirm’s Financing Costs Rise; Bipartisan Crypto Bill
by Cole Gottlieb | Jun 12, 2022
Greetings, Inflation is expected to moderate but remain elevated. Q2 GDP estimates weaken. Consumer credit surges. A bipartisan crypto bill gains steam. Custodia sues over Fed account access. Proper raises $4.3Mn. Apple enters the BNPL wars. Checkout.com to facilitate...
Auto Lender Liability Increases; Tandym Raises $60Mn; Circle Discourages Fed CBDC
by Cole Gottlieb | Jun 3, 2022
Greetings, Demand for workers remains high. Home prices lodge record gains. Turmoil in mortgage-backed bond market. Circle asks the Fed not to launch a CBDC. California ruling opens auto lenders to more liability. Viola Credit raises $700Mn fund. Tandym raises $60Mn...
CFPB’s “Competition” Office; Klarna Hits Turbulence; FTX Shops for a Brokerage
by Cole Gottlieb | May 29, 2022
Greetings, The Fed is committed to taming inflation. But rate hikes alone may not be enough to slow housing prices in the face of strong fundamentals. The CFPB is re-focusing on “competition” as a key vector to drive innovation. But the agency faces an existential...
Q1 2022 Review | Consumer Lending
by Cole Gottlieb | May 24, 2022
The Fed’s anti-inflationary measures and Russian invasion of Ukraine have thrown credit markets into a new direction, with rates rising at the fastest pace in decades. As we navigate a volatile market, catch up on the latest trends we see emerging in the consumer...
Plaid’s New Features; CA Asks FDIC to End “Rent-a-Bank”; Unit Raises $100Mn
by Cole Gottlieb | May 22, 2022
Greetings, Fed Chair Powell commits to fighting inflation. California lawmakers ask FDIC to shutdown “rent-a-bank” schemes. Congress reacts to stablecoin collapse. Fed rate hikes change banks’ deposit calculus. BaaS startup Unit raises $100Mn. BNPL in brief. Robinhood...
Stablecoin Collapse; Deserve Raises $250Mn in Debt; Visa Ready Adds BNPL
by Cole Gottlieb | May 15, 2022
Greetings, U.S. inflation came in down slightly at 8.3%. Brazil moves towards creating a crypto framework as Argentina institutes a ban. TerraUSD, a stablecoin, collapses. Regulators push for federal stablecoin framework before end of year. Deserve raises $250Mn debt...
Fed Rate Hike; Progress on Real-Time Payments; Truist Acquires Long Game
by Cole Gottlieb | May 8, 2022
Greetings, The Fed hiked by 0.50%, but says larger hikes are off the table for now. Bankers push back on “junk fees.” Progress on real-time payment networks. Point raises $115Mn for its home equity platform. Affirm integrates with Fiserv. Klarna to begin reporting to...
CFPB Invokes ‘Dormant’ Authority; Cross River and Sardine Partner; Copper Raises $29Mn
by Cole Gottlieb | May 1, 2022
Greetings, Natural gas jumps on Russia cut offs. Fight for Fed accounts moving slowly. CFPB invokes “dormant” authority. Is it time for regional Fed bank reforms? Teen banking app Copper raises $29Mn. PayPal and Venmo hike...