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States are leading the charge on crypto bank charters. Embed raises $60Mn. Credit unions struggle with excess deposits. Synchrony partners with Fiserv on BNPL. CEO of brokerage fintech M1 buys a bank. FP&A automation startup Trovata raises $20Mn. Goldman and Amex team up on cash management. …
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Unemployment drops and record numbers quit their jobs. Energy costs are driving inflation concerns. Fintech infrastructure companies raise cash. Crypto lender Celsius valued at $3Bn, despite regulatory concerns. Oportun pulls its charter. NerdWallet readies IPO. Credit card issuers take BNPL threat seriously. Big banks begin reporting Q3 earnings.
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Employment picture mixed as inflation concerns continue. Teen banking startup Copper raises $9Mn. U.S. Bank to offer crypto custody services. Trustly partners with Cross River to power Instant Payouts. Banks push back on Apple Pay fees. Google axes plans for banking product Plex. Upgrade to add BNPL features. …
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The economy taps the brakes, but not for long. The Fed has acknowledged progress on jobs, but says it’s not time to raise rates (yet). OCC nominee faces a tough road to confirmation. KYC-as-a-Service startup Alloy raises $100Mn, while robo-advisor Betterment raises $160Mn. Consumers are using BNPL for bigger…
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The Fed could begin tapering asset purchases as early as November. Financial regulator appointments move closer to confirmation. Ocrolus raises $80Mn for automated document verification, while Self Financial raises $50Mn for credit building products. MoneyLion begins trading. Robinhood, Revolut, and PayPal have new features and products. Consumers falling behind…
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Unemployment numbers remain steady and inflation ticks down. Median household income dropped in 2020, excluding some stimulus measures. Pagaya will go public via a SPAC. Goldman buys POS lender GreenSky. Chase and Capital One consider BNPL offerings. Square deepens merchant-consumer integration. QED raises $1.05Bn for fintech investments. Oportun gets…
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Initial unemployment claims hit a new low, despite more than 10.9Mn jobs remaining open. Several pandemic-related unemployment programs ended last week. Consumer spending decelerates amid Delta. Opinions on a second term for Fed Chair Powell vary. CFPB makes cases against an ISA provider and small-dollar lender. BNPL for rent…
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New unemployment claims continue to drop though employers are still struggling to hire. The CFPB proposes a data collection rule for small business loans. Gary Gensler says banning payment for order flow is an option. API stock platform Alpaca raises $50Mn. Banks eased underwriting criteria at a record pace…
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GDP and employment continue to grow, despite Delta fears. Fed is ‘long way’ from a digital dollar. Ramp raises $300Mn, while Brex launches a venture debt product. DriveWealth raises $450Mn to power “Robinhood competitors.” Fiserv announces partnerships. Klarna hits US milestone as credit losses increase. Sezzle readies IPO. …
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Initial unemployment claims dropped for the fourth straight week. Fed officials could begin trimming easy money policies by fall. Retail sales and consumer confidence slide in July. A bipartisan Senate bill would modernize SBA lending. Plaid extends Series D with J.P. Morgan, Amex. Upstart announced a $575Mn convertible note…
