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 options. Affirm partners with Agoda. PayPal expands Pay Later options. New here…

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 stablecoin payments. PayPal lets users send and receive crypto. …

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 for private-label card issuing. Revolut and Wise still set…

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 threat to its funding. Auto…

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 to launch self-custody for crypto, NFTs. Plaid launches new capabilities. New here? Subscribe…

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 facility. Visa Ready adds BNPL. Rising rates exclude riskiest borrowers. New…

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 bureaus in the U.K. Truist acquires…

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 instant funding fees. SALT makes crypto lending available at 5,000 car dealers. Cross River…

Greetings, Home prices hit a record. The Fed has a near-impossible task in navigating today’s economic challenges. Former Ripple advisor nominated for Fed vice chair of supervision. Fed turns to private sector in talent hunt. NovoPayment raises $19Mn Series A. Cross River teams up with Revolut. Robinhood acquires U.K. crypto…