by Brian Pillmore | May 17, 2023 | Brian's Blog
Historic bank failures, interest rate hikes, inflation, etc. But inflation has had BY FAR the biggest impact on average Americans. In most circumstances, inflation is a sort of invisible tax that disproportionately affects the poor. In this case, it’s not invisible at...
by Ken Chase | May 16, 2023 | Banks, News
The Federal Deposit Insurance Corporation (FDIC) has unveiled a proposal to replenish its deposit insurance fund. The proposal released on Thursday would see the nation’s largest lenders bear more than 95% of the cost, according to a recent Reuters report. The fund...
by Brian Pillmore | May 12, 2023 | Brian's Blog
Here’s what that means for the future 👇 When everyone has easy access to standardized, inexpensive, instantaneous ways of performing core functions (opening accounts, taking deposits, issuing loans, international transfers, etc.), Every bank will need to find new ways...
by Brian Pillmore | May 11, 2023 | Brian's Blog
Now fintechs are buying chartered banks to cut costs…. What happened? When a fintech builds their app, the only thing they need to be focused on is building an incredible app and growing their customer base. Everything else is a distraction. Operating a chartered bank...
by Ken Chase | May 11, 2023 | Banks, News
The Federal Reserve released two separate reports this week that point to continuing financial risks for U.S. economic growth throughout 2023. The reports suggest that an acceleration of tightening lending standards and a contraction in credit could contribute to an...
