WORKWEEK

3 Fintech News Stories #1: Steal From the Rich and Live Off the Interest What happened? Robinhood is starting to figure out more ways to make money: Some notable things happened in Robinhood’s results in the second quarter, announced in early August. No, it wasn’t a jump in trading. But average revenue per user ticked…

This happened about a month ago: The Federal Reserve continued a sprint to reverse its easy-money policies by approving another unusually large interest rate increase and signaling more rises were likely coming to combat inflation that is running at a 40-year high. Officials agreed unanimously Wednesday to lift their benchmark federal-funds rate to a range…

3 Fintech News Stories #1: Where Will Corporate Banking Go Next?   What happened? Rho announced the addition of expense management capabilities to its platform: Corporate spend and cash management company Rho announced that it is adding expense management to its offerings with “custom controls designed to make expenses less painful.” Via email, the company told…

Editor’s note – Today’s essay was co-authored with Kevin Moss. Kevin is the former Chief Risk Officer for SoFi, a former Board Member at Varo Money and Snap Financial and the former Risk Leader for the Consumer Lending Group at Wells Fargo. I could go on and on, but suffice it to say that Kevin…

3 Fintech News Stories #1: It Always Feels Worse When It Happens to You What happened? Digit, a fintech company focused on helping consumers save money, got into trouble with the CFPB: The Consumer Financial Protection Bureau (CFPB) is taking action against Hello Digit, LLC, a financial technology company that used a faulty algorithm that…

Grab your fedora and bullwhip; we’re going to be starting with some fintech archeology today. Journey back with me to the halcyon days of 2008, when the traditional banking system was imploding, consumers were pissed, and web startups focused on personal finance were just beginning to flourish. Here’s the New York Times: When the financial…