Today's Banking Pulse
Mortgage refinance demand plunges 18% as rates climb to 6.65%
Refinance applications fell 18% week‑over‑week, dropping to 38% of total mortgage filings—the lowest share since June 2025. The average 30‑year fixed rate rose to 6.65%, while purchase‑loan volume edged down 0.4% and the average loan size hit $473,600.
Also developing:
By the numbers: OakNorth acquires Monite to boost business banking
Wellspring Debuts Treasury Management Tool for Small Businesses
Wellspring has launched Wellspring Institutional, a treasury management platform tailored for small and midsize businesses. The solution merges traditional banking APIs with regulated stablecoin settlement rails, delivering centralized cash visibility, domestic and cross‑border payments, and yield generation on idle balances. It consolidates liquidity management, payments infrastructure, and yield capabilities into a single operating environment, aiming to simplify treasury workflows and strengthen financial oversight. The offering arrives as SMBs grapple with thin cash buffers and increasing reliance on credit cards for daily financing.
Retail Investors Miss Institutional Asset-Liability Matching Due to Fee Incentives
As Adam notes, it's interesting that big pensions, banks and insurance companies meticulously manage their portfolios using asset-liability matching process. Meanwhile, retail investors get style and factor investing shoved down their throat in exchange for high fees. Why aren't asset-liability...
Regtech HYPR Introduces Context-Based Attestation, Enhancing Identity Verification Beyond Traditional Checks
HYPR has launched a context‑based attestation framework to strengthen identity verification across hiring, onboarding, and account recovery. The method layers traditional document, location, and biometric checks with internal role data, workflow cues, calendar events, and peer validations. By continuously cross‑referencing...
Mexico ATM Provides 3‑Hour Theft Insurance
ATM in Mexico offers a 3-hour insurance policy in case you get robbed after withdrawing money https://t.co/KsC1PfnNqW
The People's Bank of China Set Its Loan Prime Rates (LPRs) Today - No Change Is Expected.
The People’s Bank of China left its benchmark Loan Prime Rates unchanged at 3.00% for the one‑year and 3.50% for the five‑year tenor, marking the ninth straight month of stability. Market participants had widely priced in a hold, reflecting the...
Adyen Shares Drop Up to 20% Following Cautious Outlook for Future Growth
Adyen posted H2 2025 net revenue of €1.27 billion, a 17% year‑over‑year rise, and total processed volume of €745 billion, up 19% excluding a major client. EBITDA grew 23% to €702 million, delivering a 55% margin, while full‑year 2025 revenue reached €2.36 billion. The company’s...
Yotta’s Fraud Suit Against Evolve Bank Dismissed by San Francisco Judge, Provisionally
A San Francisco federal judge dismissed Yotta Technology’s fraud lawsuit against Evolve Bank & Trust, citing procedural deficiencies and the indispensable‑party rule. The ruling hinges on the bankruptcy of Synapse Financial Technologies, the middleware that linked Yotta’s prize‑linked savings app to Evolve’s...
Betterment Strengthens Client Offerings with Mortgage Partnership and Advisor Model Marketplace Expansion
Betterment announced a nationwide partnership with mortgage fintech Rate, giving eligible clients with at least $100,000 in assets a discount of up to 0.75% on 30‑year fixed mortgages and a $500 closing‑cost credit through December 2026. The platform also launched an...
T‑Bills Yield Over 3%—Skip Low‑Rate Savings
The national average savings account interest is 0.39%. Yet T-bills are paying ~3.6% and no state/local taxes. Can buy them from TreasuryDirect or your broker. Or Treasury ETF (e.g $VBIL) or Treasury MMF (e.g $VUSXX) pay ~3.64%. Don't let your savings earn pennies.
Pensioner Takes on NAB in AUSTRALIAN STORY Tonight
Victorian pensioner Ian Williams lost $1,338 to an online banking scam and sued National Australia Bank (NAB) for a symbolic $379 million in damages. His case, featured on ABC’s Australian Story, highlighted the bank’s initial refusal to refund or apologise. Although...
More Instacart Credits: $10 or $20/Monthly Credits with Mastercard
Instacart is rolling out a new promotion for Mastercard users that grants a $10 monthly credit for personal cards or $20 for small‑business cards, applied to the second order each month. The offer also includes three months of free Instacart+...
Federal Reserve Born From Private Politicians' Secret Meeting
The Creature from Jekyll Island is a must read book. It helps you understand the creation of the federal reserve banking system in the states. The truth is that, The U.S. central banking system was conceived in private by a...
Zero‑Human Companies Are Already Being Built
I'm watching Anthropic and OpenAI and others ship agents that can operate businesses Meanwhile, DAOs are figuring out governance without humans in the loop And crypto rails are enabling 24/7 automated settlement The pieces are connecting Zero-human companies aren't science fiction They're under construction right...
In the $3 Trillion Private Credit Market, the ‘Shadow Default’ Rate Is Increasing as More Money Chases Lower-Quality Deals
Lincoln International’s Private Market Index shows the $3 trillion private‑credit sector is growing in size but slipping in quality. Enterprise value rose 1.9% while EBITDA growth slowed and the “shadow default” rate more than doubled to 6.4% over the past year....
Users Unaware Funds Are Held at Evolve, Echoing SVB Lessons
I wonder how many end users of certain products/services built on Stripe and Airwallex realize funds are held at Evolve. It's almost like no one learned anything from SVB failing because the gov't bailed out uninsured depositors. https://t.co/024w8yneu7
Stablecoins Process $390 B in Annual Payments
How much are stablecoins used to make payments? This is one of the trickier market-sizing questions. Luckily, @artemis and @McKinsey developed a new methodology to calculate Total Annual Payments Volume, estimated at $390B per year. More data in our @thestablecon report: https://t.co/upRya2aVyb
Understanding Certainty of Fate in Faster Payments
The episode explains Certainty of Fate (CoF) – the need for clear, timely confirmation of success or failure for UK account‑to‑account (A2A) payments – and why it’s vital for merchants, consumers and payment providers. It outlines key challenges, including legacy...
AI Agents Prompt Search for Finance's True North Star
[Sunday Muses] Agentic Banking is upon us. But where is Finance going? As AI agents begin to act autonomously inside financial systems, Dave & Dharm are poking us to Demystify Finance by asking the question: What is Finance's true North...
The Rise of Debanking: What It Means
👀 #debanking https://lnkd.in/eQ2CiKQf
Figure Technology Faces Major Data Breach Impacting Nearly One Million Customers
Figure Technology Solutions, the largest non‑bank home‑equity lender, disclosed a data breach affecting roughly 967,000 customer accounts. The breach resulted from a social‑engineering (vishing) attack on a single employee, allowing the ShinyHunters group to exfiltrate personal identifiers such as names,...
Iran’s Rial Collapse Mirrors Lebanon’s Crisis, Driving Citizens to Bitcoin
The Iranian rial has collapsed in 2026, spurring hyperinflation and prompting middle‑class savers to flee the banking system. Bitcoin and other cryptocurrencies have attracted billions of dollars, echoing Lebanon’s 2019‑2021 crisis where crypto became a financial lifeline. On‑chain data shows...
Erebor Claims to Be More American than US Banks
Love to hear how “more American” Erebor is than the 4,000+ US community banks. We’re certainly not beholden to foreign markets & our owners & customers are our neighbors. Wish them the best, but this is a really strange even...
Integration of Digital and Human Creates Competitive Edge
Competitive differentiation today comes from integration. It is about connecting digital capability with human experience in a way that feels seamless to the customer. https://t.co/Jk20pooXPJ
10x Banking and HassemPrag Partner to Drive Core Banking Modernisation Across Africa
10x Banking, a cloud‑native core banking provider, has teamed up with South African digital platform HassemPrag to offer African banks a low‑risk path to replace legacy systems. The joint solution combines 10x’s modular, cloud infrastructure with HassemPrag’s regional integration expertise,...
Top Seven Jurisdictions Lead Stablecoin Adoption, #13 Revealed
Stablecoin prevalence by jurisdiction: 1. USA 2. China 3. Hong Kong 4. Singapore 5. Japan 6. Germany. 7. UK Can you guess #13? More in our @thestablecon x @artemis State of Stables Q1 report 👀 https://t.co/ucHnGtrUdk
We’re On
Stripe processes billions without human intervention AWS scales infrastructure autonomously Algorithmic trading firms execute millions of trades per second We're already living in the age of zero human companies. We just haven't removed the last human yet. That final step? It's closer than you think.
From Corporate Iftars to Deep Discounts, Ramadan Reshapes Dubai Business
Ramadan slows Dubai’s relentless pace, trimming private‑sector workdays by two hours and compressing school schedules. Evening becomes the new business hub as hotels and convention halls host corporate iftars and late‑night suhoor gatherings that double as networking platforms for Muslims...
Local Deposits Multiply Community Economic Impact
For anyone curious about how local deposits multiple dollars into the local community, dig out your old Econ 101 textbook or search for “money multiplier”. When you keep your $ in a local bank it feeds the local economy. The...
Credit One Teaches Credit Pitfalls and Rebuilding Momentum
@CreditOneBank is building programs like Credit Wreckers to teach people what not to do with credit and help rebuild financial momentum. In this episode, we discuss how with Steve Min. Watch the full video: https://t.co/wUIHckaAy4 https://t.co/kXzIKFYg9G
Vedanta Resources Mobilises $350 Million in Fresh Borrowing
Vedanta Resources secured a $350 million, 3.5‑year revolving credit facility from a consortium of six banks, including First Abu Dhabi Bank, Mashreq, Standard Chartered, Deutsche Bank and JPMorgan. The loan, priced at SOFR + 435 bps, will refinance existing maturities, fund interest payments and...
First Citizens Seeks New Mergers to Cross Growth Threshold
First Citizens BancShares, sitting at $230 billion in assets, is actively scouting acquisitions to push past the $250 billion regulatory threshold that imposes stricter capital and reporting rules. The bank recently secured 138 BMO Bank branches across 11 states, adding a solid...
The Philippines: Digital Banking Empowers Northern Negros Students
Land Bank of the Philippines (LANDBANK) launched its Cash‑Lite Campus Programme at the State University of Northern Negros, bringing digital banking to more than 2,000 students and campus partners. The initiative offers no‑deposit PISO Plus accounts, QR‑enabled person‑to‑merchant payments, and...
Banks Cling to $10M Non‑interest Deposits, Risking Obsolescence
Ok, so somehow banks are going to retain a single customer's $10 million in noninterest bearing deposits? Like not pay someone any interest & they'll stay with the bank because they have FDIC insurance? This is such archaic thinking &...
Fee‑Free Accounts Offer 3.61% Savings, 2% Checking
We're fee free and paying high yields here. I'm not worried about the competition, I'm worried about local economies. 3.61 APY savings, 2.0 APY checking at https://t.co/HHwXUb7kB6
Access to Credit and Employment Growth for MSMEs: Evidence From Latin America and the Caribbean
A new IDB Invest technical note analyzes 21,696 MSMEs across 30 Latin American and Caribbean economies, linking credit access to employment growth. The study finds that an extra US$1 million in financing generates roughly four permanent jobs per year. Effects vary:...
Leadership's Risk Appetite Drives Digital Success
The biggest barrier to digital success is rarely technological or budget. It is leadership’s willingness to embrace change and take risks. Watch the full episode now: https://t.co/BQNDlxuwMR https://t.co/rgqIU4dXx1
Argentina's 32% Inflation Fueled by Runaway Money Growth
Argentina’s inflation comes in at a RED HOT 32.4%/yr. NO SURPRISE. AR’s money supply (M3) is growing at 38.7%/yr. That's WELL ABOVE Hanke's Golden Growth Rate of 9.8%/yr, a rate consistent with hitting its 5%/yr inflation target. INFLATION = PRES. MILEI'S ACHILLES HEEL....
Philippine Banks Deliver Another Banner Year
Philippine banks posted a record P403.1 billion net profit in 2025, up 3% year‑over‑year and the highest since 2008. Strong net interest income, which jumped 11% to P1.15 trillion, and a 10% rise in non‑interest income drove the earnings surge, despite a...
Virginia-Based City Lending Shuts Down
Virginia‑based retail lender City Lending announced its shutdown, ending operations after 11 years. The firm reported $446 million in mortgage origination volume for 2024 and employed more than 220 staff across 29 states, Puerto Rico and D.C. CEO Jorge Campodonico cited...
Fannie Mae, Freddie Mac Profits Decline in 2025
Fannie Mae and Freddie Mac reported a sharp decline in 2025 net earnings, falling roughly 12% year‑over‑year. The drop coincides with an 8% contraction in bank holdings of agency residential mortgage‑backed securities in Q4 and a reduced share of correspondent...
Rep. Hill Unimpressed by Trump’s GSE ‘IPO’ Plan
Representative Hill voiced strong skepticism toward President Trump’s proposal to launch an initial public offering of the government‑sponsored enterprises, Fannie Mae and Freddie Mac. He warned that a rushed IPO could destabilize the secondary mortgage market and raise borrowing costs...
FHFA Eliminates Key Fair Lending/Fair Housing Rule
The Federal Housing Finance Agency (FHFA) announced the repeal of its longstanding fair‑lending and fair‑housing rule that imposed heightened nondiscrimination standards on GSE‑originated mortgages. A recent GAO review gave FHFA a clean bill of health on its accounting, while noting...
Pulte Met With Many in Industry During First Year
FHFA Director Bill Pulte’s first seven months in office were marked by an intensive outreach schedule, meeting with dozens of banks, GSE representatives, fintech firms, and mortgage servicers. The FOIA‑released list shows roughly 45 engagements covering agency‑MBS policy, stablecoin warehouse...
Study Finds GSE-Backed Investor Loans Crowd Out FTHBs
A recent study shows that loans backed by government‑sponsored enterprises (GSEs) for investor purchases are increasingly displacing first‑time homebuyers (FTHBs) in the mortgage market. Investor‑originated, GSE‑secured loans grew 12% year‑over‑year, while FTHB loan share slipped 8% in Q3 2025. The...
Bank Deposits Remain Cheap, Abundant, and Slow‑to‑reprice
Deposits are US banks’ primary funding source; they are typically cheap, abundant, and slow to reprice. Many households keep substantial balances in bank accounts that pay little or no interest. https://t.co/jTcFqJyFST
Bankers Complain that Apple Has a Tight Grip on Mobile Payments
Apple Pay, Google Pay and Samsung Pay dominate Canada’s mobile payments, capturing roughly 90% of phone‑based transactions. The Canadian market, valued at about $1.39 billion in 2024, is forecast to surge to $20.48 billion by 2030. Major banks such as RBC, Scotiabank...
Stablecoin Advocates Push Government Loans Over Banks
Wow. Now stablecoin yield advocates are saying that government should provide loans to local communities rather than local banks. What could be wrong with that?
Lightspark Teams Up with Cross River Bank for Fiat Payments via Bitcoin
Lightspark, a Bitcoin Lightning Network startup, has partnered with FDIC‑insured Cross River Bank to enable 24/7 fiat settlement of Lightning transactions via the FedNow service. The collaboration aims at B2B, cross‑border and retail payments where instant settlement can improve cash‑management...
Challenger Brands Win Through Clear Purpose, Not Spend
Challenger brands do not win by spending more. They win by making clear choices about who they serve and what they stand for. We explore Rival’s study with @EFulwiler in this episode. Watch the full video: https://t.co/Y31f7tnfQ6 https://t.co/M2cWuLR3zt
Venmo Lags Zelle as Banks Outpace Innovation
Venmo falls further behind Zelle https://t.co/qIyIwXmCFq "This is a useful tale to counteract some of the doomsaying about banks and innovation. When they try collective action, banks often win, but cooperation doesn’t come naturally." Word. Now do ID. https://t.co/ahiMlNMmux