What’d I miss? News and Insights that got noticed - Week 9

Key themes this week (February 21 - 27)

• JPMorgan CEO Jamie Dimon: ‘I’m not against work from home, I’m against where it doesn’t work’
• President Trump wants to cap credit card interest rates at 10 percent. Is that even possible?
• [Weekly POLL ?? ?? ] Most (65%) think a 10% cap on credit card rates is not a good idea
• The AA opens for savings and loans with NatWest embedded finance partnership

JPMorgan CEO Jamie Dimon: ‘I’m not against work from home, I’m against where it doesn’t work’

“…JPMorgan CEO Jamie Dimon joins ‘The Exchange’ to discuss the current macroeconomic environment, if DOGE’s efforts could weigh on the economy, and much more…”

Key takeaways:

• Jamie Dimon clarified that he's not against work from home in general, but opposes it where it doesn't work effectively for the company.
• He respects employees' right to prefer working from home, but maintains that the company will decide what's best for clients and operations, not individuals.
• Dimon reiterated that JPMorgan Chase is committed to returning to the office, stating "We're going back to the office," and employees who disagree are free to seek employment elsewhere.

LinkedIn Post

President Trump wants to cap credit card interest rates at 10 percent. Is that even possible?

“…President Donald Trump talked about capping credit card interest rates on the campaign trail in the fall of 2024. And now a recent bill introduced in Congress proposes to turn that campaign promise into law. Senators Bernie Sanders, I-Vt., and Josh Hawley, R-Mo., recently proposed legislation that would cap credit card interest rates at 10 percent for five years after the bill is enacted…”

Key takeaways:

• Proposed Legislation: Senators propose capping credit card interest rates at 10%, echoing a past campaign promise. However, its passage is uncertain due to lobbying and potential unintended effects.
• Potential Impacts: A cap could reduce debt burdens but might lead to higher fees and limited credit access for some consumers.
• Consumer Strategies: Regardless of the cap, consumers should manage debt proactively by using balance transfer cards, seeking credit counseling, and focusing on repayment.

LinkedIn Post

[Weekly POLL ?? ?? ] Most (65%) think a 10% cap on credit card rates is not a good idea

It was interesting to read this article by Bankrate about the proposed 10% cap on credit card interest rates.

I especially liked this part: "It’s worth taking notice when politicians from complete opposite sides of the aisle agree on something that has potential to make a big impact for millions of Americans. But is such a cap even possible — and if so, how would it really affect consumers?"

So we asked the LinkedIn audience to let us know if they believed this proposed 10% is a good idea or not.

Key takeaways:

• Most (65%) think a 10% cap on credit card rates is not a good idea
• 32% think it is a good idea
• 3% selected other
• These are the results at time of publishing. Click the link below to see the most recent results

?LinkedIn Post

The AA opens for savings and loans with NatWest embedded finance partnership

"...Andrew Ellis, CEO of NatWest Boxed says: “Our partnership with The AA is a significant step in our journey to be the leading embedded finance provider in the UK. Boxed was built to power the financial services aspirations of UK’s biggest brands. We are proud to support the ambition The AA has for its customers, using our technology, balance sheet, operational support, and regulatory expertise to drive future growth...”

Key takeaways:

• The AA is launching savings and loan accounts with NatWest's embedded finance tools.
• Customers will have access to FSCS-protected savings and quick personal loans.
• This partnership aims to expand with more financial products in the future.

LinkedIn Post

Marqeta Announces TransactPay Acquisition, CEO Transition

“…To say that Wednesday (Feb. 26) was a busy news evening for Marqeta would be an understatement.

After the markets closed, the card issuing platform named Mike Milotich as interim CEO, replacing Simon Khalaf, who has stepped down from that role. Milotich will continue to serve as CFO.

And in addition, the company said it would acquire? TransactPay, a BIN Sponsorship provider licensed as an E-Money Institution (EMI) in the U.K. and European Economic Area. The deal, Marqeta said in the announcement, will strengthen its card program management capabilities in the U.K. and Europe…”

Key takeaways:

• Marqeta reported a 29% increase in processing volume and a 14% rise in net revenue, with Mike Milotich taking over as interim CEO.
• The company is acquiring TransactPay to enhance its European card program management capabilities.
• Marqeta named Mike Milotich as interim CEO, replacing Simon Khalaf, who has stepped down from that role

LinkedIn Post

Former Varo Bank exec Thibault Fulconis named new Yendo CFO

“...Founded in 2021, Yendo claims to offer the world’s “first-ever vehicle-secured” credit card, enabling users to access credit limits of up to $10,000 by leveraging their vehicle equity…”

Key takeaways:

• Yendo, a US fintech company, has appointed Thibault Fulconis as its new CFO, effective immediately.
• Fulconis brings 35 years of banking experience to Yendo, most recently serving as CFO of Varo Bank for seven years.
• Yendo, founded in 2021, offers a vehicle-secured credit card and secured $165 million last year to expand its services across the US.

LinkedIn Post

Dime hires Republic First ex-CEO Geisel

“...The Long Island-based bank has made a point of scooping up talent from banks that faltered in 2023 and 2024. Tom Giesel will serve as Dime’s senior executive vice president of commercial lending…”

Key takeaways:

• Dime Community Bank has hired Tom Geisel, former CEO of Republic First, as Senior Executive Vice President of Commercial Lending.
• This move is part of Dime's strategy to attract talent from struggling banks and expand its business.
• Geisel brings leadership experience from KeyBank, Webster Bank, and Sun Bancorp, despite challenges at Republic First.

LinkedIn Post

[CONFERENCE PLANNING 2025]

It is that time of the year to start planning for 2025 and determine which conferences to attend.?

To help you decide which events to register for I have created a list of conferences at the intersection of Financial Services and Technology.?

I have also included my current attendance status for each of the conferences. Feel free to share other conferences with me you are planning on attending or you think should be on this list.

Please let me know in the comment section which conferences you have selected and feel free to reach out if you want to connect at a conference I am attending.

Key takeaways:

• Many conferences to choose from in 2025 at the intersection of Financial Services and Technology
• The summary list will be a permanent section in this newsletter so you know what is up and you don’t miss anything
• Check out the link below for the full list (and potential updates)

LinkedIn Post

Conference Summary and spotlight ??

This is the summary list of conferences that are on my consideration list for 2025.

For the detailed list with links to the conference websites and agendas go to this link here:

LinkedIn Post

[Conference Spotlight ??] - Fintech Meetup

Check this out:

[NEW PODCAST EPISODE] ?????????

In this episode of Banking on Information, Heather Xiao, Founder and CEO of Horizon Zero, discusses the transformative potential of smart data and open banking. She emphasizes the importance of customer-centric frameworks and the need for alignment among stakeholders in the ecosystem. Heather shares insights from her experience working with various sectors, including banking and airlines, and highlights the value her clients gain from her expertise. Looking ahead, she envisions a future where open banking and smart data significantly enhance customer experiences and societal benefits, while acknowledging the challenges that lie ahead in standardization and collaboration.

?? Listen now on the Informationbanker’s YouTube channel and stay tuned for more episodes that will provide insight into the why of my guests and their thought about a possible future. You can also subscribe and listen on Apple Podcast and Spotify.

You can find the episode here:

As I am always interested in what you think about these posts, send me a message, or just leave a comment on the post on LinkedIn. If you like reading this please engage with the posts since that is the currency of LinkedIn.