​Happy Friday!!!
 
Here is the Uncle Sean Update for 6/12/26 (subscribe here for free):
 

• Pretty sure everyone saw this coming with gas prices remaining elevated…  As expected, the BLS May CPI report came in hot at 4.2% YoY (April was 3.8%) which is the highest annual reading since April 2023.  Core CPI at 2.9% (April was 2.8%) with the energy index up 23.5% (gasoline at 40.5%).  CNBC has a good summary analysis.

 

• 👉👉👉 FinPro, Inc. announced the formation of The Alliance Consortium, LLC, (The Alliance)™ along with as strategic investment by Fiserv into FinPro demonstrating Fiserv’s commitment to The Alliance and community banks as a whole.  The Alliance is a bank‑owned entity designed to provide excess deposit insurance coverage for community banks and their depositors beyond traditional FDIC limits. 💥
  • “In addition to providing excess deposit insurance coverage, The Alliance will offer participating banks access to enhanced risk monitoring and mitigation services, including a free subscription to FinPro’s Scorecard System which is the foundation for the insurance rating risk analytics. In addition, FinPro will be providing five levels of risk mitigation which collectively should reduce the number of bank failures and materially reduce the cost of bank failure resolutions. FinPro is currently in process of getting patent protection on both its unique Scorecard System along with the mitigation process.”
    • OUTSTANDING!!! 🚀

 

• This speech by FDIC Chairman Travis Hill is a must read (the timing and context aligns 💯 perfectly with FinPro’s excess deposit insurance announcement above 👆) - Rethinking Resolution Readiness: Learning from Experience and Sharpening Focus. A few key points:
  • enhanced IDI resolution planning and access to third-party service providers and/or internal systems with the goal of lowering the cost of a bank’s failure
  • expect to continue to build up the DIF and proceed towards the FDIC’s long-term target of 2%
  • plans to further expand abilities to rapidly identify insured versus uninsured deposit accounts in a failure
  • working on a modified procurement process for resolution-related contracts with private sector financial advisors with the goal to “increase competition, reduce timelines, and allow for greater flexibility in the overall process, so that we can contract with top industry participants and reduce overall costs to the DIF.”

 

• Smiley Technologies announced a partnership with SavvyMoney to bring SavvyMoney’s credit awareness, financial education, and personalized opportunities directly to Smiley Technologies bank customers within their digital banking platform, without asking their end customers to go elsewhere or start over. 👍

 

• Vine announced the launch of its new Reporting Dashboard that provides a centralized view of key agricultural and commercial loan portfolio metrics, unifying loan portfolio performance with core banking data, including deposit relationships and liquidity trends, giving institutions the full financial picture of their performance.

 

• Grasshopper Bank (FDIC 59113; total assets $1.5B) announced the launch of Grasshopper Treasury, in partnership with Waldo, to help Grasshopper’s business banking clients optimize idle cash and access treasury portfolios directly through the Bank's digital platform, with target yields of up to 5% (and same-day withdrawals).

 

• VIVA Finance announced a new partnership with DR Bank (FDIC 58257; total assets $861M) where DR Bank will be a sponsor issuer of loans on VIVA’s employer-based lending platform.

 

• Autobooks, in conjunction with their partnership with Global Payments (NYSE: GPN - formerly WorldPay) adds pay by card to bill pay allowing consumers and small businesses to pay any bill by credit card, including bills owed to billers who do not accept card payments directly.

 

• 👀 Good things happening here as Republic Bank of Chicago (FDIC 19333; total assets $2.5B) partners with Kobalt Labs to modernize its third-party risk and compliance oversight with further expansion into fintech partner diligence and marketing collateral review.
  • Check out Kobalt AI-based TPRM and compliance solutions at https://www.kobaltlabs.com/. 🤙

 

• Square Financial Services (FDIC 59177; total assets $1.8B) announced the launch of Square High Yield Savings paying 3.5% APY to Square sellers that maintain a daily balance of $10K or more in their Square Savings account. Square also announced the upcoming automated sales tax folder, a new feature within Square Savings that automatically sweeps the sales tax collected on eligible card sales into a dedicated folder (helping owners who struggle to keep track of sales taxes collected).

 

• Speaking of high-yield savings…  Klarna announced the launch of Klarna Savings accounts in the U.S. paying 3.28% APY with no minimum and no fees available directly in the Klarna app and held by WebBank (FDIC 34404; total assets $2.6B).

 

• Sponsor Bank flex 💪 as Capital Community Bank (CCBank; FDIC 33823; total assets $1.5B) announced the launch of Quill Bank to serve the fintech banking vertical highlighting a trusted brand backed by the bank’s regulatory, operational, and relationship-banking expertise.
  • Andrew Cusick, Chief Business Development Officer, said, “Innovation without a solid banking backbone can be a liability. Quill Bank exists because fintechs deserve a brand that reflects the institution standing behind them — one with tested experience, real relationships, and know‑how.”
    • Per the PR, “Quill Bank's launch is effective on June 30, 2026, when the Quill.Bank website will go live. Fintechs interested in learning more about Quill Bank can contact Andrew Cusick at (801) 705-4383 or [email protected]”
      • Oh and I couldn’t help but notice that Limelight Bank (the direct digital bank brand of CCBank) is sporting a nice 3.90% high-yield savings account. Sweet!!! 😉

 

• Members First Credit Union (charter 67153; total assets $206M) selects Mahalo and Correlation for a complete primary tech stack upgrade with Mahalo powering online and mobile alongside Corelation Keystone as new core processor replacing FLEX.

 

• Oof… 😬 The NCUA has filed a lawsuit against the former president and CEO of Jackson Area Federal Credit Union (JAFCU) and her husband, alleging the executive misappropriated at least $95M 😲 from the institution over a period spanning several years, with the funds allegedly going to luxury jewelry, a grand piano, multiple properties, and more than $14 million in credit card charges. 
  • Jackson Area Federal Credit Union (charter 8445 and previously conserved on 5/6/26) filed a revised March call report in May showing $71M in total assets (Dec was $162M) and a Net Loss of -$92M (due to a misc non-interest exp charge of $92M) resulting in a negative equity position of -$77M (Source: FedFis).
    • By the way…  Credit to Mark Treichel who wasn’t the only one with a raised eyebrow when JAFCU was conserved, but he was the only one that I saw with a legitimate deep dive as to why this seemed odd from the get-go. (source: May 7 - https://www.marktreichel.com/post/five-lessons-from-the-jackson-area-federal-credit-union-conservatorship).  Great work, Mark! 👏

 

• Some personnel moves:
  • Yendo announces Kevin Bird as Chief Product Officer and Nizar Rana as Chief Marketing Officer.
  • Synctera welcomes Chris Mayor as CTO.

 

• Notable FinTech funding for the week:
  • Reset (embedded EWA platform for community banks and CU’s) raised $6M in Seed funding with participation from the Bankers Helping Bankers Fund and many others.
  • EDGE Markets (fintech banking solution for emerging verticals such as betting, gaming, and casinos) raised $29.2M in Series A round.
  • Current (fintech banking app for consumers) raised $80M in Series E funding round at a $1.5B valuation stating a third consecutive year of growth exceeding 70%.

 
 
Random Uncle Sean stuff:

• Holy smokes – I hope you were able to watch Game 4 of the NBA Finals this week.  That was a CRAZY game with the Spurs giving up a 29 point lead (the largest in NBA finals history) to lose to the Knicks 106 – 107 in the last second.   ESPN analyst and former NBA All-Star Charles Barkley did not hold back on his criticism of the Spurs performance. 😲 Game 5 is Saturday night in San Antonio.
• 🙏 Welcoming all international visitors to Texas for the World Cup ⚽!  This Austin American Statesman article is fantastic -  Europeans in Texas react to Buc-ee's! 🤠
  • "Europeans seeing their first Buc ee's be like: Why does this gas station have its own economy? 😭"
• And here are the obligatory Dad / Bad Jokes to close out this crazy week!!!
  • Running late is my morning workout! 😬🏃‍♂️‍➡️
  • U-Haul has the worst drivers of any moving company!!! 🚚😂
  • Not to brag too much, but…  I can always tell when they use fake dinosaurs in a movie. 🦖😉
  • “Orion’s Belt is a big waist of space.”  Terrible joke – only three stars. 😄
  • And my favorite this week:
    • Wine is Narcan for when you overdose on Microsoft Teams! 🍷🤣

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend and please stay safe!  GO SPURS GO!!!! 🏀🏆
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 
 

Happy Friday!!!
 
And happy National Donut Day 🍩 – nom, nom, nom (National Donut Day 2026 deals, freebies at Krispy Kreme, Dunkin', more)!!!  Here is the Uncle Sean Update for 6/5/26 (subscribe here for free):

• 💥 A big virtual fist-bump 👊 to Lumin Digital as the latest Premier Sponsor of Bankers Helping Bankers (BHB)!!!  “Community banks are the backbone of local economies across the country, and Lumin Digital is committed to helping them drive meaningful results,” said Kelley Michalik, Chief Growth Officer at Lumin Digital. “We’re proud to partner with BHB to ensure community bankers have access to the data, guidance, and support they need to compete.”  🤘

• 👀 CORA Group has acquired Finastra’s U.S. Mid-Market banking business which includes Finastra’s Phoenix Core System, Malauzai Digital Banking and Fusion Analytics businesses.
  • The U.S. Mid-Market business will operate as a focused, standalone company, keeping the same products, people, and customer relationships that define it today, with the added backing and stability of Constellation’s global platform.

• 👏 Congrats to Happy Money (consumer finance company) as they announced a milestone achievement 💪 with more than $7B in cumulative loan originations; and has appointed Tim Parsons as Chief Risk & Analytics Officer to support their next phase of growth.

 
Of course Uncle Sean has to look at some recent macroeconomic updates:

• The BLS released the May Jobs Report showing a whopping +172K jobs added 🔥🔥🔥 (versus 85K estimate).  Plenty of movement in the yield curve as rates are moving higher (with the short end moving more and flattening the curve somewhat – reference CNBC 2Yr/10Yr Spread dropped almost 12% today to 0.38).
  • April was revised up by 64K from +115K to +179K; and March was also revised up by 29K from +185K to +214K – yielding a two-month revision of +93K (which is huge).  You can check out the revision history here.
  • Average hourly earnings came in at 3.4% YoY (not great as this is below current inflationary readings) and the unemployment rate remained steady at 4.3%.
  • The labor force participation (LFP) rate remains dismal at only 61.8%. 
    • 👉 This 2023 report from the St. Louis Fed, The Labor Force Participation Rate, Explained is an excellent document explaining why the LFP is important (a falling LFP rate can slow the growth of GDP, since fewer people are contributing to the nation’s output of goods and services).  Note that the graphs are updated through current May 2026 data – and the LFP for “prime age adults” (25 – 54) has been rising (currently at 83.9%).

• ICYMI…  Last week the BEA second estimate of 1Q2026 GDP was revised down 0.4% to 1.6% due in large part to downward revisions to business investment and consumer spending.

• The BEA also released April PCE last week showing inflation at 3.8% with core PCE at 3.3% - well above the Fed’s 2% target. The personal savings rate fell to 2.6% (lowest since 2022) as consumers are feeling pinched.

• Just to prove it’s not all gloom and doom - AAA is reporting that national gas prices have declined nearly 20 cents in one week!  I’ll take it!!! 😊

• And just in case you were wondering…  Newly appointed Federal Reserve Chairman Warsh will lead the next FOMC meeting which is less than two weeks away on June 16-17 and includes a Summary of Economic Projections. 
  • Talk about a rough couple of weeks at your new job!  I’ll have my popcorn ready for that press conference!!! 🍿

 
Now back to the rest of the Update 😊:

• Aeropay announces integration with Jack Henry Payments Orchestrator (fka Victor Technologies which JKHY acquired from MVB Bank in Sept 2025) to expand Aeropay’s instant payment capabilities (RFP and RTP) and reinforce its national pay-by-bank network.

• Experian announced a new integration with Fiserv (via Fiserv’s VerifyNow™ Advantage) that delivers “real-time debit card verification” for Experian Link.  This new integration helps merchants combat fraud and reduce false declines by enabling merchants “to authenticate payments by verifying a consumer’s identity with debit card ownership data, providing a more accurate way to authenticate transactions and reduce fraud without slowing down legitimate customers.”

• Fiserv (Nasdaq: FISV) has partnered with Cognition (AI agent lab) to deploy Devin, Cognition’s AI software engineer, “to accelerate the modernization of core banking technology and shorten the time it takes for new capabilities to reach Fiserv financial institution clients.”

• Citizens Bank (FDIC 14851; total assets $1.4B) expands its existing relationship with Alkami by selecting MANTL for account opening across all banking channels for both retail and business customers.

• Mocse Credit Union (charter 12805; total assets $430M) selects Narmi for its digital banking upgrade with an emphasis on improving its member engagement, operational flexibility, and small-to-medium business banking capabilities under the Narmi One digital banking platform.

• Woodforest Bank (FDIC 23220; total assets $9.2B) selects Jack Henry for core processing to support its continued growth, modernization, and long-term digital strategy.
  • The article emphasized that while “Jack Henry has more than 35 clients with over $9 billion in assets, but all of them have either been through a merger or organic growth with Jack Henry. Woodforest represents the largest new core signing in Jack Henry's history based on number of accounts and underscores the company's continued momentum with larger financial institutions.”

• Walmart backed OnePay is looking beyond Walmart to fuel its expansion (per Bloomberg reporting).  OnePay is exploring partnerships with payroll firms and other companies to offer their employees direct deposit accounts, per the report.

• Great Northwest FCU (charter 24606; total assets $267M) partners with InvestiFi to enable its 18,000 members to invest in ETFs, stocks, and cryptocurrencies directly through their digital banking channels.
  • Additionally, members will also gain access to InvestiFi's Guided Investing, a robo-advisory service that provides portfolios based on individual risk tolerance and financial goals, along with the vendor's suite of financial education resources. 🤙

• Payfinia (embedded payments for community FI’s) has completed its integration with The Clearing House RTP® network and can now “connect to the instant payment network on behalf of financial institutions through its Instant Payment Xchange (IPX) platform. The milestone extends Payfinia’s multi-rail reach across both the RTP network and the FedNow® Service, delivering true payment orchestration from a single, unified integration point for the company’s growing roster of nearly 30 community financial institution (FI) clients.”

• Previously conserved on 1/22/26, Beverly Hills Federal Credit Union (charter 9823, total assets $15M) merges into Nuvision Federal Credit Union (charter 566; total assets $3.9B) per the NCUA.

• The U.S. Department of the Treasury announced the launch of the Trump Accounts app and next steps for the Trump Accounts – official launch is scheduled for July 4th with account activation emails to be sent out in phases.
  • Here is the link to download the App - Trump Accounts - Jumpstarting the American Dream
  • Here is the IRS guidance (including Form 4547) - Trump Accounts | Internal Revenue Service

• Effective July 4, the SBA is doubling the loan limits in both the 7(a) and 504 programs to $10M cumulatively. 👍

• Some personnel moves:
  • 🎉 Congratulations to Scott Martorana for his recent promotion to President & CEO of FinPro Capital Advisors, Inc. (FCA).
  • 👏 And a shout out to Natasha Vernier as she joins Bretton AI as their new Chief Operating Officer per this LinkedIn Post.

• Notable FinTech funding for the week:
  • Ramp (corporate spend management and banking platform) raised $750M in Series F funding round at a massive $44B valuation 😲; and separately announced the launch of Stack, an AI operating system built specifically for accounting firms.
  • Airwallex recent capital raise (Airwallex declined to comment per the Axios article) of an undisclosed amount is now pushing a $12B valuation – quite the jump from their previous capital raise of $330M Series G back in Dec 2025 at a valuation of $8B.  Airwallex also announced the acquisition of Leapfin.

 
 
Random Uncle Sean stuff:

• We knew it was coming, but unfortunately it’s here now…  This week, the USDA confirms our first case of the New World screwworrm in Texas.
  • We’ve conquered the screwworm before and we will do it again – this Texas A&M AgriLife website (https://agrilifeextension.tamu.edu/new-world-screwworm) as well as this USDA site (https://www.aphis.usda.gov/livestock-poultry-disease/cattle/ticks/screwwormis) are both great educational resources with factsheets and current articles / updates.  As with pretty much everything in life, education and awareness is key.
• We made it!!!  Here are some Dad / Bad Jokes to bring in the weekend vibe!!!
  • Does anyone know if the arachnophobia society has a website…??? 🕷️🕸️😅
  • Never lie to an x-ray tech, they can see right through you! 😆
  • Dermatologists make rash decisions…. 😉
  • Lactose intolerant people often blame udders for their problems… 🐮😂
  • You would think that a snail would move faster without a shell…  but it just becomes more sluggish… 🐌🤠

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend and please stay safe!  Oh, and GO SPURS GO!!!! 🏀🏆
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 

Happy Friday!!!
 
Happy Memorial Day Weekend as we remember and honor the fallen service members of the U.S. military 🙏.  Here is the Uncle Sean Update for 5/22/26 (subscribe here for free):
 
A look at some evolving regulatory matters as a couple of White House Executive Orders caught my attention:
Warning that some of this contains unsolicited Uncle Sean “Off the Rails” commentary… 😊
 

• First up was Integrating Financial Technology Innovation into Regulatory Frameworks – The White House with the purpose of removing roadblocks to innovation, bank-fintech partnerships, and charter application processes.
  • I’m happy to see Sec. 3 “Streamlining Regulatory Process” - particularly the last line “with the importance of safety and soundness, consumer and investor protection, market integrity, financial stability, and oversight.”  Hey – who doesn’t love innovation? 🤙
  • However, Regarding Sec. 4 “Access to Federal Reserve Services” - I do have some concerns about the compliance (or lack thereof) scenarios of enabling “uninsured depository institutions and non-bank financial companies, including those engaged in digital assets and other novel financial activities…” access to real-time payments (FedNow); specifically as it relates to MSB’s / money transmitters as not all are playing in the same regulated playground.

 

• Then came this EO - Restoring Integrity to America's Financial System – The White House which focuses on heightened AML / CFT from banks and CUs (including narco and human trafficking and other illegal activity) particularly as it relates to low-dollar cross-border funds transfers; and credit risks associated with “non-work authorized” population (unlawful / unauthorized immigrants).
  • They did finally recognize MSB (Money Service Business) and third-party processors (including P2P platforms).
  • Uncle Sean’s take – I absolutely get it at the surface level, but it feels a little weird when taken in conjunction with the other White House EO as this one seems to place additional emphasis on banks to counter these risks (Restoring Integrity) while the other EO (Fintech EO) seems to promote non-bank fintech companies access to Fed Master Accounts (albeit “skinny” access) and establish partnerships with financial institutions. 
    • Seems like they got the cart before the horse on this one – especially when compared to the other Fintech EO.  As always – let me know your thoughts!!! 😊

 

• 👉👉👉 The always insightful Sarah Beth Felix has a great summary write-up here with this LinkedIn post calling out the two EO’s as incongruent (yes, that term took me straight to middle school geometry flashback on congruent triangles 😊).  I highly recommend following her for all things AML!!!

 

• Meanwhile, this ABA article highlights the Fed’s formal proposal to create ‘skinny’ master accounts but barring access to traditional banking backstops such as the Fed’s discount window, intraday credit and interest on reserve balances.
  • Full documentation can be found here with this FRB press release.

 
A quick note on the economy:

• 👀 Certainly worth keeping an eye on…  Longer dated Treasury Yields pretty much threw a temper tantrum earlier this week with the 10-YR hitting 4.66% (not seen since Jan 2025) before settling back to a still elevated 4.57% on Friday; and the 30-YR hitting 5.18% (not seen since 2007 😲) before settling in at a still high 5.08% on Friday.

 

• The University of Michigan U.S. consumer sentiment index fell to a record low in May of 44.8 (April was 49.8). 😬

 
Now back to the rest of the Update:

• NMI (embedded payments infrastructure) announced they have acquired Dwollla (API-enabled end-to-end A2A ACH and real-time payment platform) further strengthening NMI’s embedded payments platform.  The acquisition brings more than 400 Dwolla customers to NMI, creating a combined business that processes close to $700B in annual transaction volume.
  • Dave Glaser, CEO of Dwolla, will join NMI’s executive leadership team as Chief Operating Officer.

 

•  Shout-out to my friends 🫶 at Acceleron (they automate international wire xfer and enable in-house FX capabilities for community FI’s) with their partnership with BCUS, Inc., dba Banking Circle US in Connecticut (BCUS), to simplify international wire processing for U.S. community financial institutions.
  • This LinkedIn post by Damon Magnuski (Founder and CEO, Acceleron Bank) sums it up best, “Working with Darsh Mariyappa and the BCUS, Inc. team has been a genuinely great experience, and the integration we've built together addresses something I hear from community bankers constantly: inbound wires are still too manual, too slow, and too prone to error. That changes now.” 👏

 

• 👉 Lumin Digital outlined the next phase of its platform strategy, expanding beyond digital banking into a unified system spanning CRM, lending, payments, and service.

 

• BankSouth (FDIC 16418; total assets $1.6B) selects FIS® Core Banking Platform driven by the bank’s need to better serve its customers by integrating AI capabilities and third-party fintech solutions more rapidly.

 

• State Employees’ Credit Union (charter 66310; total assets $59.7B) selects Corelation Keystone core processing system to provide its members with a more "responsive" system that can roll out new products and improvements aligned with their demands; and increase automation and service efficiency through a holistic overview of member relationships and real-time account information.
  • Recall back at the beginning of April where State Employees’ Credit Union had selected Engage fi as its strategic partner for a multi-year engagement spanning technology, operations, and enterprise transformation.

 

• My First Nest Egg lands a couple of announcements again this week with CU’s both big and small – they’ve been on a roll (Uncle Sean loves ❤️ early financial literacy programs):
  • Vantage West Credit Union (charter 68558; total assets $3.3B) partners with My First Nest Egg to help children and teens build strong money habits early.
  • Fox Federal Credit Union (charter 16954; total assets $38M) launches a family-first financial education partnership with My First Nest Egg.

 

• Plaid announced the launch of Plaid Guaranteed Payments – a fully managed bank payments solution for merchants / fintech companies that evaluates every transaction in real time and returns an approval decision in milliseconds (enabling instant crediting of accounts / delivery decisions).  “If Plaid approves it, we guarantee settlement. If a payment fails, we cover the loss and handle recovery.”  Nice! 👍 
  • Guaranteed Payments is built on Plaid’s Signal (their AI-powered ACH risk platform) and Protect (their real-time fraud intelligence system).

 

• Meanwhile, Bitcoin Depot (Nasdaq: BTM), a US-based Bitcoin ATM operator filed for Chapter 11 Bankruptcy protection.  The company’s network of more than 9,000 BTM kiosks has been taken offline as it begins an orderly wind-down and asset sale. Alex Holmes, CEO of Bitcoin Depot cited “…increasing litigation and regulatory enforcement” faced by BTM operators.

 

• 👀 Check out Imprint as they get in on a pair of high-profile card announcements this week:
  • American Express (NYSE: AXP) and Fanatics announced the launch of the new Fanatics American Express® Card open-loop co-branded credit card issued by First Electronic Bank and managed by Imprint.
  • Shell Oil Products US announced the launch of the new Shell Performance Elite World Mastercard® open-loop co-branded credit card issued by First Bank & Trust and powered by Imprint.

 

• Notable FinTech funding for the week:
  • Mercury raised $200M in Series D funding round at a $5.2B valuation ahead of the upcoming launch of Mercury Bank, N.A..
  • Relay (small business banking and money management platform) raised $50M in growth capital as the company surpasses $1.3 billion in managed deposits (through Thread Bank) and 150,000 small business customers.

 
Random Uncle Sean stuff:

• Pour one out 🍺…  After 177 years of brewing history, Pabst Brewing confirmed it is ceasing production of Schlitz “the beer that made Milwaukee famous.”
• Check out Sail250® gathering of tall ships and military ships in celebration of the 250th Anniversary of the founding of the United States.  With dates spanning 5/27 – 7/16, be sure to check out these links for destination specific celebrations and info on the international fleet of tall ships (some great pics): Sail 250® New Orleans, Sail250® Virginia (Norfolk, Host City), Sail250® Maryland (& Airshow Baltimore), Sail4th 250 (Port of New York & New Jersey), and Sail Boston.  Very cool!!!
• And here are the Dad / Bad Jokes to kick off Memorial Day Weekend!!!
  • What kind of pants does a Ghosthunter wear?  Just a paranormal jeans… 😉
  • Mom said I could be anything when I grow up…  So naturally, I became an issue! 🤠🙃
  • (while introducing myself at the Avengers superhero board meeting) “Well, I was bitten by a radioactive lawyer and ended up with the power of attorney.” 🤣
  • And my favorite for the week….
    • I went to get my hair cut and I told my hairstylist lady to “just make me look good.”  So, she started drinking… 🫤😅

 
 
“The world needs good people - be one of them.”
 
Have a GREAT MEMORIAL DAY weekend and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 
 

Happy Friday!!!
 
Sending this a little bit early today (as I hope to play hooky for a few hours this afternoon – but don’t tell my Boss 😊)… Here is the Uncle Sean Update for 5/15/26 (subscribe here for free):
 

• Congratulations to Kevin Warsh as he has been confirmed to serve as the 17th Fed Chair.  I enjoyed this writeup from J.P.Morgan Wealth Management (credit Hilarey Gould) as a good and thorough overview.
  • The next FOMC meeting is scheduled for June 16-17.

 

• The BLS April CPI Report came in hot again as expected at 3.8% YoY (last month was 3.3%) with Core CPI at 2.8% YoY (last month was 2.6%). 
  • The big item that caught my attention was that wage increases dropped to 3.6% YoY marking the first time CPI inflation has outpaced wage growth since 2023.  This, of course, has pulled the savings rate down to 3.6% (the lowest level since 2022 “rage spending” post-lockdown).
  • 😒 No surprise to anyone who has bought gas or groceries as of late (you know – the two things we can’t do without)… YoY, Energy was up 17.9% and the gasoline index was 28.4% higher; coupled with Food up 3.2%...
    • But hey – here is some good news…  My doctor will be happy that I am eating less red meat (can’t afford steaks anymore 🤬); and early estimates are suggesting Social Security recipients could get a nearly 4% cost-of-living adjustment. Okay – now that part is cool. 😊

 

• 👀 De Novo watch… 
  • The OCC has granted preliminary conditional approval for Augustus Bank, N.A. (fka Ivy) as a full-service US national bank citing a capital requirement of $52.5M and a tier 1 leverage ratio of no less than 10%.
  • The FDIC has approved Stellantis Bank USA (Utah ILC) citing capital requirement of $150M and leverage ratio of not less than 15%.

 

• Fiserv (Nasdaq: FISV) comes out with a pair of announcements this week as they hold their 2026 Investor Day presentations (here is a link to their very impressive Investor Day 2026 slide deck):
  • 👉 One of the big takeaway’s (for me anyway as there were many) was Fiserv’s announcement of agentOS: The Operating System for Agentic AI in Banking in conjunction with their strategic collaboration with OpenAI.  Allowing FI’s to deploy agents safely across core, processing, payments, and digital with Fiserv serving as their AI partner.  Additionally, the agentOS Marketplace allows for Fiserv agents, Bank specific agents, and Third-party agents all within the same governed architecture.
    • This additional Fiserv blog regarding AI and their agentOS by Fiserv is a must-read for more info - From Assistance to Action: What Agentic AI Means for Financial Institutions.
      • Initial FI pilot partners include First Internet Bank and Boulder Dam Credit Union (currently running pilots) with Bank OZK, City National Bank, SalemFive, and SouthState all co-developing the next wave of agents, with deployments beginning this summer.  Initial agent partners include Arva AI, Cognext, iTuring.ai, Lumio Solutions, Osfin.ai, Sardine, Sierra, Tracfox, and Trulioo. 🚀
  • Additionally, Fiserv announced a definitive agreement with Bridgeport Partners to form a joint venture encompassing Fiserv’s ATM Managed Services, Cash & Logistics, and MoneyPass businesses. 
    • Upon closing, Bridgeport Partners is expected to assume operational control of the businesses and oversee day-to-day management.

 

• Uncle Sean giving a virtual fist-bump 👊 to my friends at Linker Finance as the technology foundation layer behind the launch of Always.Bank, the direct digital bank division of 22nd State Banking Company (Uncle Sean loves ❤️ the direct digital bank / brand model).
  • Linker Finance will support “deposit account opening, commercial onboarding, treasury and payments functionality, CRM tools for bankers and back-office teams, and fully branded mobile and online banking experiences. The platform integrates in real time with leading core providers, including CSI, and connects to a broad ecosystem of third-party services for automated KYC/KYB, intelligent fraud detection, money movement, payments and analytics. This modular approach helps community banks deploy faster, reduce operational effort and expand capabilities without requiring a core conversion.”  VERY NICE!!! 👏

 

• 💥 And check out my friends at equipifi (a BHB Fund company) CONTINUING TO CRUSH IT 🤘 with a pair of announcements this week:
  • Financial Center First Credit Union (charter 68658; total assets $953M) announced the launch of its new BNPL solution to its 60,000 members, powered by equipifi, “becoming the first credit union in Indiana to offer this flexible, in-house payment option directly to members” all within Financial Center's secure Digital Banking experience.
  • 🎉 equipifi raised $34M in Series B funding round 💰💰💰 to expand equipifi's reach to a broader base of FI partners and deepening product capabilities to further extend its leadership in the market. The company expects to double its headcount over the next year, with hiring focused on product and engineering roles.
    • BNPL has now become table stakes (um, did you see Klarna’s 1Q26 earnings?) and equipifi provides THE solution for FI’s to white-label installment options (both pre and post-purchase functionality) directly within the institutions own mobile and online platforms – preventing their customers from leaving the bank to an outside third-party.

 

• PayPal (Nasdaq: PYPL) partners with Anthropic to increase AI fluency for Small Businesses by offering a FREE online course. “The course includes nine lessons featuring videos from AI fluency researchers and small business owners. The interactive, on-demand format allows people to learn at their own pace, with instructions rooted in the 4D AI Fluency framework designed to help people use AI safely and effectively. Upon completion, learners earn a certificate that can be shared with their social networks.” 🤙

 

• Deluxe (NYS: DLX) announced a partnership with Dollar Bank (FDIC 32245; total assets $12.5B), the largest independent mutual bank in the U.S., to power merchant services capabilities for Dollar Banks business customers.  Big win for the Deluxe Team!!! 🏆

 

• Intranet Connections announce the broader market availability of IC 3.0, the next evolution of its digital workplace platform designed to support the governance, security, and operational needs of financial institutions, healthcare organizations, government agencies, and other regulated environments.

 

• Sturgis Bank & Trust Company (FDIC 28593; total assets $1B) selects MANTL (owned by Alkami) to transform its account opening experience for business and retail customers across all physical and digital banking channels.

 

• 👀 ICYMI…  There have been some interesting research reports lately:
  • The Federal Reserve Bank of New York released their Quarterly Report on Household Debt & Credit and is further supplemented by this Liberty Street Economics deep dive with a couple of interesting points:
    • Student Loan debt remained relatively flat, but the share of student loan balances past due increased to near pre-pandemic levels at just over 10%.  Worth noting is “the average borrower entering default is nearly 40 years old, was not past due on their student loans prior to the pandemic, and is more likely to live in the South.”
    • Regarding this default perspective, “there is uniformly more mass among older borrowers, especially those 50 and older.”
      • HOWEVER - Chart 14 in the Quarterly Report on Household Debt & Credit shows a decline in new flows into student loan delinquency, suggesting that the initial wave has crested.  We shall see…
    • Disclaimer - Note that Liberty Street Economics features insights and analysis from New York Fed economists and the views expressed are those of the authors, and do not necessarily reflect the position of the New York Fed or the Federal Reserve System.
  • The Federal Reserve Bank of Philadelphia published a report titled Older Adults and Banking Deserts stating 4.5M older Americans (65 and older) live in banking deserts or are at risk of losing their last remaining branch; and that number has grown 26% since 2019.

 

• Some personnel moves:
  • Payfinia names Keith Riddle CEO to drive their next phase of growth.
  • Marqeta appoints Lukasz Strozek as CTO.

 
 
Random Uncle Sean stuff:

• Not sure why this popped into my head, but does anyone else remember the show, Buck Rogers in the 25th Century (https://www.youtube.com/watch?v=KjAIt7usK7M) from 1979 – 1981?  One of my favorite shows when I was a kid – loved Twiggy!!!
• 🤔 Maybe a step in the right direction???  The Senate has adopted a resolution to withhold senators' pay during government shutdowns.  Unfortunately, the resolution only applies to the Senate (to take place after November’s election)…  But maybe it will catch on with the House. 🤷‍♂️ Now if we could only impose that to all of Congress to balance the budget (dreaming big)…
• Okay – let’s get to the Dad / Bad Jokes!!!
  • How do you save a dying pirate?  CP-ARRRRR!!! 🤠🏴‍☠️
  • How many boxes of Thin Mints do I need to eat before I start seeing results??? 😅
  • And lastly, some Uncle Sean definitions:
    • Claustrophobia (noun) [klaw-struh-foh-bee-uh]: a disproportionate fear of closed spaces.  Example: I’m going to the liquor store and I’m scared it might be closed. 😬😂
    • Iran (noun) [ahy-ran]: a new treadmill made by Apple. 😉
    • Foreplate (noun) [fawr-pleyt]: When you look up a restaurant’s menu before you go. 🤣

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 

​Happy Friday and HAPPY MOTHER’S DAY ❤️❤️❤️ to all the Mom’s 🙏!!!
 
Here is the Uncle Sean Update for 5/8/26 (subscribe here for free):
 
A quick economic update (because you know I am obsessed with macroeconomics 🤓):

• The BLS issued the April Jobs Report showing +155,000 jobs added (Dow Jones estimate was +55k) with unemployment holding steady at 4.3%.
  • Revisions…  March was revised up by +7K from +178K to +185K ; and February was revised down an additional -23K to a total of -156K.  You can see the detailed revision history here.
    • Per the release, “In April, health care added 37,000 jobs, in line with the average monthly gain of 32,000 over the prior 12 months. Over the month, job gains occurred in nursing and residential care facilities (+15,000) and home health care services (+11,000).”
    • Worth noting that average hourly earnings have increased 3.6% YoY…  Potentially pointing towards a somewhat challenging consumer picture when considering PCE inflation at 3.5% for March (Core PCE was 3.2%); and CPI for March was 3.3% (Core CPI was 2.6%)…
      • CNBC has a good summary.

 

• Looking forward…  April CPI report is expected next week on Tuesday, May 12.

 
Some big headlines around AI this week (I’m going to try to hit these in rapid-fire fashion):

• Anthropic announced the launch of 10 new AI agents for banks, insurers, and other companies designed for financial services.  Note the existing and new connectors in the blog post as well as Moody’s MCP
  app.

 

• FIS (NYSE: FIS) announced that it is working with Anthropic to bring agentic AI to banking beginning with the Financial Crimes AI Agent combining Claude's reasoning with FIS's banking data and regulatory infrastructure.
  • BMO and Amalgamated Bank will be among the first institutions to deploy the agent, with broader availability planned for H2 2026.

 

• In a speech (Artificial Intelligence in the Financial System), Federal Reserve Vice Chair for Supervision Michelle W. Bowman stated that the Financial Stability Board’s Standing Committee on Supervisory and Regulatory Cooperation, of which she is the chair, is working with the U.S. Treasury and the SEC on a report that will cover sound practices for AI adoption, use and innovation. A draft is set to be released in the third quarter.

 

• Meanwhile, the Cybersecurity and Infrastructure Security Agency (CISA) released guidance “CI Fortify | CISA” urging critical infrastructure operators to defend against disruptive cyberattacks with proactive isolation and recovery planning noting “constant intrusion attempts from nation-state cyber threat actors.”
  • In case you are wondering, here is the list of the 16 Critical Infrastructure Sectors | CISA.

 
And back to the rest of the Update:

• 🤔 This appears to be moving forward…  The SEC proposes amendments to permit optional semiannual reporting by public companies (form 10-S) as opposed to the existing quarterly (form 10-Q) reports.  “The proposing release will be published on SEC.gov and in the Federal Register. The public comment period will remain open until 60 days after the date of publication of the proposing release in the Federal Register.” (bold emphasis added by Uncle Sean)

 

• COCC announced a partnership with Digital Onboarding allowing COCC clients to gain access to Digital Onboarding’s turnkey engagement platform that drives early activation and product adoption beyond the initial account opening. 🤙

 

• 👉 CSI introduces its AI-powered Customer Intelligence Suite to help FI’s with more meaningful engagement with their consumer and business customers by using “AI-driven signals that synthesize data from core, digital banking, payments, deposit and loan origination, and other third-party sources to identify meaningful changes in a customer’s financial life.”  Check it out at Customer Intelligence Suite | CSI.

 

• Vine (a BHB Fund company) announced the launch of its AI Assistant within the Vine platform designed to help lenders analyze borrower documents, compare the loan package to bank policies, surface insights, and prepare robust credit memos – providing speed and accuracy in the entire loan workflow process (and aligned with the institutions lending standards empowering the banks to make informed decisions rather than letting technology make the decision for them).  Very nice!!!

 

• Stablecore (a BHB Fund company) makes headlines as the Tennessee Bankers Association Endorses Stablecore as Digital Asset Technology Provider. 👏

 

• Modak (family-focused financial platform) announced the launch of MoGold premium membership along with its parent debit card that has surpassed 200,000 accounts nationwide (deposit account and the Modak Visa® debit card are issued by Legend Bank, N.A.). 🙌
  • Uncle Sean is always a supporter of financial literacy for kids and young adults – family apps like this bring the conversation and education back to the home. 😊

 

• Blend Labs (NYSE: BLND) announced the launch of Autopilot MCP server giving authorized AI agents access to the full Blend platform.   

 

• Ncontracts announced the launch of Nquiry Ntelligence – “an AI-powered compliance intelligence platform purpose built to help financial organizations get fast, accurate, cited, auditable answers to complex regulatory questions in minutes.” 

 

• Intuit Credit Karma announced the launch of Credit Spark, a multi-stage credit building tool designed for the “roughly 17 million American adults are “credit invisible” or “thin file,” meaning they have no credit report whatsoever, or they have a credit file but not enough history to generate a valid credit score.”

 

• Plaid (recall their status as a consumer reporting agency (CRA)) announced the launch of  Plaid Cash Advance Index – “a risk solution built specifically for cash advance and earned wage access providers that surfaces repayment risk across a user’s full financial footprint” for cash flow credit decisioning as opposed to just a single linked bank account.

 

• Cedar Point Federal Credit Union (charter 5234; total assets $903M) selects Velera for debit and credit card processing services and support via “a phased rollout from late 2026 to early 2027.”

 

• Primeway Federal Credit Union (charter 2131; total assets $732M) selects Mahalo’s Thoughtful Banking® platform for digital banking and its close alignment with its existing core processor, Corelation Keystone.

 

• Summit Choice Credit Union (fka Fire Police City County FCU; charter 21593; total assets $209M) partners with InvestiFi to allow members to invest directly from their checking accounts through the credit union’s existing digital banking platform.

 
Some Risk Management updates:

• Unfortunately, we had our second bank failure of the year late last Friday as the Georgia Department of Banking and Finance closed Community Bank and Trust - West Georgia in La Grange, GA (FDIC 25796; total assets $288M; total deposits $268M).  The bank had a FedFis Rating© of 4.64 as of the Dec 2025 QTR placing them in the lowest percentile of all banks.  You can read more about this in our FedFis Bank Failure Alert notice that includes additional insights.
• Credit to Jason Mikula with this excellent and detailed LinkedIn post revealing the Ch. 7 Bankruptcy of fintech platform Parker (SMB business payments, banking, and CC offering) and their abrupt shutdown this week.

 
A few FinTech funding headlines:

• InstaSwitch (white-labeled and embedded business account switching solution) $4.7M in Seed Round funding.
• Rumor mill…  Ramp is allegedly looking to raise $750M at a $40B valuation according to The Wall Street Journal.

 
 
Random Uncle Sean stuff:

• Upon review, it appears that Jeff Bezos is NOT selling his super-yacht…  That’s too bad as I was going to see if Tanner Mayo wanted to go in halves with me for the most epic catfishing boat ever (do you think ole Jeff would take a check? 😬😉)!!! 🤠
• I seized the rare opportunity to take last Monday afternoon off (I know – don’t tell my Boss 😊)!!!  Aunt Patty and I went to Dangerfield State Park here in deep East Texas and enjoyed a nice and easy 2.5 mile hike around Little Pine Lake – WOW such a beautiful and peaceful place!!!  We highly recommend visiting for a few hours or an entire weekend.  We even stopped at Sonic for some ice cream on our way back home (negating the benefit of exercise, but it was so worth it). 🍦
• And here are the Dad / Bad Jokes to end the week:
  • If you ever get a bladder infection…  Urine trouble… 🤦‍♂️😅
  • Turns out it’s true that exercise helps with decision making.  I went for a run at 5 AM this morning and decided never to do that again! 🏃‍♂️‍➡️
  • Why isn’t the bedroom called the restroom??? 🤷‍♂️
  • It’s pointless to use fractions instead of decimals… 😉
  • In honor of May 4th (Star Wars Day)…  We were watching The Empire Strikes Back scene where Han Solo placed Luke inside a dead tauntaun to prevent him from dying of hypothermia and Aunt Patty asked how warm it could actually be inside that animal… To which I replied…  “Lukewarm.”  😂🤣

 
 
“The world needs good people - be one of them.”
 
Have a ❤️❤️❤️ GREAT MOTHER’S DAY WEEKEND ❤️❤️❤️ and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 
 

The second bank failure of 2026…
 
On 5/1/26, the Georgia Department of Banking and Finance closed Community Bank and Trust – West Georgia in La Grange, GA (FDIC 25796; total assets $288M; total deposits $268M as of the 12/31/25 call report) and appointed the FDIC as receiver.  Anchor Bank in Palm Beach Gardens, FL (FDIC 57931; total assets $607M) to assume substantially all insured deposits and acquire certain assets of Community Bank and Trust - West Georgia.
 

• The FDIC estimates that the failure will cost its Deposit Insurance Fund approximately $97 million.
• Approximately $27 million of the deposits exceeded FDIC insurance limits.
• Source - Anchor Bank Assumes Insured Deposits of Community Bank and Trust - West Georgia, LaGrange, Georgia | FDIC.gov

 
 
Additional FedFis insights as of the 12/31/25 call report:

• Community Bank and Trust – West Georgia had a FedFis Rating© of 4.64 for the Dec 2025 QTR placing them in the lowest percentile of all US banks (and 3.68 YTD Dec 2025 placing them in the bottom 3% of all US banks).  The bank has struggled with Assets Quality issues for the last two years.
  • The $97M estimated cost to the DIF is substantial considering the asset size of the bank at $288M (includes $32M in cash and $23M in AFS securities).  For reference, the Metropolitan Capital Bank & Trust failure earlier this year had an estimated cost to the DIF of $19.7M with total assets of $261M.
• The bank’s $191M loan portfolio consists primarily of $84M in Commercial & Industrial loans (44% of total loans) with $65M of that being CRE (34% of total loans).
  • Total nonperforming loans of $19.4M with an Allowance for LLL of only $4.7M creating a past due loans / loan loss allowance ratio of 536.6%.  This is after net charge-offs of $10M YTD.
• Community Bank and Trust – West Georgia had tangible equity capital of $12.2M at 12/31/25 with a Texas Ratio of 122.81% and an Adjusted Texas Ratio of 96.55% (taking into account certain government guaranteed loans).

 
It is also worth mentioning that the holding company (Community Bankshares, Inc.) had recently received a cease-and-desist order dated April 14 from the Federal Reserve related to the BHC’s “growth strategy focused on purchasing and originating United States Department of Agriculture and Small Business Administration loans through certain nonbank subsidiaries requiring significant financial and managerial resources and support from Bankshares.”

• Reference - https://www.federalreserve.gov/newsevents/pressreleases/files/enf20260416a1.pdf

 
That nonbank subsidiary appears to be Pheonix Lender Services, LLC per the NIC and confirmed through this press release in November 2025 - https://www.globenewswire.com/news-release/2025/11/04/3180292/0/en/phoenix-lender-services-facilitates-record-325-million-in-sba-and-usda-loan-closings-in-first-full-year-of-operations.html.
 
 
Sean Mayo
Sr. VP, US Financial Institutions Group
[email protected]

Happy Friday!!!
 
Welcome to May (wait, already?)!!!  Here is the Uncle Sean Update for 5/1/26 (subscribe here for free – all the cool kids are doing it 😊):
 

• 💥 This week brings a bombshell announcement in the BaaS Sponsor Bank space as Coastal Community Bank (CCB; FDIC 34403; total assets $5.7B) has entered into a non-binding term sheet with Evolve Bank & Trust (FDIC 1299; total assets $1.2B) to acquire the assets and deposits of Evolve’s diverse set of banking-as-a-service programs.  Here is the CCB 8-K filing.
  • Recall where the embattled Evolve Bank & Trust has been under a Federal Reserve enforcement action related to deficiencies in the risk management of its fintech program; and was completely enthralled in unsuccessful ledger reconciliation efforts of missing funds related to the Synapse middleware bankruptcy saga to which the CFPB is now set to pay $46M to Synapse victims.

 

• It’s Fed Week!!!  The FOMC (as expected) again voted to keep interest rates at their current range of 3.5% - 3.75% noting “developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.”  Although rates didn’t change, that’s not to say it was uneventful…  Here are some key takeaways that caught my attention:
  • The decision was far from unanimous with an 8-4 vote.  Dissenters were also split with Miran voting to lower rates by ¼ point; and Hammack, Kashkari, and Logan who supported maintaining the current rates, but not in favor of the easing bias within the statement.
    • Looks like incoming Chairman Warsh will lead a diverse panel in a challenging economic time. 
  • After his term as Chair ends on May 15, Chairman Powell to stay on as governor for “a period of time, to be determined.” Transcript of Chair Powell’s Press Conference - April 29, 2026
  • The Implementation Note issued April 29, 2026 notes continued rebalancing of holdings from longer dated securities to shorter dated Treasury Bills (3 years or less).
  • You can watch the Press Conference video here (53 minutes) - https://www.youtube.com/watch?v=UR2yFg--1jY

 

• 👀 De Novo watch… This week, Mercury receives conditional OCC approval to establish Mercury Bank, N.A. 👏
  • Mercury first announced its intent to pursue a national bank charter in December 2025. The application was submitted alongside an application for federal deposit insurance with the FDIC. Later, Mercury Technologies, Inc. will separately file an application with the Federal Reserve to become a bank holding company. Mercury Bank, N.A. will be headquartered in Utah.

 

• And of course some economic data this week:
  • The BEA announced the first estimate of 1Q2026 GDP came in at 2.0% (4Q2025 was 0.5%) noting a significant surge in business spending on equipment (specifically information processing equipment and computers) and intellectual property products (software), which was heavily driven by the ongoing AI data center build-out.
    • Unfortunately, our debt to GDP ratio has now exceeded 100% - about 2X what it has historically been.
  • Meanwhile inflation has started to pick up lead by energy costs (hello gasoline 😬)…  March 2026 PCE came in at 3.5% YoY (prior month was 2.8%) while Core PCE increased to 3.2% (prior month was 3.0%) - all well above the Fed target of 2%.

 

• Another credit union acquisition of a bank…  Interra Credit Union (Charter 82794; total assets $2B) to acquire The Hicksville Bank (FDIC 16370; total assets $227M).  This is the 4th announced (whole-bank transaction) CU acquisition of a bank so far in 2026 (source: FedFis - FinTech | Banking | Data).

 

• While on the topic of acquisitions… OppFi Inc. (NYSE: OPFI) to acquire BNC National Bank (FDIC 57197; total assets $1.1B) in a cash and stock transaction valued at approximately $130M.

 

• And more acquisition updates…  Barclays Bank Delaware (FDIC 57203; total assets $46.6B) completes its acquisition of Best Egg, the direct-to-consumer personal loan origination platform (initial acquisition announcement was 10/28/25).  The acquired business will continue to operate under the "Best Egg" brand and managed by Barclays US Consumer Bank.

 

• Qolo announced an expanded partnership with KeyBank (FDIC 17534; total assets $186B) with the launch of Key Virtual Card (KeyVC) powered by Qolo, a new virtual commercial card program that helps businesses more easily manage and track payments directly within Key’s Virtual Account Management platform (KeyVAM).

 

• On the fraud side:
  • FedNOW is announcing a network intelligence API enabling users to access receiver account-level data seen over the instant payment network when they receive a transaction request.  The data obtained from the API integration is meant to complement a financial institution’s existing data that’s already collected as part of its risk assessment process. The API will be part of the Federal Reserve Financial Service fraud and risk mitigation tools.
  • Q2 (NYSE: QTWO) announced User Activity Monitoring and Restricted Entitlements Mode – two new capabilities that combine AI-enabled detection with real-time response, helping financial institutions detect and stop account takeover fraud.

 

• Nacha announced they will be increasing same-day ACH per payment limit to $10M 🚀 effective Sept 17, 2027.

 

• More headlines focused on SME business banking 🔥…  BMO (specifically BMO Bank N.A. here in the US; FDIC 16571) announced the national U.S. rollout of its simplified Online Banking for Business (OLBB) platform.  The new platform is available through BMO's BusinessWorks U.S. pricing bundle, a turnkey banking solution that is designed with simplification and ease of understanding for SMEs, Emerging Middle Market, and business banking clients.

 

• FIS (NYSE: FIS) and a consortium of leading US financial institutions to build their own digital tokenized money network.  Dubbed  Project Keystone - a bank-owned and bank-administered network for digital money to be built on regulated deposits. 

 

• Credit One Bank (FDIC 25620; total assets $2.2B) partners with Bright Money to embed Credit One Bank credit card offering enabling over 1 million Bright Money users with access to personalized credit card solutions.

 

• The new Aven Bitcoin Visa Card (credit card issued by Coastal Community Bank) will offer a bitcoin-backed line of credit up to $1 million 💰 featuring fixed-rate, fixed-term loans of up to 10 years at a 7.99% APR.

 

• Disbo (modern payments platform for law firms and medical offices) will use Modern Treasury’s payment service provider (PSP) to build its new Med-Legal Payment Network for digital disbursements and direct deposits, replacing check-heavy workflows with modern digital infrastructure.  Check out what Disbo is building here - Disbo — Your Trust Account Deserves Better Software.

 

• 👀 Walmart’s OnePay has partnered with Tempo (blockchain) to focus on stablecoin infrastructure development to power OnePay stablecoin payouts and instant account funding for OnePay’s banking product.

 

• Notable FinTech funding for the week:
  • Kashable (employer sponsored employee financial wellness program) raised $60M in Series C funding round stating that valuation “had tripled since its January 2024 Series B raise.”
  • Doc2Doc (financial services platform for healthcare providers) closed a credit facility of up to $150M to expand Doc2Doc’s loan origination capacity, improve its cost of funds, and accelerate profitable growth.

 
 
Random Uncle Sean stuff:

• 👉 Another PSA to remind everyone that next week is National Small Business Week (May 3 through May 9) – definitely check out this FREE virtual summit by our friends at the SBA - Virtual summit | U.S. Small Business Administration. 🤙
• Here they are – the Dad / Bad Jokes for the week!!!
  • I found myself face down in the gutter once…  I just didn’t expect everyone to keep bowling! 🤠
  • At work they call me “The Computer” not because I’m smart, but because I go to sleep if left unattended for 15 minutes!!! 😄😴
  • 🙏 An ancient philosopher once said, “One does not simply become a master of karate.  First, you must accidentally walk into a spider web at night!” 😲😅
  • Don’t kick your kids out at 18.  Let them live at home but charge them $600/month.  Take that rent and put it into an account that you don’t tell them about.  Then when they finally move out, go buy that Porsche you’ve always wanted!!!! 😂🤣
    • Be sure to follow Uncle Sean for more financial planning advice! 😉

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 

Happy Friday!!!
 
Here is the Uncle Sean Update for 4/24/26 (subscribe here for free to join approximately 18,000 of your peers in receiving the Uncle Sean Update straight to your inbox every week):
 

• The Justice Department drops its criminal investigation into the Federal Reserve and Chairman Jerome Powell likely clearing the way for Kevin Warsh confirmation as incoming Fed Chair (Powell’s term as Fed Chair ends on May 15).

 

• And some good news for community banks as the FDIC’s Final Rule on Revisions to the Community Bank Leverage Ratio (CBLR) Framework reduces the CBLR to 8% and extends the grace period allowing for more community banks to qualify for the CBLR framework.

 

• Nacha flexes 💪 this week as they reported continued strong growth in the first quarter of 2026, noting:
  • The ACH Network’s payments volume grew 4.8% over last year to 8.9B transactions with a value of $24.1 Trillion 💰💰💰 (an increase of 9.3% over last year).
    • Same-day ACH payments surged 23.6% year over year to 403M transactions for the quarter with a value of $1.1T (an increase of 22.1% over last year).
    • B2B payment volume grew 9.4% to 2.1B transactions.

 

• Forte Bank (FDIC 5297; total assets $432M) selects CSI NuPoint for core processing along with Apiture (owned by CSI) for digital banking and loan origination.
  • 👏 That’s a strong trifecta win for CSI (core, online, and mobile) – particularly impressive as they are displacing an incumbent vendor that had a core strategic position (same vendor for core, online, and mobile)!!!

 

• Stablecore (a BHB Fund company) announced a strategic partnership with the Maine Bankers Association where Stablecore will serve as a preferred technology provider for the Maine Bankers Association’s members, enabling them to offer stablecoin and digital asset products to remain competitive in the market and provide additional value to current and new customers.  👍

 

• Meow (global business banking fintech – bank partners are Cross River, Grasshopper, and CFSB via Airwallex card) partners with BVNK to “power Meow’s stablecoin and crypto payments globally, adding new currencies and providing access to the Swift network, enabling customers to move seamlessly between fiat and digital assets, reducing costs and delays in cross-border payments.”
  • Recall last month (March 17) where Mastercard to acquire BVNK to connect on-chain payments and fiat rails.

 

• 👉 More de novo activity!!!  A pair of OCC de novo applications to create FDIC insured national banks:
  • Mission Lane (credit card fintech) applied with the OCC and FDIC to establish Mission Lane Bank, a credit card bank.
  • Organizers have filed with the OCC and FDIC to establish OpenReserve Bank, National Association.

 

• Some name changes this week:
  • LendingClub Bank (FDIC 32551, total assets $11.5B) is changing its name Happen Bank with plans to launch the new name by July 2026.
  • First-Citizens Bank &Trust Company (FDIC 11063; total assets $230B) aligning its brand names in Q4 2026.  “Silicon Valley Bank (SVB), a division of First Citizens Bank, will rebrand as First Citizens Innovation Banking and First Citizens Fund Banking. CIT Commercial Services, a leading provider of working capital financing, and the Silicon Valley Bank Wine division will rebrand as First Citizens Bank.”

 

• FinWise Bank (FDIC 35323; total assets $967M) announced a sponsorship agreement with Vera, Inc. to launch an unsecured consumer credit card program (using Zeta as card processor) targeting prime and near-prime US customers.

 

• Walmart’s OnePay announced the launch of OnePay Builder Card, a credit building card (a secured open-loop Mastercard charge card) with no credit check, security deposit, fees or interest.
  • “Fully integrated into the OnePay app and connected to a customer’s Cash account, the Builder Card works differently and is designed to simplify credit building. Customers make purchases based on their available Spend balance, with funds set aside automatically to cover those transactions. Payments can also be handled automatically, helping customers stay on track without the risk of missed payments. Each month, OnePay reports positive payment activity to all three major credit bureaus, supporting customers as they build their credit history over time.”

 

• So this is only in the UK right now, but I can’t help but wonder how long before this comes to the US…  Visa and TikTok (yep) launch new 'Creator Card' debit card and business account.

 

• Focus Bank (FDIC 1426; total assets $880M) implements Bond.AI's Autopilot Profit module to generate real-time customer insights and personalized product recommendations from transaction data using AI.
  • Check out Bond.AI’s Autopilot Analyst and their Autopilot Profit modules built specifically for banks and credit unions.

 

• PECU (charter 67428; total assets $437M) selects CheckAlt's LoanPay solution to streamline loan payment processing by automating key workflows with a clean interface and flexible payment options.

 

• 🎉 BIG win for InvestiFi as Pentagon Federal Credit Union (PenFed; charter 227; total assets $29B), one of the largest CU’s in the nation, has partnered with InvestiFi to bring embedded investing to its 2.8 million members.

 

• OnPath Federal Credit Union (charter 14692; total assets $1.2B) has launched an in-house BNPL solution (powered by equipifi) fully integrated within OnPath’s online and mobile banking platforms.

 

• Southwest Louisiana Credit Union (charter 62756; total assets $178M) launches family financial literacy partnership with My First Nest Egg.

 

• 👀 ICYMI…  The FBI’s Internet Crime Compliance Center (IC3) published their 2025 Annual Report on cyber-enabled crime noting losses topped $20B in 2025 (up substantially from $4.2B in 2020 😲) with investment-related fraud the largest component of losses and the 60+ age group being the most impacted.

 

• 👉 Some good macro-level info here if you like to geek out like me 😊… The FDIC published their 2026 Risk Review which is an overview of 2025 economic and financial market conditions as well as key risks to banks.  Couple of key points:
  • Uninsured deposits drove industry deposit growth.
  • Unrealized losses on securities are still a sticky problem, but declining (a steepening yield curve with long-term rates remaining relatively steady).
  • NDFI loan growth was (still) the fastest growing loan segment by far (35.2% YoY growth for 2025); and heavily concentrated at the largest banks (with NDFI credit quality remaining favorable). 
    • 86% of all NDFI loan balance was held by banks with $100B or more in total assets; and ten of those banks held about 66% of total NDFI loans.
    • At the very largest institutions (those with assets of more than $250B), NDFI loans have surged from just 1.2% of total loans in 2010 to 15.6% as of 4Q2025.

 

• Some personnel moves:
  • Congratulations to community banker Trey Maust as the new Chief Innovation Officer for the FDIC!!!
  • Fiserv appoints Vishal Dalal as Chief Product Officer ( Financial Solutions ) per this LinkedIn post.

 
 
Random Uncle Sean stuff:

• IRS PSA (note that Uncle Sean is not a tax attorney; and this does not constitute advice – always do your own diligence 😊)…  Check out the final regulations for workers who receive tips - Treasury, IRS issue final regulations listing occupations where workers customarily and regularly receive tips under the One, Big, Beautiful Bill | Internal Revenue Service.  Note the definition of “qualified tips” excludes automatic service charges for large parties:
  • “Qualified tips must be paid voluntarily by the customer and not be subject to negotiation. Qualified tips do not include service charges unless the customer has an option to disregard or modify the service charge.  For instance, in the case of a restaurant that imposes an automatic 18% service charge for large parties and distributes that amount to waiters, bussers and kitchen staff, if the charge is added with no option for the customer to disregard or modify it, the amounts distributed to the workers from this service charge are not qualified tips.”
    • May need to double check that restaurant POS earnings code so payroll can get those W2’s right (taxable tips versus non-taxable tips)!!! 🤔
• 🤠 You made it!!!  Here are the Dad / Bad Jokes for the week:
  • Have you heard about the new corduroy pillows?  They’re making headlines… 😉😅
  • My neighbor has two Dobermans named Rolex and Timex…  They’re watch dogs… 🐶😄
  • Back in High School I was so excited to become a Senior…  I’m not too excited now… 👴😬
  • Allegedly, Iran rejected an initial proposal that gave them the Dallas Cowboys… 😂🤣
  • Cinco de Mayo lands on Taco Tuesday this year.  The stars have aligned… THIS is what we have been training for, people!!! 🙌🎉🌮

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 

​

​Happy Friday!!!
 
Here is the Uncle Sean Update for 4/17/26 (subscribe here for free):
 

• Finosec gets the flex of the week 💪 with their announcement that more than 100 ICBA member banks are now using the Finosec platform to strengthen and modernize their cybersecurity governance programs. 🚀

 

• 👉 Cable (automated compliance testing platform for banks to test their own controls AND their third-party fintech partners) has been acquired by Synctera.  “Cable will continue to exist as a stand-alone product, powered by Synctera’s deep pockets, talented team and impressive list of bank and fintech customers.”

 

• Speaking of compliance…  By now you have probably heard about the proposed rule to “fundamentally reform”  AML / CFT programs for financial institutions (joint proposal from the OCC, FDIC, and NCUA; and aligned with FinCEN’s proposed rule).  If you haven’t heard about it, this summary update by international law firm Perkins Coie is an excellent and quick read to get up to speed - Federal Banking Agencies and FinCEN Hit Reset on AML/CFT: Implications for Financial Institutions | Perkins Coie.

 

• 👏 And another De Novo!!!  Shoutout to Private Bank & Trust in Gainesville, Ga., having received conditional approval from the FDIC!!!

 

• SoFi Bank, N.A. (FDIC 26881; total assets $46.6B) now offers instant bank transfers via the FedNow Service powered by its subsidiary, Galileo Financial Technologies.  The new service allows both send and receive payments at any time of day including weekends (24/7).

 

• Pinwheel is now the direct deposit launch partner for Robinhood Banking citing Pinwheel’s PreMatch technology.

 

• 🎉 CSI logs another win as Wayne County Bank (FDIC 9168; total assets $579M) selects the Apiture Digital Banking Platform (now owned by CSI) to power a “fully featured, scalable solution that supports its business banking growth goals while delivering the modern experience today’s account holders expect.”

 

• Vine Financial (a BHB Fund company) announced that PrimeWay Federal Credit Union (charter 2131; total assets $724M) is the first CU to implement Vine's AI-powered commercial lending platform. 
  • “PrimeWay is leading a shift we expect to see across more credit unions,” said David Eads, CEO and co-founder of Vine. “There is a significant opportunity to better serve business members, and commercial lending is one of the most impactful ways to support local businesses and drive growth.”  Congrats!!! 🎉

 

• FinGoal (another BHB Fund company) and Strum Platform have partnered together to deliver deeper member personalization for Credit Unions and Banks by integrating FinGoal’s transaction enrichment engine and personalized offer capabilities directly into Strum Platform’s Customer Data Platform (CDP - lifestyle segmentation, profitability modeling, and marketing automation tools), giving financial institutions a more complete and actionable view to power each member’s financial life and deepen wallet share.  Nice!!! 👏

 

• CTBC Bank USA (FDIC 19416; total assets $5.6B) selects Narmi for strategic digital banking initiatives (digital account opening, consumer and business digital banking) as part of a broader phased modernization effort at the bank.

 

• 🚀 Aspire formally launches in the US to modernize the finance stack for US companies doing business internationally.  To further support the complex needs of global scaling, Aspire has also deepened its integration with Deel, the global leader in HR and payroll infrastructure.
  • Per the PR, “Aspire’s financial stack seamlessly integrates FX, cards, yield and credit with essential business tools like accounting, payroll and spend management across 16 currencies, supported by more than 10 international licenses across Singapore, Hong Kong, Australia, Europe, the United States and Canada.”
  • “To lead the U.S. expansion, Aspire has appointed David Harris, formerly with Revolut, as U.S. Country Head. Harris joins a global leadership team that includes veterans from Wise and Revolut, all supporting Aspire’s mission to scale across 30+ markets.”

 

• Airwallex (global payments platform) is launching a point-of-sale product that allows businesses to accept in-person payments in multiple countries via a single platform, without onboarding local vendors in every market.  This TechCrunch article is a great summary.

 

• OpenAI (ChatGPT) has acquired Hiro, the AI-based PFM platform.  This is OpenAI’s second fintech purchase, following its acquisition of personal finance app Roi in October per this Banking Dive article.

 

• American Express (NYSE: AXP) has acquired Hypercard, an agentic expense management company, adding to Amex’s AI expertise and capabilities across its commercial services business.

 

• WISCUB Service Center (WSC, a Wisconsin-based CUSO) partners with CheckAlt to offer CheckAlt’s Electronic Lockbox and Branch & Teller Capture solutions to its network of credit unions to help reduce manual processing, improve operational visibility, and enable faster, more efficient payment handling. 

 

• nbkc bank (FDIC 35014; total assets $1.3B) announced the purchase of a new headquarters building at 7400 W 110th Street (110th Street and Metcalf Avenue) in Overland Park, Kansas.

 

• 👀 So many ways this hydrologic risk impacts Ag Banks, Commercial Banks, and Community Banks in the Southwest and Mountain West regions…  Keeping an eye on the deepening Colorado River crisis as the seven states (Upper Basin: Colorado, Utah, Wyoming, New Mexico; and Lower Basin: Arizona, Nevada, California) have been unable to work a deal; and the Trump administration has warned that if the states can’t strike a deal, they may step in and make a decision nobody likes… 🙏

 

• impactFI Advisors hires Christian Ruppe as Partner and Chief Strategy Officer.  Congrats, Christian – give us a call if you need anything!!!

 

• Notable FinTech funding for the week:
  • Slash raised $100M in Series C funding round at a valuation of $1.4B. 🦄
  • Wealth.com raised $65M in Series B round following “664% year-over-year growth.”
  • Ratio raised $15.8M venture financing round and secured a $100M lending facility citing “349% year-over-year ARR growth, following 800% growth in 2024.”
  • Debbie raised $5.3M Seed round and launched Rewards 2.0, a cash rewards platform structured around building savings and reducing debt rather than incentivizing consumer spending.

 
 
Random Uncle Sean stuff:

• Bird watch !!!  The often vocal Summer Tanager bird has returned to East Texas from its winter habitat in Mexico!  While having a mixed diet, they are also known as specialists at catching wasps and bees in mid-flight taking them back to a perch where it beats them against a branch until they die.  It then wipes them on the branch to remove the stinger and eats them. 😲 Okay then!!!
• I ran across this quote while reading Young Money by Jack Raines (subscribe at https://www.youngmoney.co/).  And yes - I’m painfully aware of the irony of being way too “seasoned” to be reading “young money” LOL!  In promoting his upcoming book, Jack mentions:
  • In the last chapter of his memoir, Norm Macdonald warned us that “The only thing an old man can tell a young man is that it goes fast, real fast, and if you’re not careful it’s too late. Of course, the young man will never understand this truth.”
    • That hits heavy!!!
• You made it!!!  Here are the Dad / Bad Jokes to wrap up the week:
  • My mind still thinks I’m 25…  My body thinks my mind is an idiot! 🙃😅
  • What do you call the policewoman that does the chalk outlines at a crime scene?  Tracey… 👮‍♀️😉
  • I’m going to be in serious trouble if my coworkers ever find out that I don’t actually have Tourette’s… 😬🤠
  • On a first date... Her: “Do you like dogs or cats better?” Him (flipping through the menu): “What page are you on?” 🤣

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.
 
 

​Happy Friday!!!
 
WOW there is a lot going on, so let’s jump right in!  Here is the Uncle Sean Update for 4/10/26 (subscribe here for free):
 

• 👀 ICYMI…  Federal Reserve Chairman Jerome Powell and Treasury Secretary Scott Bessent called an urgent meeting this week with bank CEO’s to warn of cyber risks associated with Anthropic's latest AI model (Mythos).  Anthropic has launched Project Glasswing and purposedly limited the Claude Mythos model release to allow major tech firms and banks (critical software infrastructure) to use the model to scan and secure both first-party and open-source systems.
  • Anthropic said the model is capable of identifying and exploiting weaknesses across every major operating system and every major web browser.  “The fallout—for economies, public safety, and national security—could be severe. Project Glasswing is an urgent attempt to put these capabilities to work for defensive purposes.”  Yikes!! 😬

 

• Quite a bit of news on the economic front:
  • The BLS came out with a strong 💪 March Jobs Report showing +178,000 jobs added (Dow Jones estimate was +59K) with unemployment ticking slightly lower at 4.3% (but that was primarily driven by a sharp reduction in the labor force).
    • January was revised up by 34,000, from +126,000 to +160,000, and the change for February was revised down by 41,000, from -92,000 to -133,000 (revision history can be found here).
      • If you have been following some of my presentations recently, you will not be surprised to see that healthcare is leading the job growth (the other leg of the K-shaped economy – demographic concentration of an aging population).
  • The BEA released the Feb PCE Report (the Fed’s preferred measure of inflation) showing 2.8% headline inflation (estimate was 2.6%) with Core PCE hitting 3.0% (as expected); and well above the Fed long-range target of 2%.
  • The BLS March CPI Report came in smoking hot 🔥as expected at 3.3% headline rate (Feb was 2.4%) driven by a surge in energy costs of 10.9% (the largest monthly increase since Sept 2005) with gasoline spiking by 21.2% (the largest monthly increase since the series was first published in 1967).  Core CPI at 2.6% was much more reasonable (last month was 2.5%).  CNBC has a good summary.
  • And Final 4Q GDP (third and final estimate) was revised down by 0.2 percentage points to 0.5% (first estimate was 1.4%, second estimate was 0.7%).  Recall the BEA estimate that the government shutdown likely resulted in a subtraction of “about 1.0 percentage point from real GDP growth in the fourth quarter.”

 

• Shout-out to my friends at Acceleron 🫶 as they announced their new partnership with Monex US Division bringing “Monex's robust payment infrastructure into the Acceleron's correspondent banking ecosystem, giving financial institutions new capabilities for sending money internationally and managing inbound wires with greater efficiency.” 🚀
  • I may be biased as I know the good folks over at Acceleron pretty well (and yes, they are all awesome), but all community banks need to check out what Acceleron Bank (in formation) is doing to automate international wire processes and grow non-interest income at your bank; all in a hyper-compliant manner (one of their many strengths).  And tell them Uncle Sean sent you! 😊

 

• And a high-five 🤙 to my friends at OMNICOMMANDER (more great people) as they expand their relationship with their first international client, AffinityPlus Credit Union (headquartered in Bridgetown, Barbados), to launch CHATCOMMANDER to “provide real-time support to website visitors through OMNICOMMANDER’s team of trained live chat agents. Acting as an extension of the credit union’s staff, these agents assist visitors with questions, guide them to the right products and services, and help create a seamless digital member experience.”
  • Check out the Affinity Plus website here - https://affinityplusbb.com/.

 

• The US Treasury selects BNY to manage Trump Accounts with Robinhood to serve as brokerage and initial trustee of the accounts.  Trump Accounts are supposed to be live by July 4th.
  • This IRS publication (IR-2026-42, March 31, 2026) has more info if you need it - 4 million children have been signed up for Trump Accounts with 1 million claiming the $1,000 pilot program contribution | Internal Revenue Service.

 

• 👉 Check out Encore Bank (FDIC 34562; total assets $3.6B) as they announced the launch of Encore Embedded Finance for commercial clients, powered by Koxa.
  • Dubbed ERP Banking, it allows commercial clients to access banking services directly from their enterprise resource planning (ERP) and accounting systems, including Sage Intacct, Workday, Microsoft Dynamics Business Central and NetSuite, with additional platform integrations coming soon.  Outstanding!!! 🎉

 

• 👀 Another FI goes to an “all-digital” strategy…  This week, Intercredit Bank (FDIC 25258; total assets $1.6B) in Florida announced it will close its branches and transition to a 100% digital banking model under its Pibank direct digital bank brand.
  • Recall just a couple of weeks ago where VersaBank (Nasdaq: VBNK) has agreed to sell its only retail bank branch to Stearns Bank National Association to focus on their “…highly efficient branchless, partner-based, digital banking model..”

 

• 💥 Nymbus announced the launch of the Nymbus MCP Server purpose-made for core banking; enabling banks and credit unions a standardized, controlled way to connect AI assistants directly to front-office workflows.  The Nymbus MCP Server is available as part of the Nymbus Banking Platform.

 

• Giving a virtual fist-bump 👊 to Portrait Bank for receiving conditional de novo approvals from both the FDIC and the State of Florida Office of Financial Regulation!!!

 

• State Employees’ Credit Union (charter 66310; total assets $58B) selects Engage fi as its strategic partner for a multi-year engagement spanning technology, operations, and enterprise transformation. 👏

 

• InvestiFi hits a couple of wins this week (and is also part of the Velera announcement below):
  • Heritage Valley Federal Credit Union (charter 303; total assets $130M) selects InvestiFi's digital investing tools and educational resources for its members.
  • Freedom Bank of Virginia (FDIC 57184; total assets $1B) selects InvestiFi to enable to bank’s clients to invest from their checking accounts and access robust financial education resources, all within their pre-existing banking environment.

 

• Tyfone also has a pair of announcements:
  • O Bee Credit Union (charter 60059; total assets $652M) selects Tyfone’s nFinia® Digital Banking Platform for both retail and commercial members.
  • Metro Credit Union (charter 66364; total assets $3.3B)  Tyfone's nFinia® Digital Banking Platform citing “nFinia’s flexibility, faster payments capabilities, open banking architecture and scalable security as the decisive factors in its decision.”

 

• My First Nest Egg get’s in on the 2fer action (Uncle Sean is a HUGE fan of early financial literacy programs ❤️):
  • Reliant Credit Union (charter 20258; total assets $742M) launches family financial education partnership with My First Nest Egg to help children build strong money habits early.
  • North Alabama Educators Credit Union (charter 60500; total assets $140M) partners with My First Nest Egg to provide free, age-appropriate tools that make building healthy financial skills simple—at home, in classrooms, and throughout North Alabama.

 

• And Velera (payments CUSO) also has a couple of PR’s:
  • River Valley Credit Union (charter 97109; total assets $492M) selects Velera for debit and credit card processing.
  • Velera enhanced its Fintech Engagement Program introducing an inaugural cohort of six fintech partners offering exclusive benefits, such as discounted pricing or waived fees, to Velera credit unions.  The new group includes Coverbase (AI-native third-party risk & procurement platform), InvestiFi (integrated digital investing platform), Larky (proactive account holder engagement), Spiral (personalized savings and giving that grow deposits), Swaystack (gamified onboarding and engagement), and Union Credit (embedded lending marketplace).

 

• Speaking of Velera…  equipifi announced a partnership with Velera to enable Velera’s credit union clients to launch their own in-house debit BNPL products through equipifi and provide purchase financing capabilities directly within their checking accounts, debit card programs, and digital banking apps. 🚀

 

• Cash App (owned by Block) adds BNPL for P2P transfers for a 7.5% fee for when you really need to pay your buddy back, but you just don’t have the coin! 😊

 

• Luana Savings Bank (FDIC 253; total assets $2.2B) selects nCino to enhance its lending capabilities by deploying nCino’s Commercial Lending and Agriculture Lending solutions.

 

• Monzo exits the US (again) citing a strategic decision to focus on its core markets as it looks to deepen capabilities and accelerate growth across the UK and Europe.

 

• Mercury leans into payroll with their acquisition of Central, an AI-native payroll and benefits platform designed for startups.

 

• Granite State Credit Union (charter 63272; total assets $743M) selects Lumin Digital for its cloud-native digital banking platform.

 

• Washington Trust Bank (FDIC 1281; total assets $10.7B) selects Deluxe to support its merchant services program.

 

• Quite a few notable personnel moves recently:
  • CSI adds Chris Petersen as SVP Large Financial Institutions per this LinkedIn post.
  • nCino adds Keith Kettell as Chief Revenue Officer.
  • Fiserv appoints Adam Hyde as COO of Merchant Solutions.
  • Nymbus selects Aimee Ford as Chief Revenue Officer.
  • PayPal brings in Luke Flinders as Chief Compliance Officer following their application to form PayPal Bank (Utah ILC).
  • Unit 21 promotes its founding engineer Tyler Allen as CEO.
  • Sardine appoints Mike Lemberger as COO.
  • Airwallex names Carolyn Renzin as Chief Regulatory and Compliance Officer.

 

• Notable FinTech funding:
  • Cross River Bank’s holding company (CRB Group, Inc.) raised $50M common equity capital raise to fuel expansion across AI, crypto, and embedded finance.
  • OpenFX raised $94M in Series A funding round (HUGE for a series A).
  • b1BANK’s holding company (Business First Bancshares, Inc.) raised $85M in capital to retire approximately $67M in existing subordinated notes and provide additional capital support for b1BANK.
  • Pipe (embedded finance platform for small business financing) raised $16M in capital funding.

 
 
Random Uncle Sean stuff:

• If you haven’t already, this is the last weekend to get your taxes filed without an extension…  Okay – that note was really just for me! 😬😊
• Definitely take a few minutes and check out the Artemis II Multimedia: Crew Photos, Videos and Mission Highlights – those pics are amazing!!! 🌎
• Now let’s crank out some Dad / Bad Jokes:
  • What kind of music does the Easter Bunny listen to?  Hip Hop… 🐰😅
  • What do lizards do when they lose their tail?  They go to the retail store… 🦎🤦‍♂️
  • PSA – 2 Reese’s Peanut Butter Eggs has 4 grams of protein…  You’re welcome! 🤠
  • And another diet tip:  Your pants won’t get too tight if you don’t wear any! 😲🤣 
    • Be sure to follow Uncle Sean for more health and fitness tips! 🙃😉

 
 
“The world needs good people - be one of them.”
 
Have a GREAT weekend and please stay safe!
 
Uncle Sean
 
Sometimes known as Sean Mayo – contact me directly for scope and pricing of custom reports / analysis projects at [email protected] | 214-604-6961 – or you can contact FedFis Sales Team at 512-960-0911 | [email protected] #FedFisHasTheData FedFis
 
FedFis, LLC disclaimer – The views and opinions of Uncle Sean are of his own and may not necessarily represent the views, endorsements, and/or opinions of FedFis, LLC and its affiliates – we all know he’s a little bit different; but that’s why we love him.