Uncle Sean's Update - 3/6/26

Happy Friday!!!
 
HEY – don’t forget to set those clocks ⏰ forward this Sunday for daylight savings time 🌞!!!  Here is the Uncle Sean Update for 3/6/26 (subscribe here for free):
 

• Okay – so I have been looking forward to the Feb Jobs report all week to see: 1) can we sustain the 130K jobs added in Jan; 2) Were there significant revisions to prior months (incl Jan)…  And the data is in as of this morning (spoiler alert – it ain’t good 😬):
  • The BLS Feb Jobs Report showed a dismal 92,000 jobs lost (expectation was a gain of 55K) with unemployment ticking up to 4.4% and a downward revisions to BOTH Jan (down by 4K to 126K) AND Dec (down by 65K to a total of -17K jobs lost) - see revision history here.
  • CNBC has a good summary noting a strike at Kaiser Permanente sidelining 30K healthcare jobs in CA and HI (also referenced in the BLS report).
    • Next FOMC meeting is only a few weeks out scheduled for March 17-18 (and includes the SEP / Dot Plot projections) with no shortage of issues to take into account such as labor markets, multiple ongoing geopolitical issues, supply chains, etc. – heck the only thing missing at this point is flying monkeys!!! 🤠

 

• The Federal Reserve published their Beige Book - Feb 2026 showing overall “economic activity increased at a slight to moderate pace in seven of the twelve Federal Reserve Districts, while the number of Districts reporting flat or declining activity increased from four in the prior period to five in the current period.”  Citing “…economic uncertainty, increased price sensitivity, and lower-income consumers pulling back on spending.”

 

• 🤔 The Federal Reserve Bank of Kansas City has approved Kraken for access to Fed master account via Limited Account access  defined as “a limited purpose account for an initial term of one year that includes restrictions and limitations tailored for Kraken Financial’s business model and risk profile that are appropriate to mitigate risks identified in the Guidelines.”
  • Banking Dive has a good summary noting this is a first for a cryptocurrency firm to gain access to the central bank’s payment system.

 

• 👉 Revolut becomes the latest to apply for a national bank charter with the OCC and has named Cetin Duransoy as US CEO.

 

• Beta time!!!  Some details are starting to emerge as Elon Musk’s X Money launches Beta in participation with none other than Mr. William Shatner (unleashing my inner Trekkie, “to boldly go where no man has gone before” 😊) featuring 6% APY on deposits (at least during beta testing), a metal X Money Visa debit card with rewards on eligible purchases, and funds held at Cross River Bank (FDIC 58410; total assets $8.1B).

 

• Love seeing this 🫶 – Linker Finance and Sardine partner together to deliver real-time fraud prevention for community banks.  Linker Finance is now embedding Sardine’s fraud and AML controls directly into its retail and business banking platform, improving early threat detection, reducing manual review workload and strengthening depositor protection. Nice!!! 😊

 

• My friends at OMNICOMMANDER are making headlines again!  This week, Gulf Coast Educators Federal Credit Union (GCEFCU; charter 5648; total assets $1.3B) partnered with OMNICOMMANDER to launch a state-of-the-art website that serves as a fully functional "Digital Branch," offering members a seamless, mobile-first banking experience.

 

• 👀 By the way… OMNICOMMANDER also recently announced the launch of its newly redesigned website highlighting that financial institution digital presence isn’t just a marketing tool – it’s your institutions most powerful and most visited location that OMNICOMMANDER refers to as your “digital branch” destination.  They provide fully customized branding with SEO optimization (converting website traffic into new members / customers), and ADA-accessible. 🤘 Check them out at OMNICOMMANDER.com and tell them Uncle Sean sent you!!! 🚀
  • Did I mention they are veteran owned and operated?  🤙👏💪

 

• Beacon Bank and Trust (FDIC 17798; total assets $23.2B) goes live with the Narmi One platform for digital banking and account opening for both business and consumer.

 

• DolFinTech dives deeper into embedded finance with new banking services designed to empower Hispanic and other underserved communities.  The new DolEx Visa Debit Card and Barri Visa Debit Card are issued by Green Dot Bank (FDIC 22653; total assets $5.2B) and powered by Arc, Green Dot’s embedded finance platform.

 

• Tyfone announced the launch of Loanovia, a new loan servicing and payments business unit.  Flagship products consist of Skip-A-Pay, Quick Pay and Collect – all designed to help credit unions automate payment processes, reduce operational costs and elevate the member experience, while increasing non-interest income.  Check it out at loanovia.in.

 

• Notable FinTech funding for the week:
  • RenoFi (AI-enabled home renovation financing platform based on ‘after renovation value’) raised $22M in Series B funding round.

 
 
Random Uncle Sean stuff:

• 🎉 Happy 100th Birthday to Mr. Alan Greenspan!!!  Here is a wonderful tribute from the Federal Reserve Board in this LinkedIn post:
  • “Today we celebrate the 100th birthday of Alan Greenspan, the 13th chairman of the Federal Reserve, who guided U.S. monetary policy for over 18 years (1987-2006). Appointed by four different presidents, Chairman Greenspan served five terms. During his tenure, Chairman Greenspan navigated the Fed through significant economic events, including the 1987 stock market crash and the aftermath of the 9/11 terrorist attacks. The longest official economic expansion in U.S. history occurred while he was chairman.”  More pics, videos, and biography in the links below:
    • Alan Greenspan | Federal Reserve History
    • Federal Reserve YouTube video showcasing Greenspan pics
    • Current Chairman Powell birthday wishes to Greenspan with a nod to “irrational exuberance” for those of us old enough to remember the dot com bubble.
• And here we go – plenty of Dad / Bad Jokes to wrap up the week:
  • When Ben Franklin discovered electricity, he was shocked! 🫨⚡😅
  • I just found out the neighborhood had a meeting about the crazy guy on the block.  Kind of odd that they didn’t invite me… 🤔🤪
  • What if there were no hypothetical questions…??? 😏
  • What did one Dorito farmer say to the other?  Cool Ranch! 😎
  • And my favorite for the week:
    • My dog accidentally ate a book of pronouns…  There was she / it everywhere… 🤦‍♂️🤣

 
 
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.