In this episode: Banking Dive | Reuters | Finextra | Fortune | Payments Dive | Crunchbase News

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🎧 Your Inbox Last Night
📅 March 23, 2025 Edition
🎙️ Fintech & Payments News in ~10 Minutes

[INTRO – 0:00]

Welcome back to Your Inbox Last Night—the podcast that saves you 90 minutes of fintech slog so you can get back to your life, your lattes, or your leveraged buyouts.

We’re like the CliffsNotes of payments news—if CliffsNotes had sarcasm and a minor obsession with the CFPB.

Let’s crack open your inbox and see what slipped past while you were living your actual life.

[TOP HEADLINES – 0:40]

First, your five-alarm fintech fires—because your brain deserves a warm-up before we hit the deep dive:

• Banking Dive reports that the OCC is officially dropping “reputational risk” from its exam criteria. From now on, it's all about the financial metrics. Translation: If your PR disaster doesn’t affect your profits, the OCC doesn’t care.

• Reuters says Barclays just dodged a $17.7 billion bullet. A U.S. court dismissed shareholder lawsuits over bond sales, citing a lack of standing. Legal judo at its finest.

• According to Banking Dive, Trump has nominated Michelle Bowman as Vice Chair of Supervision at the Fed. That’s a big regulatory seat—more on why this move is raising eyebrows in just a bit.

• Banking Dive also reports that Wells Fargo is inching closer to shedding its asset cap. The OCC lifted yet another consent order tied to its mortgage business.

• And over in crypto land, Finextra says XRP popped 10% after the SEC finally dropped its four-year case against Ripple. That sound you hear? Crypto Twitter doing cartwheels.

[THE BIG STORY – 2:20]

Fortune brings us today's cosmic crossover: the Dogecoin Foundation is proposing an integration with Social Security. Yes, that Dogecoin. Yes, that Social Security.

Backed by Mark Cuban, the plan aims to drastically cut federal payment transaction costs using crypto rails. The idea? Use Doge’s low-fee infrastructure to modernize government disbursements.

Crypto advocates are calling it bold. Traditionalists are calling it bonkers. Cuban’s calling it brilliant. And somewhere, a Treasury official is probably calling their therapist.

It's still early, but the culture clash between meme-coin anarchists and D.C. bureaucrats is officially on.

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[MR. X SPEAKS – 3:45]

Time for a little fintech tea, courtesy of Mr. X—our anonymous industry insider with better sources than the SEC.

• Mr. X whispers that a major bank under regulatory pressure is pushing behind the scenes to fast-track the removal of its consent orders. He compares it to “changing the oil mid-race”—risky, messy, and potentially genius if it works.

• Meanwhile, a once-hyped fintech IPO candidate is now hosting what Mr. X describes as “desperation dinners” with investors. He says their pitch decks look more like plead decks. “Someone’s bound to blink first,” he says, while nursing a bourbon. As always, stay tuned.

[MARKET MOVERS & INDUSTRY TRENDS – 5:10]

Let’s get into the movers and shakers, starting with some big institutional plays.

• Payments Dive reports that Northern Trust is jumping into crypto tokenization, but they're calling for more regulation to help bring credibility and investor confidence. In short: let’s tokenize... but responsibly.

• Payments Dive also has Mastercard beefing up digital wallet security by linking arms with community banks. It’s fintech meets neighborhood watch.

• Crunchbase News says Klarna and other VC-backed fintechs are eyeing the IPO door, hoping to exit before market turbulence kicks it off its hinges. Timing, as always, is everything.

• Banking Dive reports that MetroCity Bank is acquiring First IC Bank for $206 million, deepening their presence in Georgia’s Korean-American market. A strategic move in a growing demographic.

• And also from Banking Dive, Legacy Community Federal Credit Union is merging with First Community Bank of Cullman, boosting their Alabama footprint in classic credit union fashion.

[QUICK TAKES – 6:40]

Three fast ones to keep your edge sharp:

• The CFPB is asking for input on digital payment privacy rules. Yep, they want your thoughts before laying down new laws. Miracle? Momentary lapse? Either way, don’t miss your chance to shout into the regulatory void.

• Google Wallet is now targeting Gen Z with a youth payment feature. Because nothing says “coming of age” like managing allowance through a digital wallet.

• And the Swiss National Bank is dipping its toes into synthetic CBDCs. Central bankers in Zurich are pondering a digital franc, possibly setting the tone for a broader global pivot.

[BACK TO BOWMAN – 7:30]

Let’s circle back to Michelle Bowman—because her nomination isn’t just another headline.

Banking Dive explains that Bowman, a current Fed Governor, is Trump’s pick for Vice Chair of Supervision, a role that oversees the entire U.S. banking system. If confirmed, she’ll replace Michael Barr, a staunch advocate of tighter capital standards.

Bowman is seen as more deregulatory—think lighter-touch oversight and a friendlier approach to banks. Critics argue she’s too cozy with the industry, pointing to her prior role as a community banker and her tendency to push back on stricter reforms.

In short: if confirmed, expect a shift in tone at the Fed—and some very nervous regulators.

[OUTRO – 9:00]

And that’s a wrap for your inbox last night.

You just skimmed through hours of fintech news in under 10 minutes. You’re sharper than a yield curve inversion and more current than the Fed’s balance sheet.

If you liked what you heard, subscribe, share, or shout “fintech saved my soul” into your smart speaker.

Until next time, stay caffeinated, stay curious, and remember—when crypto collides with Social Security, we all get a little Doge-induced whiplash.

🎧 This has been Your Inbox Last Night. See you tomorrow, inbox warriors.

Links to the news sources from today's episode:

#FintechNews #Dogecoin #PaymentsInnovation #BankingNews #DigitalPayments

Consumer Financial Protection Bureau | Promoting Competition in Payments | live link

Consumer Financial Protection Bureau | CFPB Seeks Input on Digital Payment Privacy and Consumer Protections | live link

Fortune | Dogecoin Foundation Proposes Social Security Backdoor to Cut Payment Costs | live link

Tearsheet | How Traditional Banks Are Making Embedded Finance Work Without Changing Their DNA | live link

Reuters | Barclays Beats Two Lawsuits in US Over $17.7 Billion Issuance Blunder | live link

Banking Dive | OCC to Stop Examining for Reputational Risk | live link

Payments Dive | Mastercard Partners with Community Banks on Digital Wallets to Combat Fraud | live link

Banking Dive | Michelle Bowman Nominated as Federal Reserve Vice Chair for Supervision | live link

Banking Dive | OCC Terminates 2021 Wells Fargo Consent Order on Home Lending; 3 Left Before Asset Cap Lifts | live link

Banking Dive | MetroCity Bank to Acquire First IC Bank for $206 Million | live link

Banking Dive | Legacy Community Federal Credit Union to Acquire First Community Bank of Cullman | live link

Reuters | Fintechs, Crypto Companies Seek Bank Charters for Growth | live link

Financial IT | Modern Payments, Outdated Systems: Why Growth and Uncertainty Demand Change | live link

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