FRB increase in Reverse Repo Rate June 16th is beginning to suck liquidity out of banks. Zoltan Pozsar’s Global Money Dispatch is a good resource for tracking the big rotation into the reverse repo facility.

The CFPB is making a comeback well into the second hundred days of Biden’s administration, driven in part by heightened recognition of the disparate financial impacts of the pandemic, and a national consciousness raised by the racial justice movement. Large banks should prepare for the return of “supervision by enforcement”.

Midsize US banks have held their own in recent years, but competitive pressures will bring a new wave of bank mergers. Deals need to be focused on true value creation, strengthening balance sheets, thorough diligence (credit, IT, synergies and cost saves), disciplined integration and a strong culture to make these transactions work.

The nonprofit news organization ProPublica ran a lengthy investigative report recently found that many Chime customers had their accounts closed without warning and were unable to access their money.

Edward Yardeni examines the money market mutual fund and discusses the bond conundrum in the US and how foreign purchases of US Treasury Bonds may be playing a large role in the increased strength of the dollar and continued low interest rates.

Post-graduation far too many graduate students are finding themselves with an unmanageable amount of student loan debt armed only with useless degrees in hand. In this article, Mish Talk discusses several potential solutions to the crises at hand.

The recent FT-IGM survey shows that economists are highly attuned to the risk of elevated inflation and while survey respondents’ median forecast for core PCE at the end of 2021 was the same as the Fed’s official median- 3 per cent – nearly two-thirds of the respondents said it was “somewhat” or “very” likely this metric would still exceed 2 per cent on a year-over-year basis by the end of 2022.

With TriumphPay’s recent acquisition of HubTran the merged companies will deliver the first integrated transportation payments network — a revolutionary feat that will transform the payments process for the transportation industry, with frictionless presentment, settlement and payment of invoices. Triumph continues to make strides in remaking their banking platform into a transportation fintech platform.

The lack of homes for sale relative to demand and record housing prices have slowed the pace of home sales in recent months. But on a historic basis, the market remains red hot, and analysts say demand from millennials entering their prime homebuying years is expected to fuel demand for years to come.