According to a survey, Gen Zers and millennials are especially interested in Apple’s high-yield savings account.
Banking
Good Start For Apple Savings: Gen Z and millennials especially interested in Apple savings account, but generally all adults, especially Apple Card owners also interested.
Consumers are starting to fall behind on credit card and loan payments. Delinquencies still modest, but big banks are planning for it now.
8.2% of Apple sales came from services in 2012, which grew to 19.8% in 2022. In 2023, Apple fintech launched Savings and Pay Later. Here's a recap, what's next with Apple fintech, and why they're winning.
Apple Card users can open a savings account paying 10x average interest from other banks, with no fees or minimum balance requirements. A win for Apple and Goldman Sachs.
1Q23 bank earnings recaps and key quotes from CEOs Jamie Dimon, Charlie Scharf, Jane Fraser on bank crisis, regulatory outlook, inflation, recession.
Bank crisis mortgage approvals are mostly business as usual. Here's which loans are sailing through and which loans are tighter and why.
1Q 2023 bank earnings will start soon, and Fisher Investments closed out March with a useful signal of bank strain during that rough month.
Since January, First Republic's 2023 net interest margin down by 118 basis points, which S&P says is grim for earnings. Here's the analysis.
Fed hikes make loans pricier and harder to get. This lowers demand for goods and services bought with loans, which lowers inflation. But how low is too low?
See Paul Davies and Elaine He charts that analyze where money went as Silicon Valley Bank balance sheet troubles led to the second biggest bank failure in U.S. history.

Tesla was worth around $25b (similar to Twitter today) when Musk said it could be worth as much as Apple. Now he says Twitter can be worth as much as BofA.
Mercury, a unicorn banking platform built on a network of partner banks is profitable, growing rapidly, and Silicon Valley’s new favorite
Fox Business reports First Republic no longer actively looking for a buyer as potential suitors are concerned about the losses they'll have to add to their books with no government backup.
MoneyLion kicks off Financial Literacy Month by posting fake money around NYC that unlocks personal finance hacks and real cash for wealth building, retail shopping, food shopping, student life. Here's the details.

