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What Do Health and Wellness Influencers Post About?
Just over half of health and wellness content on social media focuses on healthy living, while about a third discusses medical topics. And 38% of posts have a product or service promotion.
How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.
Nationwide Survey: Businesses Are Using AI Faster Than They Are Managing Its Risks
Six in 10 business owners say employees use public AI tools for work, but only about a third have written policies or responsible-use training. Nearly one-third say their company has been targeted by a generative-AI scam or fraud attempt in the past year. Only about a third of small and mid-market businesses have an up-to-date incident respons...
Can reclassifying muscle dysmorphia unlock better care for boys and men?
Males make up about a third of the population struggling with eating disorders in the United States. While these conditions often start during the teen
In Good Health: Finding A Primary Care Physician
When was the last time you went to the doctor?Not necessarily for something big, not for a broken finger or the flu. Just a checkup. A regular annual visit to make sure everything is ok with your health.For about a third of Americans, it’s probably been too long. In 2024, more than 100 million people did not have a regular primary doctor at all, according to the National Association of Community Health Centers.The outlook is particularly bleak for young people. More than a quarter of people aged 18 to 29 polled in a national survey this summer said they didn’t have a primary care doctor. And over half of them who did have a doctor said they skipped or didn’t schedule an annual wellness check up in the past year.But the blame shouldn’t fall solely on the patients. Primary care doctors are getting squeezed by the current healthcare system. There’s a growing shortage of primary care physicians. That can mean wait times of months just to get an appointment.For today’s installment of our series, “In Good Health,” we’re unpacking the state of primary care—and what to do if you don’t have access to it.Find more of our programs online. Listen to 1A sponsor-free by signing up for 1A+ at plus.npr.org/the1a.
Citizen Science Reveals A Hidden Map Of Sharks And Rays In Mozambique
Citizen science data from iNaturalist reveal 44 species of sharks and rays in Mozambique, covering about a third of known national diversity. Most records are from southern regions and many species are threatened, highlighting both the power and the bias of crowd-sourced biodiversity data.
One in three new science papers now reads as AI-written, study finds
A new study of 12,750 arXiv papers finds about a third of recent submissions read as AI-written, raising questions about transparency in academic publishing.
About a third of U.S. Democrats like political leaders who identify as democratic socialists
Democrats’ views on democratic socialists also differ by race and ethnicity, age, education, income and political engagement.
About a third of students in New Orleans struggle with mental health. Many can’t find help.
More than 40% of Black and Hispanic students and 25% of White students said they felt sad and hopeless every day, which can be symptoms of depression, according to the survey last school year of about 2,000 New Orleans students in grades 6-11.
AJC poll finds Bottoms leading Georgia’s Democratic race for governor
Former Atlanta Mayor Keisha Lance Bottoms has a big advantage. But about a third of likely Democratic primary voters remain undecided.
Viewpoint: A career in science is possible, and worth it
Starting a career in science is exciting, but also demanding, with researchers often faced with intense competition, long working hours and high levels of stress. A pioneer in the field of mass spectrometry, Carol Robinson has been there. She speaks with Science|Business on the importance of creating a supportive environment, particularly for women.Robinson did not wake up one day thinking that she would become a scientist. It was only late in school that she developed an interest in chemistry. “The more you work at something, the more you think, actually, this is fascinating. So, I went much further and deeper than I ever needed to pass the exam. And then I loved it,” she says. “I thought, I’m going to give it my all. I’m going to enjoy it while I’m here. But I didn’t think this would be my career for 50 odd years.”She left school at 16 to become a lab technician with the drug company Pfizer, which is where she first worked with mass spectrometry. Fascinated, she was encouraged to take a part-time degree and then a PhD. She went on to do pioneering work in native mass spectrometry, a technique that is used to study protein structures in their natural state, paving the way for breakthroughs in drug discovery. She also broke new ground by becoming the first female professor of chemistry at the University of Cambridge, and then the first female professor of chemistry at the University of Oxford, her current home.She now wants to show young researchers that a career in science is worth it. “Sometimes, I believe the culture isn’t very encouraging, and that’s something I have worked on,” Robinson says.In 2021, she launched the Kavli Institute for Nanoscience Discovery at Oxford, whose acronym gives a sense of what she hopes it will achieve. “Maybe it is corny,” she says. “It’s just a reminder that I would like it if we could all be kind to each other and supportive, especially for early-career researchers of either gender, because there’s quite a big attrition rate in science, and maybe it just doesn’t feel like a very friendly place to work.”And yet, a career in science comes with a lot of flexibility. “There are few careers where you have that amount of freedom, to go to conferences, to the library. Just because you didn’t see me didn’t mean I wasn’t working,” she says. “And I’m excited to come in every day. So, I don’t want people to think it’s a terrible place.”Gender equality is also important when it comes to the quality of science as a career. “The more women we have, the better it becomes,” Robinson adds.Imposter syndromeAccording to EU data, women outnumber men in university education but account for just about a third of graduates in science, technology, engineering and mathematics (Stem). And while the number of women working as scientists and engineers in the 27-member bloc is on the rise, their representation remains below that of men, at 41%. This discrepancy is even more pronounced in top-tier functions across these fields, where women fill just 20% of positions.Having supervised many young scientists, Robinson sees that women continue to have a greater propensity than men to doubt their abilities, a feeling she once shared. “When I was doing my PhD at the University at Cambridge, I really felt like an imposter,” she says. “I don’t think I ever felt I deserved to be there or owned it and was proud. I just thought I was lucky.” Later on, she adds, “I was always that person who said, I can’t apply yet because my CV is not strong enough.”She has now made it her job to encourage women to break with this imposter syndrome. For example, rather than calling for volunteers to give a lecture in the groups that she mentors or teaches, which nearly always results in men stepping forward, she goes straight to the women, “because I know they won’t push themselves forward.”But the gender gap in science is not just down to imposter syndrome. The “obvious” reason, Robinson says, and the reason that is on everybody’s mind when discussing workplace gender equality, is the balance between work and raising a family. Her own path was to choose between the two, taking an eight-year break after completing a postdoctoral training fellowship to bring up three children. And she continues to advise women not to work part-time while they raise a family. “You’ll just get half the pay and continue to work full-time because you are not able to fit everything in,” she says. “You should be able to have a family and come back to have the career that you want.”The solution is for men to also take career breaks. “That kind of evens it up, so that it’s not such a big thing for women,” Robinson says. “I always encourage men in my groups to do that. I think it’s important to take your share of the duties.”Support produces resultsAccording to the Women in Stem Network, a UK advocacy group, countries with strong childcare systems and equal pay policies retain more women in technical careers. In Europe, these are primarily found in the Nordic region and parts of central Europe.At the EU level, the European Commission asks all Horizon Europe applicant organisations to have a gender action plan in place. Since this criterion was introduced in 2021, the share of women leading consortia has increased to 31%, against 23% in Horizon 2020. Their overall participation, however, has risen just 1%, to 38%. After trying to weaken the requirement for gender action plans in 2025, the Commission now intends to adopt a plan for supporting women in research and innovation.Related articlesCommission scraps plan to water down gender requirements in HorizonHow gender balance can swing who wins Horizon Europe fundingRobinson herself has benefited from three Advanced Grants from the European Research Council. “I was extremely honoured and privileged to get those, because they really allowed me to fuel my passion,” she says. “Without that, it would have been a much harder slog.”Beyond applying gender rules, she says that more work is needed on translational enterprise, where women are, once again, largely underrepresented. The European Patent Office found that only 13.8% of applications were filed by women in 2022. “We have so many more women doing amazing science; why do they feel it’s not a thing to have a company?” she asks.She founded her own spin-out company, OMass Technologies, in 2016, and remains chair of its scientific advisory board now that it trades as OMass Therapeutics. As for research, Robinson is now studying how changes in the brain may be linked to depression, using port-mortem tissue. “We’re hoping to publish soon,” she says. “We had to consult with a lot of people who knew a lot more about the brain than we did. So, we’ve learnt a lot, and that’s always a lot of fun to learn a new thing. That’s what keeps you going.”
Democrats are trying to connect the dots on Trump’s 2026 plan
The next election is always the most important for politicians on the ballot, which in this year’s midterms will be every member of the US House and about a third of the Senate.
Why politics, money, and construction capacity will limit any European turn toward nuclear power generation
The EU wants to reestablish the nuclear power supply it once had, when nuclear provided about a third of the bloc’s electricity supply. But Europe's industrial capacity, financial challenges, and politics are major obstacles to a European nuclear renaissance.
Poll: 1 in 3 Adults Are Turning to AI Chatbots for Health Information, Equaling the Share Who Use Social Media for Health
About a third (32%) of adults nationally say they have turned to artificial intelligence (AI) chatbots in the past year for health information, a new KFF Tracking Poll on Health Information and Trust finds. Most who turned to AI for health information say they were in search of quick and immediate advice, though challenges affording and accessing health care also play a role, particularly for younger adults.
This wild fruit is getting a CRISPR makeover
Scientists have used CRISPR to give the goldenberry a modern makeover, shrinking the plant by about a third and making it easier to farm. Goldenberries are tasty and nutritious but notoriously unruly, with bushy plants that complicate harvesting. By editing a few key genes and selectively breeding the best-tasting fruits, researchers created new varieties ready for wider cultivation. The approach could speed up how new crops are adapted for a changing climate.