SoFi
Ticker SOFI. Digital bank and lender.
3 items in 3 issues, Oct 25, 2026 to Nov 9, 2026, newest first. Each item links to the issue it ran in, where its sources are listed.
Related: Regulation and policy
November 2026
- Mon, Nov 9 · Banks & charters
Rate watch. Rate watch tracks what savers earn and how much money sits in each bucket, the other side of the card rates above.Savings and other liquid deposits: Balances were $10.44 trillion in September, down from $10.87 trillion a year earlier. The FDIC's national average savings rate was 0.38% in October, down from 0.40% a year earlier. Online banks pay far more. EverBank pays 4.20% APY on new Performance Savings accounts, and Openbank, Santander's digital bank, pays 4.00% (4.35% for new customers' first six months), both as posted Nov. 9. SoFi pays 3.30% with direct deposit (as of Oct. 20), and Ally pays 3.20% (as of Nov. 5).CDs (small time deposits): Balances were $1.51 trillion in September, down from $1.52 trillion a year earlier. The national average 12-month CD rate was 1.76% in October, up from 1.68% a year earlier; Ally's High Yield CD pays 2.90% APY (as of Nov. 5).Money market funds: Assets were $8.02 trillion in the week ended Nov. 4, up from $7.53 trillion a year earlier, including $3.12 trillion in retail funds. These uninsured funds pay more than most bank savings accounts. The Crane 100 index of the largest funds had a seven-day yield of 3.75% as of Nov. 8, compared with 3.58% at the end of 2025.Biggest low-rate deposit bases: JPMorgan Chase's consumer bank held $1.10 trillion of average deposits in the third quarter, up 4% from a year earlier, and earned a 2.78% margin on them. JPMorgan does not disclose a consumer rate paid. Bank of America's Consumer Banking unit held $948.6 billion of average deposits, little changed from $947.4 billion a year earlier. It paid an average rate of 0.51% on them, compared with 1.49% across all of BofA's deposits.The shift: Over the past year, savings and other liquid deposits fell about $422 billion while money market fund assets grew about $481 billion. Deposit balances fell about $822 billion in November and December 2025 alone and have since recovered about $338 billion.Deposit balances are Federal Reserve H.6 data, seasonally adjusted; rates are each bank's posted rate or FDIC monthly averages.
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October 2026
- Sat, Oct 31 · Cards & payments
Card lenders lag. In Friday's sell-off, bank ETFs fell about 1% (KBE -1.1%, KRE -1.2%), but consumer lenders fell harder: OneMain -4.7%, Atlanticus -4.8%, Citi -3.1%, Synchrony -2.1%, Capital One -2.1%. Fintech lenders were weaker still, with SoFi -4.8% and Upstart -7.2% (Interactive Brokers late-Friday quotes).
Read in the issue → - Sun, Oct 25 · Banks & charters
Charter wave. Block, Ramp, Avant and Modern Treasury have sought OCC charters in recent months, and Ramp applied the week before Sezzle. Context: Affirm applied for a Nevada ILC earlier in 2026, PayPal sought a Utah ILC in Dec 2025, and Upgrade filed for a Nevada ILC on Oct 12, 2026, naming ex-OCC and SoFi executive Virginia Varela as bank CEO.
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