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Guthrie, Oz promote rural health funding in Glasgow visit
GLASGOW — U.S. Rep. Brett Guthrie, R-Ky., and Centers for Medicare and Medicaid Services Administrator Dr. Mehmet Oz visited T.J. Health Pavilion in Glasgow on Friday morning to meet with […]
At least 5 other states join Mass. in covering transgender kids’ health care under Medicaid
The states, including half of New England, vow to cover the care after a new rule from the Trump administration will cut off federal funding for many treatments starting in October.
Survey of young researchers raises concerns over future of science in U.S.
Fewer planning careers in academy, nation, and more doubt value of Ph.D. amid policy shifts in funding, international students
Switchboard Health Acquires Livara Health to Integrate Value-Based Musculoskeletal Care
Acquisition Brings Livara’s Virtual MSK Care Model Onto Switchboard’s Specialty Care Platform; Closes $5M+ Round of Funding Switchboard Health, creators
Pittsburgh orders 13 new fire trucks to replace aging apparatus
Pittsburgh will use funding donated by Highmark Health to purchase eight engines and five ladder trucks as the city works to replace an aging fleet
New revelations about Reform UK and funding
Nigel Farage again denies party have broken the law after undercover filming shows man posing as ‘impermissible donor’ paying for polling that helped Reform
Victoria County to weigh mental health facility, road work and airport upgrades
Victoria County commissioners are set to take up construction, transportation, public-health and student-veteran funding items during a special meeting Tuesday, Sept. 8.
Two senior Reform UK officials step down after undercover report
The party has launched an investigation into claims about funding aired during a Channel 4 News report, and denied any wrongdoing.
Malaysia boosts digital health funding to $250M
The additional $87 million will support internet connectivity and EMR rollout as the government brings forward its public healthcare digitalisation target from 2045 to 2028.
Penobscot Community Health Care to lay off 16, close wellness center amid $3M funding gap
Iowa mom shares postpartum journey as state expands perinatal mental health care
A mother from Iowa recounts her experience with postpartum psychosis, as the state is investing federal funding to improve access to perinatal mental health resources.
Iowa mom shares postpartum journey as state expands perinatal mental health care
A mother from Iowa recounts her experience with postpartum psychosis, as the state is investing federal funding to improve access to perinatal mental health resources.
Science Division launches five new centers to foster multidisciplinary research in areas of growing importance and interest
These centers debuted July 1 with five years of initial funding and will focus on marine genomics, geohazards, materials innovation, RNA science, and astrobiology.
Bexar County could slash public health by more than half
Bexar County's budget staff recommended cutting the public health department by more than half as federal funding dries up.
A NASA Spacecraft Is Nearing The Edge Of The Solar System. Its Instruments May Be Shut Off Due To Lack Of Funding
New Horizons' instruments may be shut off before it reaches the Solar System's "termination shock", despite it being fully functional likely into the 2050s.
Pacific Science Center Secures Historic $5.25M Grant from The Muglia Family Foundation to Offset State Funding Losses to 'Science on Wheels'
Pacific Science Center (PacSci) announced a $5.25 million grant from The Laura Ellen and Robert Muglia Family Foundation to sustain Science on Wheels, PacSci's outreach program bringing hands-on STEM learning to schools and communities across Washington State. It is one of the largest gifts in PacSci's history and one of the first major grants from The Muglia Family Foundation since it formalized its grantmaking in late 2025.
US Proposal To Eliminate PAHO Funding Raises Alarm Over Health Security In Western Hemisphere
The oldest multilateral health organization in the world, the Pan American Health Organization (PAHO), is fighting across dozens of countries against many of
Michael Bloomberg Gives $155 Million to Museum of Science, Boston for New Civic Wing
Michael Bloomberg has donated $155 million to the Museum of Science, Boston through Bloomberg Philanthropies, funding a new public venue designed to bring... Read More
Imaging artificial intelligence vendor Elucid raises $55M
The Boston AI firm touted the “oversubscribed” Series D funding round, which included participation from an unnamed, publicly traded medical technology firm.
Sony and Microsoft say they’re not obligated to pass U.S. tariff refunds to consumers, echoing Nintendo
Back in July, Sony executives told investors that the company expected to receive $508 million in refunds from the U.S. government, after tariffs that the PlayStation-maker paid were ruled mostly in 2025 were found to be illegal. “Most” of the refund would by recouped by Sony’s gaming division, its chief financial officer said. This week, Sony’s lawyers are arguing that the company is not legally obligated to pass those proceeds on to consumers who paid for recently price-hiked PlayStation consoles. That’s in the face of a lawsuit from gamers calling on them to do exactly that. “Paying fair market price for voluntarily purchased consumer goods is not a legally cognizable injury in fact,” the lawyers wrote in a legal motion filed on Monday, as they asked a judge in California’s Northern District to dismiss a potential class action lawsuit over the tariff refunds. Microsoft made a similar argument two weeks ahead of Sony’s lawyers, in a similar lawsuit brought by a gamer in federal court in Washington State. As Microsoft’s legal team put it on August 21, in their request for a dismissal of that lawsuit: “There is nothing unjust about Plaintiff purchasing an Xbox at an advertised price and getting exactly what he paid for—regardless of whatever theory he devised months later about Microsoft’s cost structure.” Both legal fights are set to go on for some time. How things got to this point U.S. tariffs impacting a wide range of imported goods, including game consoles, had kicked off in early 2025. In May 2025, Microsoft raised the price of its Xbox consoles, citing “market conditions and the rising cost of development.” They raised them again that September. In August of that year, Sony raised the price of PlayStation 5 consoles, citing “a challenging economic environment.” Sony later told investors that its tariff fees for the fall quarter were nearly $200 million. in February of this year, the U.S. Supreme Court ruled the 2025 tariffs illegal, prompting impacted companies to begin to request refunds. In turn, consumers began suing the likes of Sony and Microsoft to get what they said was their share. The gamers in the Microsoft and Sony lawsuits argue that the 2025 price hikes of PlayStation and Xbox consoles, which added $50 or more to their sticker price, were due to illegal tariffs and should now be returned to consumers. The Sony suit started in May, when a group of gamers sued in federal court in California, saying Sony Interactive Entertainment (PlayStation) would be unjustly enriching itself if it did not pass tariff refunds to its PS5 buyers. “Sony is poised to be paid twice for the same unlawful tariff burden: once by its customers (through elevated prices) and once by the U.S. government (through tariff refunds),” the gamers’ lawyers wrote at the time. They called for Sony to partially reimburse anyone who bought a PlayStation in the U.S. since August 1, 2025. The Microsoft suit, filed by gamer Trevor Hastings against the Xbox giant in July, made similar claims. The console makers push back In late July, Nintendo’s lawyers, facing a similar suit accusing them of double-dipping on tariffs and refunds, replied with arguments that previewed Microsoft’s and Sony’s: “Nintendo or one of its retailers set a price for each product, and consumers decided whether that price was worth paying,” they wrote. Sony has buttressed that Nintendo-style argument this week by saying that the gamers have failed to prove that tariffs were the reason for its August 2025 PS5 price hike. They call thatclaim “speculative and illogical.” Other factors, including “inflation, currency fluctuations, component costs, logistics, competitive dynamics, or demand,” could have played a role. (No, the Sony lawyers do not break down the costs and factors that officially triggered the price increases). Microsoft has also argued that there’s no proof in these lawsuits that tariffs drove all or some of the price increase, as it seeks to dismiss the tariff refund suit it’s facing: “Plaintiff provides no specific allegations that would establish any pricing differential attributable to tariffs or suggest any possibility that Microsoft applied then or could recreate now any dollar-for-dollar calculation of tariff-related pricing—any more than it could any other market factor that affects pricing.” To further skewer the gamer side’s argument in its case, Sony’s lawyers have pointed to what might be a surprising defense: yet another PlayStation 5 price hike from this past spring, after the tariffs were ruled illegal. “If the original price increase were attributable to tariffs, SIE [Sony Interactive Entertainment, aka PlayStation] would have had no reason to raise prices again after the Supreme Court invalidated the IEEPA tariffs.” … “If tariffs were the cause of the price increases, one would expect SIE to lower prices once the tariffs were eliminated—not raise them again. Instead, the timeline confirms that the pricing of PlayStation consoles includes a diverse and dynamic set of input costs.” Judges have not yet ruled on the arguments made by Sony, Microsoft or Nintendo. Last week, Panic, the company behind the small, yellow Playdate handheld said it would be passing its tariff refunds on to consumers. It is the only gaming hardware maker to have made such a pledge. Game File is a reader-supported publication. To receive new posts and support my reporting, please consider becoming a free or paid subscriber. Subscribe Item 2: A reporter’s second Second Life Wagner James Au, who from 2003-2006 was paid by San Francisco-based tech company Linden Lab to be a full-time journalist embedded in their virtual world Second Life, is returning to the company. This time, he’ll be an editorial advisor and business development specialist, he tells Game File. The new role will involve trying to share the stories of people inhabiting Second Life’s ongoing online world with reporters and by extension the public. Au plans to continue to also chronicle some of that through his long-running blog New World Notes. I’ve known Au since the mid-2000s and featured him in a 2007 article for the Columbia Journalism Review about reporters like him opening up virtual news outlets within Second Life. As I wrote at the time: On April 22, 2003, writing as Hamlet Linden for the New World Notes blog on Second Life’s Web site, Au introduced himself. “For the next few months, Linden Lab has invited me to set aside my journalist cap, and instead, don the digital beanie of their in-house virtual correspondent.” He wasn’t paid to keep it positive. He wrote about builders and eccentrics, but then in August of that year, he reported on a tax revolt against Linden Lab (a complaint about the fees it charges users who build stuff) led by a resident whose avatar was a big cat. Second Life has always been less of a video game and more of a virtual world where people can live, hang out, make art, sell virtual items and flirt. Back in 2007, Au described touring it as “sort of like underwater lucid dreaming.” For the past two decades, Au has maintained New World Notes as an independent publication. But he said he’s been drawn back to Second Life and Linden Lab as a place to directly work. The virtual world has around 650,000 monthly active users, he said, “which is actually about what it was during the hype wave.” Au says he’s still finding rich stories in Second Life, the kind that keep him interested 20 years into the beat: “Over the last few months for instance, I wrote about an SL creator in Venezuela whose apartment was destroyed by the earthquakes, so the global SL community rallied to get him back on his feet,” he told me. “Then there’s the woman from a Middle Eastern country who explored her lesbian sexuality in SL, then earned enough from her virtual jewelry to escape her abusive family situation and country.” Au wants to beckon more reporters to give Second Life another look. He argues that it is often ahead of internet trends, noting, for example, an early backlash in the community against AI-made art. Now the platform is drawing curiosity from more of the user-generated content community who’ve grown up with the likes of Roblox, according to Au. “Second Life was too early during its hype wave in 2005-2010, but it now feels right for a new wave of interest,” he told me.
N.Y. leads 23-state lawsuit over new Title X family planning funding conditions
Attorney General Letitia James is leading the challenge to new conditions tied to Title X.
Gov. Greg Abbott doubles down on rare fight for Medicaid
Abbott’s spokesman reiterated that Texas is not doing anything wrong that would disqualify hospitals from receiving nearly $10 billion in Medicaid funding annually.
New UK taskforce will examine influence of political mega-donors
Government pledges to find quick ‘solution’ to party funding row under pressure from Labour MPs
1Password wades into a right-wing mess after funding a Linux project
The controversy surrounds David Heinemeier Hansson, who has posted strident anti-vax and anti-immigrant views.
Huntsville Offers Funding To Businesses For Mill Creek Façade Improvements
Business and property owners in West Huntsville’s Choice Neighborhood Mill Creek area will be eligible to apply for grants to improve their building exteriors.
8 questions GOP lawmakers face as the House returns
Republicans face a torrent of questions about the words and actions President Donald Trump has unleashed while they’ve been gone.
In standoff with Newsom, California Democrats claw back $450 million for climate projects
Gov. Gavin Newsom’s new carbon market rules threatened money for certain climate programs. He struck a deal to continue funding for transit and water projects.
In center of Wisconsin's measles outbreak, tiny health team toils on
Wisconsin ranks second-to-last in the nation for state dollars allocated to public health funding. In places like Iowa County, it shows.
State employees may see health insurance premium rise amid 'challenging' budget forecast
The two boards overseeing health insurance for state and public education employees Tuesday approved plans to ask the Legislature for more funding amid growing healthcare costs and expected difficulties with the state budget.
America first, global health last?
The US is reshaping global health aid through bilateral deals and stricter conditions – raising concerns over funding gaps, sovereignty and whether a transactional model can replace decades of multilateral cooperation
Trump takes aim at American science as China pulls ahead
NEWS ANALYSIS. For US President Donald Trump, science is plagued by 'woke ideology.' His administration announced that, starting in October, research projects eligible for funding must align with 'government priorities.'
New investment into perinatal care could help Iowa mothers with mental health concerns
A Coalville mother recounts her experience with postpartum psychosis, as Iowa invests federal funding to improve access to perinatal mental health resources.
Osborn, Ricketts spar on health care, immigration, beef imports at Nebraska State Fair
Candidates questioned on Medicaid, ICE funding and foreign beef imports.
Should California Backfill Science Funding After Trump Cuts? Voters Could Decide in 2028
Last year the White House suspended or cancelled more than 1,000 California science grants. This bond measure would restore some of that funding.
Advocates want more support for private colleges in state budget
Good government group NYPIRG has been sounding the alarm over funding levels for months.
Health Brief: Health care’s December pileup
Congress bought itself a few more months on government funding, but lawmakers are already stacking up health care fights for the end of the year.
Community Health Foundation awards over $100K to support APSU health initiatives
The Clarksville-Montgomery County Community Health Foundation has awarded $106,481 in grant funding to the Austin Peay State University Foundation.
Hochul calls on federal government to restore counterterrorism funds
Last year, Hochul the federal government cut about $187 million in counterterrorism and homeland security funding.
Maine health clinics say state failed to pay nearly $6.5M cost-of-living increase
The state health department said there was no funding appropriated for this year's adjustment.
House passes stop-gap bill that pauses changes to federal science grant-making process
The proposed change, which would have given control of science funding to appointed bureaucrats, was criticized widely by the scientific community
House passes funding bill to avoid shutdown before midterms
Continuing resolution to approve government spending until 11 December passes 370-48 and will now go to Trump
House passes short-term funding bill to avoid a shutdown before the election
The Senate had already overwhelmingly approved the measure
House sends government funding bill to Trump to avert shutdown ahead of midterms
The House passed a bill on Tuesday to extend government funding to December 11, clearing a path to avert a shutdown ahead of the upcoming midterm elections.
Congress averts a government shutdown ahead of the midterms
With just a few weeks to spare, the House approved legislation extending funding through mid-December.
Should California backfill science funding Trump cut? Voters could decide in 2028
Last year the Trump administration cut more than 1,000 California science research grants. A bond measure would restore some of that funding.
Should California backfill science funding Trump cut? Voters could decide in 2028
This story was originally published by CalMatters. Sign up for their newsletters. A California science bond measure to counter the Trump administration’s research cuts is back from the dead after state lawmakers and Gov. Gavin Newsom reached a deal last week to place the $7.5 billion request to voters on the March 2028 ballot. Senate […]
Judge rebukes HHS over AI use in cutting teen pregnancy prevention grants
He wrote that grant solicitations for changes to funding reference public health studies that appear not to exist or do not support what they are cited for.
Calmatters: Should California Backfill Science Funding Trump Cut? Voters Could Decide In 2028
CalMatters
Holland & Knight Health Dose: September 1, 2026 | Insights
Congress returns to consider a continuing resolution funding the government through December 11, 2026, as healthcare policy and regulatory developments continue.
Home State Health and Centene Foundation Award $750,000 to Missouri Organizations Advancing Community Health
Funding supports community-based programs addressing food security, housing stability, workforce development, foster care and rural health across Missouri ST. LOUIS, Sept. 1, 2026 /PRNewswire/ --...
California to buy defunct horse track and turn it into the Bay Area's newest public park
California lawmakers struck a deal to divert $125 million in climate funding to buy the former Golden Gate Fields track and turn it into a park
House to vote on stopgap funding bill as lawmakers scramble to avoid government shutdown
Speaker Mike Johnson to launch a floor vote designed to prevent any federal shutdown before the November midterms
Oxfordshire science facilities protected from funding cuts
The Rutherford Appleton Laboratory says its world leading facilities are still operational.
Josh Allen Bringing Back Fan-Favorite Tradition With New Twist
The Bills quarterback returns to the tunnel with eight hospital-designed caps, now offering fans a chance to wear the same creative styles while funding vital pediatric care.
Texas hospitals to lose $27 million in Medicaid funding daily
Starting Sept. 1, the Trump administration will withhold about $9.8 billion in extra annual funding that helps hospitals cover the difference between Medicaid payments and the actual cost of services.
Hochul announces $36M in additional funding for victim services statewide
The announcement follows advocates speaking up for weeks about not receiving enough funding to operate their programs for their upcoming year.
Maine GOP urges immediate funding boost for struggling rural health centers
PCHC, Maine’s largest federally qualified health organization, said it is in urgent need of funding.
House expected to vote on funding bill, including delay of hemp restrictions
The measure includes legislation that would delay for one month a looming federal ban on many intoxicating hemp products
HHS Awards $77 Million to Strengthen Substance Use Prevention, Treatment, Crisis Services, and Mental Health Services
HHS, today announced on Overdose Awareness Day that it has awarded $77 million in new grant funding to strengthen substance use prevention.
Funding Cuts, Public Trust, and AI Dominate Concerns for Physical Scientists, Survey Reveals
A new AIP survey finds nearly a fifth of physical scientists have lost federal funding since early 2025, with international travel and recruitment also affected.
Stability AI Raises $76M Series B, Backed by Major Entertainment Companies
Stability AI, the startup behind image generation model Stable Diffusion, has raised $76 million in Series B funding, bringing its total funding to $232
By 2030, US To Cut Health Funding To 18 Countries By 59%
The United States plans to cut its health funding to 18 countries by 59% of pre-2025 levels by 2030, according to a Public Citizen analysis of the bilateral
House lawmakers return to Washington with stopgap funding bill among priorities
The bill would keep the federal government fully funded through early December, removing the possibility of a shutdown before the midterm elections
House lawmakers return to Washington with stopgap funding bill among priorities
The bill would keep the federal government fully funded through early December, removing the possibility of a shutdown before the midterm elections
Proposed Medicaid Cuts Could Cost Maternal and Children’s Health Care Billions
An estimated $19.7 billion in Texas health care funding is at stake under proposed changes to Medicaid payments. The proposed rules from the Centers for
Roanoke gets state funding injection for health sciences
Virginia allocates $174 million for Virginia Tech Carilion School of Medicine building and supports health sciences growth in Roanoke.
Contra Costa Health facing $730M deficit over next five years
Contra Costa County's health department is staring at a deficit of $730 million over the next five years because of federal and state funding cuts, county health officials said at last week's Board of Supervisors meeting.
Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices
Hey all, Jason here. When this hits your inbox, I should be en route to the airport — not to go anywhere myself, just to pick up my better half. I must admit, it’s been strange to be home alone (well, with two dogs) for two weeks! Really lets me “optimize” to spending more time on reading/writing/working, whether that’s healthy or not! Looking forward to getting back into a (somewhat) more balance routine. Subscribe or Support by Upgrading Compare Notes With the People Who Built Modern Fintech Partner content: Remitly CEO Sebastian Gunningham. Increase founder Darragh Buckley. Linda Du, Co-founder & President at Valon. They’ll unpack the decisions behind building and scaling major financial products: what they got right, what broke, what they would do differently, and how AI and new infrastructure are changing the operator playbook. Most events tell you where fintech is going. NerdCon puts the people who built the present in the room and asks them what comes next. Expect an operator-led conversation grounded in real products, real trade-offs and lessons earned the hard way. Fintech Business Weekly readers save 20% on Regular tickets with code FBW20 before standard pricing ends September 11. Meet the Builders Things To Know & Other Good Reads Advent and Stripe Abandon $50 Billion Pursuit of PayPal (Bloomberg) Trump Family’s New Crypto Bank Is Backed by Abu Dhabi Sheikh (Wall Street Journal) The multiplying risks of financing data centres (FT) Let the Bond Market Speak (Wall Street Journal) Did we waste a crisis? Modest proposals to reform deposit insurance. (Fintech Takes Banking) Untangling Guggenheim: How Private Credit Built Its Own Universe (Net Interest) The Hater’s Guide To Circular Financing — Part One (Ed Zitron) Fiat Ventures Rebrands to FGV Capital, Announces $35M Oversubscribed Fund II (BusinessWire) Socure Announces Strategic Growth Investment at $5.2B Valuation and Acquires Agentic Operations Platform Fravity (Socure) Listen: When Consumer Protection Disclosures Work Too Well (Consumer Finance Monitor Podcast) Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices When Andreessen Horowitz led EarnIn’s $39 million Series B in 2017, Alex Rampell, a partner at the storied venture capital firm, described EarnIn’s small-dollar advance product as “free,” relying on “entirely on voluntary contributions instead of fees.” Rampell favorably compared EarnIn’s approach to typical payday loans, writing, “Payday loans historically have had the potential to be a slippery slope for consumers into financial distress: opaque systems and steep fees that are hard to repay and set individuals back further than where they started. For many Americans living paycheck to paycheck, that kind of slide into debt can be extremely difficult to recover from.” But EarnIn’s product — which, the company says, isn’t a “loan,” legally speaking — ends up being anything but free for most users. While it is technically possible to take a no-fee advance from the company, most users incur “Lightning Speed” (instant funding) fees and/or ostensibly optional tips that combined can equate to annualized percent rates that can reach over 1,000%. With an average term of 9.77 days, even fees and tips that are small on an absolute dollar basis are equivalent to high APRs on an annualized basis. A lawsuit filed last week by Colorado Attorney General Phil Weiser against EarnIn describes the company and its product and business practices quite differently than Andreessen’s Rampell; “EarnIn’s business practices are unfair because they are immoral, unethical, oppressive and unscrupulous,” the complaint, filed in District Court in Denver, Colorado, says. EarnIn’s marquee product, Cash Out, isn’t a loan, the company says, as Cash Out is not “[f]orward [l]ooking” because “[t]he money is transferred based on earnings to date,” does not carry a mandatory fee to access funds, and is “non-recourse,” meaning EarnIn cannot pursue recovery from users who don’t repay advanced funds. EarnIn is sometimes referred to as an “Earned Wage Advance” service. Though, unlike some others in the broader category, EarnIn does not integrate with employers’ payroll or time and attendance systems. Rather, EarnIn attempts to verify a user’s income and employment, by examining direct deposit transaction data in their linked external bank account, by using GPS location and Bluetooth data to estimate a user’s time spent at work, if they work in a fixed location, and/or by having a user provided a work email address. While repayment is theoretically optional, as EarnIn would have no recourse, such as reporting non-payment to the credit bureaus or a collections agency, this is anything but clear to users of the EarnIn app, Colorado’s complaint argues. During the process of taking a Cash Out, users must agree to a preauthorized debit of the amount advanced, plus any expedited funding fee and/or tips. Though users technically can revoke this ACH authorization, the fact that they have this right isn’t presented to users during the Cash Out process, but rather is included in linked terms and conditions few users are likely to actually read. And users who do wish to revoke their ACH authorization must do so three or more days before the scheduled transaction date by emailing EarnIn’s customer support. Similarly, EarnIn’s marketing claims that it carries “no interest” and “no mandatory fees” is technically true, but is not the reality for many of the app’s users, the Colorado complaint argues. Further, EarnIn has extensively marketed to users the ability to “access your pay today,” to get “instant” funds, and to get funds “the same day you work” — when, in reality, this speed of access was only possible by paying the additional, undisclosed Lightning Speed fee. The Colorado complaint highlights this contradiction specifically, noting: EarnIn tells consumers that they can ‘Make any day payday with EarnIn’ and that there no ‘hidden’ or ‘mandatory fees.’ For a consumer to access their pay on the same day requested, they would have to pay the Lightning Speed fee. In the fine print of the advertisement EarnIn discloses that ‘[f]ees apply to use Lightning Speed,’ a direct contradiction to the larger text of the advertisement, and a fact that would not be immediately understood by a consumer as ‘Lightning Speed’ is not defined nor explained. Like other small-dollar lending services, rather than explicitly charge interest, EarnIn collects a markup on the optional Lighting Speed fee, which, given the nature of the transactions, many users opt for, as well as offering users the option to leave “tips.” EarnIn leverages either Real-Time Payments (RTP) rails or push-to-card via debit rails if a user opts for the optional Lightning Speed. But while these capabilities cost EarnIn, on average, $0.075 or $0.20 per transaction, respectively, EarnIn charges users significantly more. Initially, EarnIn charged as little as $1.99 for Cash Outs up to $24. But EarnIn has hiked these fees multiple times, and now charges $4.99 for Cash Outs up to $75 and $6.99 for those over $75. According to the Colorado complaint, EarnIn leverages “dark patterns” to manipulate users and to make it more difficult to avoid tipping. Examples of these “road blocks” highlighted in the complaint include: As of 2023, in the EarnIn app, a consumer attempting to get a loan under the default settings had to make at least eighteen separate taps to complete the transaction and reduce the tip to $0. There is an alternative method to leave a $0 tip, via the “Custom tip” feature, but EarnIn made this option difficult to access by visually deemphasizing it and positioning it near devices’ “home” button. Using language and imagery such as “Tip to pay it forward,” “Your generosity supports the service + helps,” “Your tips make a difference,” and “[t]he APR for this cash out is 0%. Your tips help support us.” While Lightning Speed and tipping are, in theory, both optional, in practice, users nearly always ended up paying something. According to the Colorado suit, users were charged either a tip or an expedite fee for more than 92% of transactions, with an average APR of nearly 388%. And, although the advances are “non-recourse,” EarnIn successfully collects on nearly all transactions — 99.18%, according to the complaint, which, Colorado argues, “demonstrat[es] that EarnIn’s advances function as high cost loans, not voluntary payments.” The share of EarnIn users incurring fees — despite the product being marketed as 0% APR — is hard to reconcile with Andreessen investor Rampell’s favorable description of EarnIn vs. “opaque systems and steep fees” associated with payday loans, which, Rampell says, can be “extremely difficult” for borrowers to extricate themselves from. According to Colorado’s suit, EarnIn’s Cash Out product “trapped many consumers in extreme cycles of high-cost reborrowing.” The suit gives an example of one consumer in the state, who took out a whopping 1,151 loans, paying a total of $4,038.50 in Lightning Speed expedited funding fees on loans that averaged the equivalent of 1,421% APR. Another Colorado user, the suit says, took out 1,033 loans, paying $8,561.22 in tips and fees at an average APR of 1,539% . These types of usage patterns demonstrate “the severe and repeated financial harm caused by EarnIn’s illegal lending model,” the Colorado complaint argues. In aggregate, from January 2023 through July 2025, EarnIn extended 3.1 million loans to 56,778 users in Colorado — an average of nearly 55 transactions per person during the time period. EarnIn lent more than $300 million and collected more than $16 million from Colorado users in Lightning Speed fees and in tips. Ultimately, the Colorado complaint argues that “EarnIn’s Cash Outs are loans under Colorado law, and EarnIn’s contention that its product is not a loan based on its disclaimer of any legal repayment obligation lacks any real-world significance given how the Cash Out transactions actually operate in practice.” Colorado further argues that “EarnIn was not working with companies here in providing consumers with funds but acted as a third-party lender and charged illegally high rates, used deceptive design strategies to extract some charges, and trapped consumers in repeat borrowing. Colorado will continue to stand up for consumers and hold companies accountable when they violate our credit laws or attempt to evade them through misleading practices.” Colorado’s suit alleges EarnIn assesses finance charge in excess of that permitted by Colorado law, that EarnIn failed to make legally required disclosures to Colorado borrowers, that EarnIn made supervised loans to consumers without obtaining the requisite license, that EarnIn violated the state’s Deferred Deposit Loan Act, that EarnIn engage in unfair and deceptive trade practices, and that EarnIn made false or misleading statements concerning price. The suit seeks a court order enjoining EarnIn from violating relevant Colorado laws, for EarnIn to refund amounts charged in excess of state law, fees, costs, and penalties, and other relief the court deems to be just. 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. Q2 Quarterly Banking Profile: Five Quick Takeaways The FDIC released its quarterly banking profile, which is always worth a read, for the second quarter. The profile provides an aggregate snapshot about the overall health of the 4,238 institutions whose deposits are insured by the FDIC, who, collectively, hold more than $26 trillion in assets and saw a total net income of more than $90 billion in the second quarter. Net income was up 12% vs. Q1 2026, with lower provisions and realized gains on securities helping to drive the improvement, somewhat offset by increases in non-interest expense and applicable income taxes. Overall net interest margin was basically flat quarter over quarter (up 1 basis point vs. Q1 2026), though community banks saw NIM grow by 10 basis points, to 3.81%. Unsurprisingly, given that interest rates haven’t changed, unrealized losses on securities changed little, edging up slightly to $326.7 billion vs. $325.1 billion in Q1 2026. Aggregate credit quality has remained benign, with asset quality actually improving slightly in Q2. Overall, institutions reported a 9 basis point decline in their past-due and non-accrual rate, to 1.44%. Net charge off rate also declined by 2 basis points, to 0.57%. And finally, the FDIC’s deposit insurance fund stands at $161.1 billion, making the DIF reserve ratio 1.48% — above the statutory minimum of 1.35%, but still below the designated target reserve ratio of 2%. [Paid Subscriber Exclusive] Nissan Withdraws ILC App, State Associations Plan BankChain Alliance, FDIC Defines “Unsafe or Unsound Practice” For First Time Automaker Nissan withdrew its application to charter a Utah industrial loan company and its corresponding application to the FDIC for deposit insurance last week, on August 19th. 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Is Germany benefitting yet from the crisis in US research?
Science|Business - Table.Media partnershipScience|Business has partnered with Table.Media, a leading source of news about higher education and research in Germany. Each week, we are publishing one of each other’s stories to give readers an even broader range of insight into R&D policy across Europe.Drawing over 500 participants, the German Academic International Network conference in San Francisco brings together researchers, universities, scientific organisations and policymakers in the US as part of an attempt to recruit international talent for Germany. It also serves as an annual barometer for the uncertainty triggered by the Trump administration’s science policies. As was the case last year, Germany’s political presence was unusually strong: federal lawmakers, nine state ministers of science and research, and federal research state secretary Marcus Pleyer all attended. Joybrato Mukherjee, president of the German Academic Exchange Service (DAAD), has observed a marked shift at US universities a year after the Trump administration began sweeping interventions: the initial state of "shock and paralysis" has given way to a strategic approach to the situation. Universities are seeking new funding sources, mounting legal challenges against interventions and opening themselves up more to international collaborations, including with Germany, he said. Early-career international researchers with expiring visas are considered particularly vulnerable. Germany is benefiting from increased demand among this pool of young talent; the country’s 1,000 Minds Plus programme, designed in part to lure German academics back home, has already filled up around one-third of its capacity. Meanwhile, Markus Blume, Bavaria’s science minister and current chair of the federal Conference of Science Ministers, sees an "enormous outflow of talent from the US." An increasing number of international researchers want to leave. Applications to Canada have risen by 42% January, and those to Europe by 32%. Meanwhile, the number of people drawn to the US is plummeting. "In this context, Germany must position itself as a prime destination offering reliable conditions, institutional stability and academic freedom, including through smart collaborations," Blume told Table.Briefings.“Darkest hour”At the get-together in San Francisco, the former president of the US National Academy of Sciences, Marcia McNutt, highlighted the gravity of the situation on the ground in a keynote address. She described the present moment as the "darkest hour for the US scientific system." At the same time, she said that cooperation should be maintained, especially during a crisis. Established researchers in the US are less likely to leave. Ulrike Malmendier, a former member of the German Council of Economic Experts and an economist at Berkeley, explained why established researchers are not packing their bags and leaving the US in droves: working conditions and the concentration of talent at places like Berkeley and Stanford remain unparalleled. According to Peter-André Alt, managing director of the Wübben Foundation, which helps Germany attract international academics, political restrictions are not the only grievance voiced by US-based researchers. "There are evidently still many areas where, fortunately, unfettered research is possible," Alt told Table.Briefings. Instead, the primary complaint concerns the cost of living, which has "skyrocketed” to absurd levels. "Runaway inflation, like that currently seen in the US, is certainly no draw for young scientific talent,” he said. Return homeA growing number of early-career researchers from Germany appear to be considering a return home. Jörn Benzinger, who is responsible for recruiting early-career researchers from abroad at Ruhr University Bochum, reports numerous conversations with researchers who are taking a closer look at the German academic landscape."Germany has definitely moved more into the spotlight,” he said. States, university alliances and research organisations joined forces to recruit talent. Bavaria, Baden-Württemberg and North Rhine-Westphalia were prominently represented, as were alliances such as the Berlin University Alliance and the University Alliance Ruhr. Benzinger sums up Germany’s approach with a new formula: "collaboration is the new competition." He notes that it is becoming increasingly difficult for individual universities to gain international visibility, while regional research ecosystems and collaborations are growing in importance. Afraid to leaveThe crisis in the US academic sector is also straining transatlantic research relations. Benzinger reports that some US-based researchers had to decline brief invitations to Germany because they could not be certain of being allowed to re-enter the US afterward.He considers the simple poaching of researchers to be the wrong approach; what is needed, he says, are "reliable offers and long-term partnerships."However, Green Party politician Ayşe Asar, who also attended the conference, sees a significant need for improvement, particularly regarding career paths in Germany.While lifetime professorships and academic freedom certainly make Germany attractive, young researchers also require predictable career paths, tenure-track positions and flatter hierarchies.
Greenland research institutions halt new US collaborations citing mistrust
Although US President Donald Trump still harbours ambitions to take over Greenland, for US researchers his actions seem to have had the opposite effect. Over the summer, Greenland’s two largest research institutions, the Greenland Institute of Natural Resources and the University of Greenland, both announced policies of not starting new research projects with US researchers.Both institutions cite a mistrust of the US as a motivation for the decision. At the University of Greenland, the change of policy has already led to the rejection of specific proposals for new collaborations, rector Mari Kleist told Science|Business. “The reason is the changed political situation between the US and Kalaallit Nunaat [Greenland], and the uncertainty that the American interest in Kalaallit Nunaat has created,” she said.For the Greenland Institute of Natural Resources, a partially state-funded environmental research institution, the decision was also prompted by a lack of trust in US intentions. In a July interview with local broadcaster KNR, director Josephine Nymand cited concerns about data ownership, US “influence operatives” and social media monitoring of researchers entering the US.The Greenland Institute of Natural Resources has long collaborated with the US National Science Foundation (NSF). The policy change will not affect these existing partnerships but will apply to collaborations with new, “unknown” partners, Nymand said. At the University of Greenland, the policy is the same.The changes come amid proposals of severe cuts to the NSF, which would likely also see the US research presence in Greenland reduced. In spite of this, when asked about the Greenlandic policy change, the NSF remained optimistic of its continued presence in Greenland.“We are grateful to our partners in Greenland for their collaboration in advancing scientific knowledge and training the next generation of researchers. NSF remains committed to the long-term collaborations with Greenland that enable scientific research near communities and on Greenland’s ice sheet,” an NSF spokesperson told Science|Business.Fewer US researchers in GreenlandMost research published on Greenland is on natural science topics such as the cryosphere, ice dynamics, permafrost and climate change. In recent years, US researchers have been the most prolific publishers on Greenland.The US research presence in Greenland goes far beyond the capital of Nuuk, where the two research institutions are located. It includes the Pituffik Space Base in northwest Greenland, various projects in settlements and research stations along the coast, as well as research stations on the Greenland ice sheet itself.The largest of these sites, Summit Station, is located at the highest point of the Greenland ice sheet, about 3,200 metres above sea level, and since the 1980s it has been used for drilling cores out of the ice sheet. These ice cores provide valuable information on the global climate going back at least 100,000 years. About 30 kilometres from Summit Station, the Danish-led Greenland Ice-core Project (Grip), funded by the European Research Council, is also drilling ice cores. Although they initially competed, the relationship between the two research teams has “long been amiable,” Jørgen Peder Steffensen, a Danish researcher who has been part of Grip for more than 40 years, told Science|Business.However, since Trump took office in early 2025, Steffensen has noticed a reduction in US research in the country. “Several of our American partners did not make it into the field this year. Their field seasons were cancelled because they lacked the budget,” he said.He ascribed part of the reduction in US researchers to a renovation of Summit Station. “A very large share of NSF funding has gone into renewing the station. Money has been taken from research and allocated to rebuilding it,” he said.A report published in August by Arctic Hub confirms Steffensen's observations of fewer US researchers. It shows that US research publications on Greenland took a dip towards the end of the period spanning 2015 to 2024. In 2024, before Trump took office, the number of publications had fallen from an average of about 250 articles a year, to just 164, second behind Canada at 169.Data from the NSF logistics provider Battelle also shows a reduction in US research presence in Greenland in recent years. In 2023, Battelle counted 48 projects across 78 locations, but in 2025 that number had fallen to 40 projects across 38 locations. And while relations with US personnel in Greenland have remained strong, some tensions have arisen since Trump took office. “On a personal level, there is nothing. But it’s hanging in the air. It hangs unspoken,” Steffensen said.Cutting ties with US researchers entirely would come at a higher cost for the ice core researchers than the Nuuk-based institutions. To get cargo to and from their bases, both Grip and Summit Station rely on unique, ski-equipped Hercules LC-130 aircraft operated by the New York Air National Guard. Without these, maintaining a research base on the Greenland ice sheet would not be viable on current budgets, Steffensen said. “[If the Hercules planes were not available], we would have to think outside of the box. We would have to use smaller planes, and we would have to build a base closer to the coast. But staying in our current location would be too expensive and it would create a huge carbon footprint,” he said.Suspicious people in NuukIn her explanation of the severed US ties, Greenland Institute of Natural Resources director Josephine Nymand compared the decision to past situations when the institute had to cut ties with China and Russia, the latter due to Russia’s full-scale invasion of Ukraine in 2022. And although the current situation is less severe, the comparison reflects the seriousness with which Nuuk sees the US threats. “From Greenland’s perspective, the US may not look so different from Russia right now: a much larger neighbouring power threatening to invade,” Lin Alexandra Mortensgaard, a researcher of international politics in the Arctic at the Danish Institute for International Studies, told Science|Business. “From a European perspective, it is not a comparable situation, because we are entangled with the US on all possible fronts and do not want to destroy more than is absolutely necessary. But from Greenland’s side, there may well be a need to send a clear signal to the US,” she went on. Suspicions have been fuelled by instances of Trump-affiliated people in Greenland trying to persuade Greenlandic citizens to support a US takeover. The most prolific among them is Tom Dans, a former venture capitalist and pecan farmer who was appointed by Trump as the chair of the United States Arctic Research Commission. Observers fear that he is now using research to achieve a US takeover.“Greenland is a small society with a small population, so when Americans with unclear affiliations wander around, trying to be good friends with people, and you don't know what they want, that creates mistrust. This probably played into the research institutions taking these drastic steps,” Mortensgaard said.Related articles:The US ‘golden age’ science strategy: what Europeans need to knowEU polar research melts into the backgroundAnchor Greenlanders in Arctic climate research, experts tell EU ahead of policy updateAnd although Greenland’s population is small at just 57,000, for Mortensgaard, it serves as a microcosm for the geopolitical situation as a whole: global powers fighting for their interests to the detriment of the common interest. Arctic research already suffered when collaborations with Russia broke down in 2022, she said, so a split with the US would be a serious hit to climate science.“The Arctic climate system does not respect borders or geopolitical divides. When collaboration across those lines suddenly becomes impossible, it is a huge problem for knowledge production,” she said. European alternatives?The Greenland Institute of Natural Resources is funded partly by research grants from external sources like the NSF. To replace the US funding, the institute will have to look for alternative revenue sources, and Nymand said that she is looking to Europe for those. Aside from Denmark, of which Greenland is formally a part, she also noted increased interest in research collaborations from the UK, France and Switzerland. Kleist of the University of Greenland told Science|Business that it was too early to say if the severed US ties would lead to more collaborations with Europe. Meanwhile, Mortensgaard believed that the tensions in Arctic research could well leave room for closer European partnerships, or stronger links with Canada. “I spoke to Canadian researchers who had long-standing relationships with American colleagues and who collaborated with the US Navy, but who had gotten worried that their data on sea ice could be used if Trump suddenly decided to follow through on his threats of invading,” she said. “Like Canada, I think Greenland is considering creating closer ties to Europe and I think European capitals will be open to this,” she said.
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