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Tyra Banks explains why she wasn’t on ‘Project Runway’ after on-air clash with Law Roach
Tyra Banks explained why wasn’t on ‘Project Runway’ after her on-air clash with Law Roach in episode 5: ‘People lost their damn minds,’ Banks tells EW.
Alexandria residents pick safety, health care access and youth programs as focus of next health plan
The health department announced the results Tuesday and is recruiting residents for workgroups that will write the plan's specific actions.
Nobel prize in physics 2026: high energy cosmic neutrinos
Second up for the 2026 Nobel Prizes was the award for physics. And this year it went to just one scientist, Francis Halzen. The Belgian physicist won the prize based on his work on the IceCube detector that observes ghostly particles called neutrinos. Science editor Ian Sample tells host Madeleine Finlay how Halzen came up with the brilliant idea to use sensors buried in the ice to detect these extraterrestrial particles.
Brooke Elliott breaks silence on ‘Sweet Magnolias’ cancellation: ‘One last time... pour it out’
Brooke Elliott has finally broke her silence on ‘Sweet Magnolias’ abrupt cancellation after season 5.
Private owner closes downtown East Lansing parking lot, upsetting businesses
Bob Metzger followed through on threats to close a large portion of a downtown East Lansing parking lot because of a thwarted high-rise development.
Saoirse Ronan addresses husband Jack Lowden’s 007 rumors after admitting she wants to play a Bond villain
Saoirse Ronan discussed her husband Jack Lowden’s rumored new 007 role after admitting she’d love to play a Bond villain one day.
‘Vampire Diaries’ star makes first major public appearance in 7 years
Steven R. McQueen, who starred as Jeremy Gilbert across six seasons of ‘The Vampire Diaries,’ reunited with his former castmates at a Paris fan convention.
Hood: Pay for performance, not for politics
RALEIGH — The North Carolina General Assembly approved substantial pay increases for public schoolteachers earlier this year. If a bipartisan commission has its way, teacher compensation will soar over the next few years, as well. Fiscal conservatives should welcome these developments — so long as schools use higher pay as a means of attracting and retaining highly effective teachers, not of scoring political points or placating interest groups.
Someone's modded Diablo 2 for VR, and seeing the world through your character's eyes brings a whole new dimension to the series
First-person Diablo 2, in virtual reality, is a radical new way to experience the classic old game.
‘Crystal Lake’ star Linda Cardellini on tackling horror icon in her post-Emmy era (exclusive)
Linda Cardellini is Mother (Voorhees). The ‘Crystal Lake’ star talks about her biggest horror role to date, paying homage to Betsy Palmer’s ‘Friday the 13th’ character, and what’s next after her Emmy win.
Julia Stiles says it was ‘very wrong’ to play up dance training for ‘Save the Last Dance’ at the time
Julia Stiles said it was ‘very wrong’ of her to play up the dance training she had for ‘Save the Last Dance’ at the time while looking back at a 2000 interview she gave on set of the film.
Michael Douglas recalls conversations with Rob Reiner about having sons with ‘serious drug issues’
In his new memoir, Michael Douglas recalled conversations with Rob Reiner about having sons with ‘serious drug issues.’ Douglas’ son Cameron previously served a seven-year prison sentence for drug possession. Reiner’s son Nick wrote a semi-autobiographical film about his addiction.
‘The Love Witch’ at 10: How Anna Biller created a film that real witches would want to see
‘The Love Witch’ turns 10 in November 2026, and director Anna Biller sat down with EW to reflect on the feminist, ‘60s-inspired horror film and what audiences may have missed upon its release.
Ava DuVernay Returns With One of Netflix’s Most Political Docs Ever
The Oscar nominee’s new film, ‘14th,’ puts Trump administration policies in a grand and disturbing historical context — while serving as a stark call to action for Hollywood.
Sunny Hostin says Cynthia Erivo phoned her with concerns over ‘The View’ host’s remarks about Cornell case
Cynthia Erivo called Sunny Hostin with concerns over ‘The View’ cohost’s controversial remarks about the alleged Cornell sexual assault case: ‘Sis, I know you.’
Confirmed Lineups: Germany U21 vs. Georgia U21
Antonio Di Salvo’s Germany U21 side entertain Georgia in Bielefeld in the final day of the group stage in the U21 Euros qualifiers. The hosts will secure their place for the tournament in Albania an...
Dakota Fanning reveals valuable lesson she learned from working with Kurt Russell
Dakota Fanning reveals the valuable lesson she learned from working with Kurt Russell on the 2005 sports drama film ‘Dreamer.’
Every ‘Scream’ opening scene, ranked
Do you like scary movie opening scenes? No franchise does killer starts like ‘Scream,’ and we’re ranking all of the star-studded sequences.
‘Boy Meets World’ star Matthew Lawrence recalls ‘dysfunction’ on ‘Girl Meets World’
‘Boy Meets World’ star Matthew Lawrence spoke to EW about the ‘dysfunction’ on the ‘Girl Meets World’ set, and his ‘strange’ experience guest-starring on the spinoff.
Top Super PAC for Senate Democrats Raises Record $151 Million in Third Quarter
Democratic Senate candidates have generally out-raised Republicans, but are struggling to match outside spending from Trump-affiliated groups.
‘Adventure Time’ creatives break down its most haunting episode
Talk about a pillow fright! ‘Adventure Time’ writers and storyboard artists talk about how they created one of the cartoon’s most haunting episodes ever, ‘Puhoy!’
Bette Davis knew her ‘era’ was ‘over’ when she saw Michael Keaton as Batman
Legendary Hollywood star Bette Davis died just days after she saw a giant poster of Michael Keaton as Batman: ‘I’ve come here to pass the torch.’
Wealthspire Launches $2.9B Sports and Entertainment Practice
Wealthspire’s new vertical will work with athletes, entertainers and creators, with managing director Frank Marzano leading the practice.
Into the Slaughterverse: How ‘Something Is Killing the Children’ cut into film, TV, and books
Into the Slaughterverse! ‘Something Is Killing the Children’ creator James Tynion IV talks expanding his comics into a horror universe with a film, animated TV show, and prequel novel.
Tyra Banks re-releasing viral ‘Modelland’ book 15 years after it failed (exclusive)
Tyra Banks exclusively reveals to EW that she’s re-releasing her ‘Modelland’ book after its viral resurgence online amid her mom’s secret health battle: ‘A deep, almost depression for me.’
Baltimore’s small business owners want the city to codify more protections
Zehbras CrossFit is the thriving, Black-owned, affordable, and accessible fitness space owner and CrossFit coach Jeanelle Spencer long wanted to bring to Baltimore’s Black Butterfly. On any given weekday afternoon, barbells slam onto rubber mats as Spencer’s neighbors in Waverly cycle through burpees, pull-ups, squats, and more in the small gym at 3302 Greenmount Avenue. […]
Fantasy Football Week 5 Waiver Wire: 5 Best Pickups
Emanuel Wilson and Will Shipley are among the best options to consider on the fantasy football waiver wire for Week 5.
Best Fantasy Football waiver wire pickups for Week 5
The fantasy football season is in full swing, and with teams going on bye this week, waiver wire pickups are getting even more important.
StoneX maintains Buy rating on Sphere Entertainment, $125 price target
StoneX maintained their Buy rating on Sphere Entertainment's stock with a price target of $125.00.The price target implies an upside of 12.8% from the Oct 5 close of $110.80.Key takeaways from the analyst noteLong-Term Growth Potential: Despite recent challenges, Sphere Entertainment is expected to…
How ‘Little Shop of Horrors’ found the perfect voice for Audrey II
‘Little Shop of Horrors’ casting director Margery Simkin shares the story of how she found the perfect voice for Audrey II.
CD Projekt Red outlines which Witcher 3 Remastered fixes are coming next, but there's still division about the changes
PS5 performance improvements are among the top priority issues CDPR is working on fixing for The Witcher 3 - Remastered edition.
BTIG maintains Buy rating on Sphere Entertainment, $160 price target
BTIG maintained their Buy rating on Sphere Entertainment's stock with a price target of $160.00.The price target implies an upside of 44.4% from the Oct 5 close of $110.80.Key takeaways from the analyst notePositive Long-Term Growth Potential: Sphere Entertainment is positioned uniquely in the grow…
Patient Dies By Suicide After 'Insurance Issue' Delayed Medicine For Lung Disease Flare-Ups
By Lauren Sausser and KFF Health News HealthDay ReportersTUESDAY, Oct. 6, 2026 (HealthDay News) — Kenney Blewett was diagnosed with lung disease more than a decade ago but started experiencing flare-ups this year that made him feel like he couldn’t breathe. Blewett, of Kyle, Texas, described those ...
Star Wars: Galactic Racer launches on Amazon Luna as part of Prime subscription
"Luna players can jump into the single-player campaign the moment it launches without needing to own a console or wait for a lengthy download"
Supermassive Games suffers layoffs as more than 70 developers seem to have left the company this week
According to a LinkedIn post by Supermassive's IT and facilities director, over 70 developers have been laid off as of this week.
"This is Call of Duty's definitive extraction shooter experience" - Infinity Ward details the new DMZ mode in Modern Warfare 4
Infinity Ward has unveiled ambitious plans for Call of Duty: Modern Warfare 4's extraction mode, DMZ.
NBA 2K25 servers to shut down on December 31, single-player story mode will become unplayable
Decision to sunset 2K25 follows 2K's trajectory of delisting NBA games over the course of two years
Packers’ Matt LaFleur unhappy with Green Bay after Buccaneers win
Why was the HC upset after a win?
Jim Bakker, disgraced 1980s televangelist, dies at 86
Jim Bakker, pioneering televangelist, dies at 86. His wife Lori made the announcement.
Two Overlooked Stars Keeping Packers Alive
The 2026 Green Bay Packers look and feel like a bad team that has miraculously beaten even worse teams. The coaching and scheme have not consistently aligned with the players’ abilities to execute, while gut-wrenching injuries have left Green Bay relying on backups across multiple position groups. And it is only Week 5. For a …
‘American Idol’ alum Caleb Flynn sentenced to life without parole for murdering wife
‘American Idol’ alum Caleb Flynn, who competed in season 12, was sentenced to life without the possibility of parole for murdering his wife Ashley as she slept in their home on Feb. 16.
Canonsburg reviews business growth in workshop
Canonsburg officials and business leaders met last week to review the past six years of economic growth and plan for the future. The borough has seen a marked upswing in downtown business growth in recent years thanks to targeted redevelopment efforts, local business associations and a focus on diverse local events to drive customer traffic. […]
Carson Daly returning for ‘TRL’ reunion special — but it’s not on MTV (exclusive)
Carson Daly will return for a ‘TRL’ reunion special recorded at the MTV Times Square studio where ‘Total Request Live’ used to air. Major surprises are in store for the Roku special.
Knicks’ 3 Most Intriguing Regular Season Matchups
As the regular season approaches, the Knicks will officially go from the hunters to the hunted. After a wild offseason, especially in the significantly strengthened Eastern Conference, the defending champions will face much tougher challenges this season. Teams in the East like the Miami Heat, Toronto Raptors, and Philadelphia 76ers all made moves to strengthen …
Cresset Aims for $13.1B Trust Business with NAT Deal
Cresset would fold its existing $5.5 billion trust division into the $7.7 billion NAT platform while continuing to grow through clients, acquisitions.
GTA 6 devs tried "not to jump on the bandwagon" of passing trends and instead created their "own slanted, overblown versions"
Grand Theft Auto 6 developers knew development would take "years and years," so avoiding trends was important in making the game "feel vital" come launch.
James Gunn dispels Wonder Woman casting rumors while roasting Frank Grillo
James Gunn addressed the Adria Arjona-Wonder Woman casting rumors by roasting DC star Frank Grillo. ‘You don’t believe he doesn’t know anything? Exhibit A.’
Blue Turf Thinkers: Biomedical Research Institute investigates harmful diseases
At each Boise State home football game, the “Blue Turf Thinkers” series honors outstanding groups...
‘The Batman Part II’ halts production as director Matt Reeves steps away for personal reasons
After years of delays, ‘The Batman Part II’ has ‘temporarily paused’ production as director Matt Reeves ‘focuses on a family matter.’
Bills player dismisses Patriots hero as ‘practice squad player’
After a 0-3 start to the season, the New England Patriots were able to bounce back in a big way on Sunday afternoon, pulling off an upset win over the Buffalo Bills on the road after Patriots wide receiver Efton Chism III made a ridiculous catch to give the Patriots the lead with under two…
Ninja Theory begins laying off staff, according to employee posts
Ninja Theory has begun laying off employees.
Darling completes sale of sausage casings business to SARIA
Sale positions company for continued growth and value creation potential while optimizing portfolio and reducing debt.
The upcoming D&D interpretation of World of Warcraft sounds great, but don't expect it to work like the MMO does
World of Warcraft is being given the Dungeons & Dragons treatment in a massive new book. But D&D: WoW works quite differently to the MMO.
Behind the Seams | Wildwood
Go behind the scenes at LAIKA Studios for an up-close look at the extraordinary costumes of ‘Wildwood,’ the studio’s most intricately designed stop-motion film yet. Nearly 20 years after ‘Coraline,’ LAIKA’s artists and designers reveal how every tiny stitch, button and layer of fabric is handcrafted and engineered to help bring its puppets to life, combining costume design, fabrication and animation at an astonishing scale.
Claims that genAI speeds up PC ports of classic games are either "false" or missing the point, says Banjo Kazooie: Recompiled developer
A Banjo Kazooie: Recompiled developer has spoken out against the idea that generative AI allows for faster PC ports and, therefore, better preservation.
Lawrence brothers take on missing ’90s stars in graphic novel, ‘The Lawrence Brothers Detective Agency’
Joey Lawrence and his brothers, Matthew and Andrew, take on missing ’90s stars and nostalgia prisons in the new graphic novel, ‘The Lawrence Brothers Detective Agency.’
Ninja Theory developers announce they are facing redundancy, as the studio starts laying off staff following widespread Xbox cuts
Ninja Theory staff on LinkedIn have shared either farewell messages or sombre posts on the ongoing redundancy process happening at Ninja Theory.
Sony introduces AI upscaling to base PS5; Marvel's Wolverine and Ghost of Yōtei are first games to implement new tech
PlayStation Spectral Super Resolution (PSSR) remains exclusive to the PS5 Pro, which SIE says is the "gold standard"
Nations League: the chances of reaching the quarter-finals 👀
Are Les Bleus in a strong position?In this edition of the Nations League, as in the previous one, the group stage will be followed by quarter-finals.The top two teams in each of the four groups will q...
ACSH in the Media: Yahoo News, RealClear, Science & Culture, and More
From cancer and cannabis to perverse research incentives, we’ve been busy confronting nonsense. Here’s a roundup of recent media appearances and pickups featuring ACSH experts across the web, including coverage in Yahoo News, RealClearHealth, RealClearScience, and Science and Culture.
Research Shows These 10 Diets Are Linked to Healthier Aging
A new study found that many different diets can slow biological aging.
Universal Expands EMEA Retail and Partnerships for 'Shrek 5'
Universal builds excitement for 'Shrek 5's' summer 2027 release with new EMEA retail, events and partnerships. Donkey spin-off film set for 2028 release.
Millions return to The Witcher 3 as the Remastered game records another Steam personal best and sales skyrocket
CD Projekt Red's overhaul of The Witcher 3 is pulling players back in their millions, while also attracting plenty of new ones.
Jagex responds to use of generative AI in RuneScape trailer made by "trusted external partner"
Developer removes promotional material as it investigates situation, says it highlights "an issue with our own processes which we must address"
'Totally Spies!' Expands Licensing with Apparel and Jewelry Deals
Banijay Kids & Family announces new "Totally Spies!" licensing agreements spanning apparel, jewelry and publishing as the franchise marks 25 years.
Ace Combat 8 is far and away the series' biggest launch on Steam
Despite releasing in a busy period, Ace Combat 8: Wings of Theve has already set new records for the flight action series.
As Twin Cities suburbs grow more diverse, some old political patterns persist
City councils tend to be whiter than the places they represent. Some politicians and advocacy groups want that to change.
Mr Bean Brand Expands with New Global Licensing Partnerships
Banijay Kids & Family announces expanded Mr Bean licensing deals including Royal Stacks burgers, apparel, watches, toys, and arcade games worldwide.
TendedBar installs countertop beverage system at Clearwater entertainment center
TendedBar has installed its countertop beverage dispensing system at Launch Family Fun Center in Clearwater, Florida, according to a company LinkedIn post.
Entertainment complex with restaurants, bar, arcade coming to Nine Mile
A new entertainment complex is coming soon to the growing Nine Mile area at 1420 W. Nine Mile Road offering upscale Southern Creole dining, immersive virtual reality gaming, draft beer and bourbon walls and more.
Arc Raiders is getting a free trial to celebrate its biggest update yet
Very soon, anyone who wants to play Arc Raiders without paying for it can do so for four days.
How to get up to $10,000 for your farm stay startup
Airbnb partners with American Farmland Trust to provide grants to producers who want to add farm stays to their business. Learn more at Oct. 14 webinar.
UTSA ousts Rice 16-14 in defensive-driven battle
UTSA defense steps up in Houston, avoids upset in the “trap game from hell.”
Teddy Bear Clinic at Kootenai Health
Kootenai Health is inviting children to bring in their favorite stuffed animal to receive "special check ups" and enjoy a variety of activities
White House tells ‘Big Bang Theory’ creator to ‘seek psychiatric help’ after he slams Donald Trump
Chuck Lorre is the latest Hollywood legend to lock horns with the White House, which suggested via a spokesperson he ‘seek psychiatric help’ after Lorre called Donald Trump a ‘bloated orange piece of s---.’
Patriots Pull Off Tight Upset Win Over Division Rival Bills
The New England Patriots escaped with a tight win over the Buffalo Bills.
Ethan Hawke names surprising thriller co-starring ex Uma Thurman as his breakout: ‘Changed my life’
If you ask Ethan Hawke, it wasn’t ‘Dead Poets Society’ or ‘Reality Bites’ that gave him his big break — it was this under-seen, experimental thriller from a master of indie cinema that made him a star.
As Music Instrument Buyers Go Upscale, Fender Overhauls Online Experience
Fender is revamping its online presence amid a shifting market for musical instruments moving toward premium offerings, vintage sounds, and online sales and information.
Britney Spears and Natalie Portman understudied this Broadway star’s breakout role in the ’90s
Laura Bell Bundy is looking back on a pair of superstar understudies who shadowed her during her breakout performance in the off-Broadway musical ‘Ruthless!’ — Britney Spears and Natalie Portman.
Julie Bowen reveals what ‘Modern Family’ cast talks about in group chat
Julie Bowen is giving ‘Modern Family’ fans an inside look at what the cast of the beloved sitcom talk about in their hyperactive group chat: ‘We’re always chatting.’
Tencent Music Entertainment Group (TME) Stock Sees Modest Fair Value Cut After Analyst Caution
Tencent Music Entertainment Group has seen its fair value estimate move from US$13.17 to US$12.58, signalling a modest trim to the price target in the latest update. This shift lines up with recent analyst commentary that points to more cautious assumptions on growth and execution, including a move by one firm to a Hold rating even as others still see upside potential. As you read on, you will see how these price target adjustments fit into the broader, evolving narrative around Tencent Music...
Alan Alda opens up about Parkinson’s diagnosis: ‘I don’t want to wish it away’
Alan Alda says the first Parkinson’s symptom that he experienced ‘was not that well-known’ at the time, adding that he had ‘no twitch, no tremor’ and ‘no problems with [his] voice.’
Colorado residents fight back against Verdad's 22-well plan: 'It's about health and safety'
"People are upset about this site."
Modders are furious as Claude-powered mashup mods flood social media
A wave of AI-decompiled mashup mods has taken over X/Twitter this week.
PlatinumGames boss hints he wants to expand Bayonetta as Stellar Blade director calls the series "indispensable"
PlatinumGames president Atsushi Inaba says he "strongly wants" to expand Bayonetta, three years after series creator Hideki Kamiya left the studio.
Sylvester Stallone details ‘physical’ altercation with Richard Gere on ‘The Lords of Flatbush’ set
Sylvester Stallone recalled his on-set tension with Richard Gere during the filming of ‘The Lords of Flatbush,’ which Gere later exited.
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.
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