Maybe I care too much about market power and consolidation, but this part struck me:
> [Simple] was purchased by BBVA in 2014.
> BBVA said in January that it would be shutting down Simple later in 2021. The decision came from the company “reassessing its goals” as part of a planned sale to PNC Bank, which reached an agreement to acquire BBVA’s US operations in November 2020.
The consolidation problem seems to be getting worse everywhere. [1]. Gotta imagine they're connected.
> [Simple] was purchased by BBVA in 2014. > BBVA said in January that it would be shutting down Simple later in 2021. The decision came from the company “reassessing its goals” as part of a planned sale to PNC Bank, which reached an agreement to acquire BBVA’s US operations in November 2020.
The consolidation problem seems to be getting worse everywhere. [1]. Gotta imagine they're connected.
[2] https://concentrationcrisis.openmarketsinstitute.org/