Capital One & T-Mobile Partner on Credit Card Launch, Affirm Lands $750M Backing, Pagaya Adds $500M Auto Deal

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This week is sponsored by our friends at Fintel Connect.

Fintech partnerships took center stage. T-Mobile and Capital One rolled out a new Visa card designed to turn everyday purchases into rewards, while Affirm signed a $750 million loan purchase deal with New York Life, strengthening its funding pipeline. Pagaya added another major win, securing a $500 million auto loan agreement with Castlelake as private credit firms keep expanding their role in consumer lending.

Regulators are also in focus. The Federal Reserve’s October SLOOS survey shows banks slowly easing lending standards, even as VantageScore data points to higher delinquencies and TransUnion reports a widening credit gap between super prime and subprime consumers. At the same time, the CFPB rollback under the Trump administration continues, with new court rulings reinforcing the Fed’s discretion over fintech access to payment rails.

Earnings this week underline the divide between disciplined lenders and high-growth platforms. Upstart and Dave both posted their strongest quarters yet, while Visa and PayPal delivered steady gains in payments and cross-border volume. LendingTree, OneMain, and Rocket Companies rounded out the quarter with improved margins and cautious optimism for 2026.

Here’s what’s happening across fintech right now.

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