RiskReversal Pod Stuart Sopp: Is America’s Resilient Consumer Headed for Crisis?
Oct 24, 2025
Stuart Sopp, CEO and co-founder of Current, provides insights into the dynamics of the American consumer and the banking landscape. He highlights how Current caters to underserved demographics, revealing the surprising resilience of lower-FICO customers. The conversation delves into the implications of AI on markets, comparing the current tech rally to past booms. Sopp also discusses consumer behavior in delinquencies, trends in bond markets, and the intriguing relationship between Bitcoin and institutional flows, painting a complex picture of the financial future.
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Banks Miss A Large Underserved Cohort
- Big banks don't serve Current's customers because their model targets higher FICO and incomes.
- Stuart Sopp says Current targets $25k–$75k incomes and sub-660 FICO customers who are underserved by incumbents.
Service Jobs Still Supporting Consumers
- Service-sector jobs (hospitality, healthcare, transportation, retail) are expanding and supporting Current customers.
- Sopp says hourly wages in those sectors are rising and people can typically find replacement jobs if they lose one.
Expenses Drive Stress More Than Income
- Biggest stresses for lower-income consumers are rent, food, and utilities rather than wage income.
- Current launched products (subscription, grocery points, higher savings bonuses) to help offset those cost pressures.