Morning Brew Daily Big Banks Pushback Against Credit Card Cap & Beyond Meat Launches Protein Drink
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Jan 16, 2026 The podcast dives into mixed earnings from big banks, revealing surprising trends in headcount and payouts. A proposed 10% credit card cap sparks concerns about limited credit availability. Meanwhile, Affleck and Damon strike an innovative Netflix deal, allowing for bonuses based on streaming success. Beyond Meat makes a bold move into the protein drink market. The ski industry feels the pinch from a lack of snow, impacting demand in Vail. Lastly, Spotify prepares to raise subscription prices, stirring up thoughts on streaming costs.
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Bank Earnings Show Uneven Strength
- Big banks missed earnings expectations overall, revealing pressure from slower deal-making and higher costs.
- Goldman Sachs stood out with record trading and wealth-management fees, showing concentrated wins amid industry weakness.
Banks Push Back On Interest-Rate Cap
- CEOs warned a 10% cap on credit-card interest would shrink bank profits and reduce credit access.
- The industry made $160 billion from interest fees in 2024, up sharply from 2022, so caps threaten a major revenue center.
Headcount Cuts Fuel Efficiency Drive
- Big banks are cutting headcount to boost efficiency, hitting the lowest combined staffing since 2021.
- Major institutions reduced employees the most since 2016, signaling ongoing cost-focused restructuring.