Core Viewpoint - U.S. fintech stocks are expected to gain an advantage as the government adopts a more populist, affordability-driven agenda ahead of the November 2026 midterm elections, potentially benefiting fintech challengers over traditional lenders [1]. Group 1: Fintech Companies Positioned for Growth - Companies associated with consumer-friendly credit and small-business services, such as buy-now, pay-later providers Affirm and Klarna, as well as fintech firms SoFi and Block, are well-positioned to benefit from the current market dynamics [2]. - Other potential winners identified include restaurant technology platform Toast and e-commerce firm Shopify, which may also capitalize on the affordability trend [2]. Group 2: Market Reactions and Performance - Traditional lenders experienced a rally following Trump's return to the White House in 2025, driven by expectations of a lighter regulatory environment; however, the focus on affordability may shift investor attention towards fintech challengers [3]. - In 2025, SoFi's stock increased by approximately 70%, while Affirm's rose by over 22%. In contrast, Block's stock fell by more than 23%, underperforming both its fintech peers and the broader market, which saw the Nasdaq Composite rise by about 20.4% during the same period [3]. Group 3: Political Influence on the Financial Sector - The rise of populism, linked to the affordability focus as midterms approach, suggests that companies offering lower-cost, user-friendly lending tools or services aimed at small businesses could see significant gains [4]. - Recent actions by the U.S. president, including a call for a one-year cap on credit card interest rates at 10%, indicate a pushback from the banking industry and reinforce the affordability agenda that could favor smaller fintechs [4][5]. - An executive order signed by the president aims to restrict large institutional investors from competing with individual homebuyers, further supporting the affordability-focused agenda that may benefit smaller fintech companies [5].

But first, the hot topic of the hour. President Trump doubling down on his affordability push as his top officials urge him to remain focused on bringing high prices lower for the average American, reportedly showing him polls and social media posts in closed door meetings. The Wall Street Journal is reporting that the White House aids quote are reorienting some of Trump's public events to focus on costs.They're planning uh economy focus focused speeches across the country in early 2026 and making plans to ...

But first, the hot topic of the hour. The Trump administration is pushing forward with President Trump's affordability agenda. But new Fox News polls show the American people are souring on the economy.76% of respondents view national economic conditions as poor, while 60% report poor personal financial situations. I spoke with White House National Economic Council Director Kevin Hasset about it on Sunday. Watch.>> We 100% get it. And uh one of the ways you could think about it, Maria, is that because of in ...