Banking With Interest: Recent Episodes
IntraFi Network
Banking With Interest, a podcast by IntraFi Network, features in-depth analysis and insight into the policy changes reshaping the banking industry. With insightful interviews and previews of pending policy challenges, the podcast is an essential listen for anyone connected to the financial services industry.
Banking With Interest is hosted by Rob Blackwell, an award-winning former journalist with more than two decades of experience as an expert on financial services policy. He is now Chief Content Officer and Head of External Affairs with IntraFi Network.
The podcast theme song was written and produced by Stellar Tracks courtesy of Pond5. The information, views, and opinions expressed during Banking With Interest belong solely to Rob Blackwell and his guests and do not represent those of IntraFi Network, LLC, its directors, management, or employees. Any ideas and strategies contained within the podcast are for informational purposes only and do not constitute legal or investment advice.
Penny Crosman, American Banker's executive editor for technology, discusses why some banks dominate AI-generated answers while others are nearly invisible, including tackling what community banks can do to improve their visibility.
Over the past year and a half, Acting CFPB Russell Vought has sought to largely shut down the CFPB by severely cutting staff, stopping enforcement actions and cutting back on supervision. But with the nomination of a new director, Brian Johnson, is that about to change? Alan Kaplinsky, senior counsel at Ballard Spahr and author of the Consumer Finance Monitor blog and host of its weekly podcast, discusses how the CFPB may change and what it will mean for banks.
Lindsey Johnson, president and CEO of the Consumer Bankers Association, talks about why affordability concerns are putting renewed political pressure on banks over credit card rates, overdraft and late fees. She also tackles the future of the CFPB, open banking, crypto legislation, agentic AI and why she's optimistic in the fight against fraud.
Brian Gardner, chief Washington policy strategist at Stifel, tackles how durable the Trump administration's fast-moving regulatory and other changes are likely to be for banks. He discusses what banks still misunderstand about Washington, why the M&A environment is improving, what Kevin Warsh's first press conference signaled, and what the midterm elections could mean for bank regulation if Democrats win back one chamber or both.
Michael Bright, CEO of the Structured Finance Association and a former head of Ginnie Mae, joins the show to discuss the state of the U.S. housing finance system nearly two decades after the financial crisis. He explains why he does not think the system is fundamentally broken, what policymakers still misunderstand about the secondary mortgage market, and how issues like GSE reform, Basel III, private credit and fraud could reshape housing finance in the years ahead.
Alex Johnson, founder of Fintech Takes, details why many banks are thinking about AI the wrong way. He updates his views on stablecoins vs. tokenized deposits, discusses why fintech competition remains a potent threat to banks and talks about why the bigger issue may be how customers use AI to make financial decisions.
Banks have fought a comprehensive effort to ensure stablecoins cannot offer yield. But the Senate Banking Committee passed a bill that the banking industry still says falls short. Does that mean banks have lost the fight? Will a crypto market structure bill pass this year? Brendan Pedersen of Punchbowl News offers insights into the current and future state of play.
Andrew Olmem, managing partner of Mayer Brown's Washington office and a former deputy director of the National Economic Council, talks about how the second Trump administration has moved much faster than the first to reshape financial regulation. He discusses why he believes bank supervision became too bureaucratic and too focused on process, how the administration is approaching capital and the Fed, and what stablecoins, the Clarity Act and OCC preemption could mean for the future of the regulatory system.
Richard Hunt, executive chairman of the Electronic Payments Coalition, discusses the expanding fight over interchange and why the battle is no longer centered only in Washington. He explains what is happening in states like Illinois and Colorado, why the OCC stepped in, and what could happen next in the courts and legislatures.
Nick Timiraos, chief economics correspondent at The Wall Street Journal, discusses the unusually fraught transition now underway at the Federal Reserve. He tackles why Jerome Powell's decision to stay on the board matters, what Kevin Warsh will face if he takes over as chair, and whether the future of the role may be irrevocably altered.
Deposit strategist Neil Stanley sits down with guest host Barb Rehm to discuss how AI is changing depositor behavior, pricing strategy, and the future of bank funding. He explains why static rate sheets and traditional CDs may become increasingly vulnerable as AI tools help customers optimize their cash automatically, and why banks will need more dynamic pricing, personalization, and frontline expertise to stay competitive.
Penny Crosman, executive editor for technology at American Banker, talks about the growing risk of "rogue AI" in banking and why generative and agentic AI have changed the stakes for the industry. She discusses how banks are trying to balance the pressure to adopt AI quickly with the need to control operational, reputational, and cyber risks, including the threat of cascading errors and increasingly powerful models like Anthropic's Mythos.
Mike Hsu, the former acting Comptroller of the Currency, explains how waiting to adopt artificial intelligence has become a risk for banks and their regulators. He discusses why AI does not fit neatly into existing risk frameworks, how agentic AI is changing the cyber threat landscape, and why both banks and supervisors need to get more hands-on with the technology.
Sam Sutton, author of Politico's Morning Money, discusses Kevin Warsh's nomination to lead the Federal Reserve and the difficult position he could find himself in almost immediately once confirmed. Sutton breaks down how the conflict with Iran, inflation risks, political pressure from President Trump and the continuing investigation into Jerome Powell are all complicating the transition in leadership at the central bank.
Nick Anthony, a policy analyst at the Cato Institute and a leading critic of central bank digital currencies, explains why the CBDC fight is not over even as many in Washington have turned against it. He discusses why some opponents are unhappy with the Senate's proposed ban tucked into the housing bill, why he is suing the government for a Justice Department analysis on the Fed's legal authority, and why broader financial surveillance may be the bigger issue.
Federal regulators released their third effort at implementing Basel III in three years, with this one taking a radically different approach to the previous two under the last administration. What does this version do and will it stick? John Heltman, Washington Bureau Chief of American Banker, breaks down what has changed, the reaction by banks, and whether we've reached the beginning of the end for Basel III Endgame.
Both the House and Senate have passed bipartisan bills designed to promote housing affordability, but the two chambers are now squaring off with each other over a final version, including whether it should include community bank regulatory relief provisions. Brendan Pedersen, financial services senior policy reporter at Punchbowl News and editor of its Vault newsletter, breaks down the debate, how it became so contentious, and what will happen next.
Kathy Kraninger has seen the banking system from both sides of the regulatory divide. The former director of the Consumer Financial Protection Bureau and now president and CEO of the Florida Bankers Association joins the show to discuss whether Washington is undergoing a regulatory "recalibration" including everything from whether banks will be required to collect citizenship information to the growing challenges banks face from fraud, scams, and rapidly evolving technologies like artificial intelligence.
Brandon Milhorn, CEO of the Conference of State Bank Supervisors, argues that the Office of the Comptroller of the Currency is pushing beyond its statutory authority in areas including trust charters, stablecoins and mortgage escrow interest. He also discusses the rise of so-called "Franken-charters" and the risks he sees in the growing stablecoin market.
The Trump administration is considering possible executive action that could require banks to begin collecting citizenship information from new and existing customers, according to a blockbuster scoop in The Wall Street Journal. Dylan Tokar, who cowrote the article for the WSJ, talks about what's behind the effort and what it means for banks. He also discusses the CFTC's battle with state governors over prediction markets, the launch of crypto banks and Coinbase CEO Brian Armstrong's role in the center of the fight over stablecoin yield.
Ben Hoffman, chief strategy officer and head of consumer products at Fifth Third Bank, joins the show to discuss the bank's acquisition of Comerica and what it signals about the future of super-regional banking. He explains why size alone isn't a strategy, why 2023 was less a "regional bank crisis" than a lesson in concentration risk, and how diversification and discipline shape long-term resilience. Hoffman also weighs in on deposit competition, fraud and scams, regulatory and political uncertainty, and the growing role of AI in banking decisions.
As the Supreme Court weighs the fate of Fed Gov Lisa Cook and the Justice Department launches a criminal probe into Chair Jerome Powell, the future of the U.S. economy may well be at stake. Victoria Guida, economics correspondent and columnist at Politico, goes in depth on how the high court may rule, why the Trump administration upped the pressure on Powell, and who it may appoint as his successor.
Bowing to industry pressure, Senate Banking abruptly postponed its vote on the crypto market structure bill last week. Brendan Pedersen, senior policy reporter at Punchbowl News and editor of its Vault newsletter, details the dynamics behind the meltdown. He also discusses the odds for the Trump-led push to curb interchange fees and HFSC Chairman French Hill's efforts to pass community bank reg relief.
Juan Zarate, who helped create the current anti-money laundering regime 25 years ago while working at Treasury, assesses the system's faults and the Trump Administration's push for reforms. He outlines what a better system would look like and handicaps the odds of it happening
Julieann Thurlow, CEO of Reading Cooperative Bank, talks about the opportunities and challenges for community banks this year. She discusses the economic conditions, how community banks can innovate and where she'd like to see changes by policymakers.
As the year comes to a close, the OCC approved five crypto-related firms for new charters, a move that could have big consequences for the banking industry writ large. Ian Katz, managing partner at Capital Alpha Partners, discusses why the approvals happened, what they mean, and why banks may sue. He also tackles the other big issues of 2026 - M&A, housing, and deregulation - and makes predictions on the future of the Fed.
It's safe to say 2025 has marked a dramatic change from the Biden-era bank regulatory agenda. The Trump-appointed regulators are talking about rethinking supervision, capital, and the Fed's entire approach to liquidity. What does this mean for banks and the system overall? Karen Shaw Petrou, managing director of Federal Financial Analytics, breaks it down.
The Trump administration is refusing to take funds to pay for ongoing operations at the Consumer Financial Protection Bureau, arguing the funding structure is illegal. What does this mean for the agency's future, including its recent efforts to curb the small business lending data rule and define open banking? Kate Berry of American Banker and Evan Weinberger of Bloomberg Law weigh in on what's going on and what happens next.
Senate negotiators have started talking again on a crypto market structure bill after a breakdown in discussions earlier this year. Does the bill have momentum? Brendan Pedersen, the financial services reporter for Punchbowl News, breaks down the latest around the legislation, what it means for banks, and whether bank efforts to close loopholes around stablecoins paying interest have a chance of passage.
As the government shutdown drags on, the Treasury Department fired the entire staff of the CDFI Fund, a program with substantial bipartisan support. Dennis Ammann, CEO of People's Bank, a CDFI in Mississippi, and Jeannine Jacokes, CEO of the Community Development Bankers Association, discuss the impact on CDFIs nationwide and why it has alarmed lawmakers on both sides of the aisle.
Aaron Klein, senior fellow at the Brookings Institution, explains how the Supreme Court is likely to react to President Trump’s efforts to fire Fed Gov. Lisa Cook, and what it means for the central bank’s future as well as monetary policy. Klein also details how crypto is fighting banks’ attempt to prevent stablecoins from paying interest or rewards.
More than two dozen bills dedicated to Making Community Banks Great Again have passed House Financial Services Committee. Panel Chair French Hill handicaps which will have the most impact and what is most likely to be enacted. He also discusses the latest on the crypto market structure bill, how regulators can help banks in the fight against fraud, where the payments sector will be in five years, why he wants to end the Fed’s dual mandate, the prospects for housing legislation and unfinished business after the fall of SVB in 2023.
Nathan McCauley, Cofounder and CEO of Anchorage Digital, discusses how his institution obtained the first OCC digital trust charter five years ago, how it has changed his business, and why other crypto firms are rushing to apply for the same charter now. He also discusses stablecoins vs. crypto, and the changing attitudes around debanking.
Alex Johnson, founder and publisher of FinTech Takes, sorts through what happens now that Congress has passed a new law to regulate stablecoins. Will stablecoins take over finance, and if so, are they a bigger threat to banks or money market mutual funds? What are the use cases for stablecoins vs. tokenized deposits? Can big banks beat stablecoin issuers at their own game?
Victoria Guida, economics correspondent and columnist for Politico, talks about President Trump’s reported decision – and then quick reversal – of a move last week to oust Jerome Powell as chairman of the Federal Reserve Board. She goes behind the scenes on what the president is telling allies, how GOP lawmakers view the situation, and why firing Powell might not solve Trump’s central concerns.
Crypto firms often pitch themselves as an alternative to and the future of traditional finance. So why are firms like Ripple, Circle, Wise and Erebor attempting to charter banks? Penny Crosman, executive editor for technology at American Banker, talks about what's going on, how regulators will view these applications, and whether banks plan to fight back.
Todd Phillips, assistant professor at Georgia State University’s Robinson College of Business, discusses the latest attempt to merge bank regulatory agencies and what that means for efforts in this area. He also discusses reported discussions by Walmart and Amazon to start stablecoins, and the potential impact on banks.
Tom Halpin, the regional head of North America Global Payment Solutions for HSBC, talks about how AI and new technologies are changing domestic and global payments—and what that means both for his bank and the industry. He also tackles where AI can help (or hurt), the status of the FedNow roll out, and concerns around CBDCs and stablecoins.
Kiah Haslett, banking and fintech editor for Bank Director and FinXTech, talks about how Wall Street giants like Bank of America and community-focused lenders are training their teams to be savvy AI users. She also shares insights about an upcoming FinXTech report on why community banks need a comprehensive data strategy, and federal regulators’ decision to abandon reputation risk as a potential threat to banks.
While serving in the Oklahoma National Guard, Jill Castilla returned home to find a family member had stolen her money. The bank refused to give her the money back. Decades later, she now leads that bank, Citizens Bank of Edmond, and has used it to launch a digital bank aimed at servicemembers to ensure others don’t suffer the same fate. She also talks about the policy challenges facing community banks right now, how to fix them, and why she remains optimistic about the future.
Sam Sutton, the author of Politico's Morning Money, discusses the impact of the Trump Administration's recent deal to reduce tariffs on China, and what Wall Street and bankers were worried about — publicly and privately — at last week's Milken Institute gathering.
Brendan Pedersen, author of Punchbowl News’ The Vault, talks about why key Democrats withdrew support for a bill to regulate stablecoins, how House Financial Services Committee GOP are targeting CFPB, and why an effort to overturn the medical debt rule appears to have failed for now.
President Trump is flirting with the idea of firing Fed Chairman Jerome Powell while the administration is attempting to lay off 90% of the CFPB’s employees. John Heltman, Washington bureau chief of American Banker, and Kate Berry, the paper’s consumer reporter, discuss what’s next for these two agencies.
Jaret Seiberg, managing director at TD Cowen, talks about how the uncertain economic environment—and changing policies regarding tariffs—are impacting banks large and small. He also tackles Treasury Secretary Scott Bessent’s bank regulatory agenda, whether the Trump administration can successfully accomplish GSE reform and the significant risks to banks from stablecoin legislation.
Brandon Milhorn, the CEO of the Conference of State Bank Supervisors, details his concerns about bills fast-tracked in Congress that would give regulatory guardrails for stablecoins. The state regulators he represents say it would open the door to mixing banking and commerce, disintermediate banks and give too much power to the federal government.
Katy O’Donnell, the financial services reporter for Politico, dives into a series of surprising moves by new FHFA Director Bill Pulte, including firing the CEO of Freddie Mac, appointing himself chair of both GSEs, and cutting programs.
The Trump administration unexpectedly targeted the Community Development Financial Institution Fund, touching off concern among bankers and their representatives that the bipartisan program could be eliminated. Ryan Tracy, who covers financial regulation and banking for Capitol Account, explains what happened, why, and the future of CDFIs. We also discuss the latest legal maneuvers surrounding the CFPB, what Fed Gov. Michelle Bowman’s nomination as vice chair for banking supervision means for community banks and more.
Not that long ago, the Treasury secretary mostly took a back seat to the banking agencies in crafting policy, stepping in only during times of crisis. Not anymore. Karen Shaw Petrou, managing partner of Federal Financial Analytics, discusses Treasury Secretary Scott Bessent’s expansive view of his own role, why he’s taking charge, and what it means for banks.
Cam Fowler, the CEO of Zelle parent company Early Warning Services, talks about the peer-to-peer payment system’s rapid growth, the furor around fraud, and its new digital wallet, Paze. Fowler explains how the company is working to make the platform safer for consumers and why he believes shared accountability is the best approach to stopping criminals.
Rep. Frank Lucas, the chair of a newly created Congressional task force on monetary policy, discusses the panel's agenda and upcoming hearings, the first of which takes place this week. The Oklahoma Republican grapples with two separate questions: should the Fed be independent and should it have a direct role in banking supervision?
The Trump administration wants to fold the FDIC’s bank oversight duties into the OCC without congressional approval. Evan Weinberger, a banking correspondent at Bloomberg Law, details the ramifications for community banks, what’s already happening at both agencies, and what may happen next.
Victoria Guida of Politico and Brendan Pedersen of Punchbowl News sort through how and why the Trump administration is remaking banking regulation. Is the CFPB neutered for the next four years or maybe forever? Will the OCC take over the FDIC’s exam functions? Why did big bank CEOs meet with the Senate Banking Committee? What’s DOGE up to at Treasury?
Greg Baer, the CEO of the Bank Policy Institute, argues that bank supervision has gone off course, focusing on the wrong areas and making the system less safe. He outlines how he and big banks would recommend fixing it. He also discusses stress test and AML reform, new liquidity rules, Basel III, CFPB and more.
Former Sen. Pat Toomey, R-Pa., one of the first lawmakers to sound alarms about the debanking of crypto firms , talks about President Trump’s accusation that large banks are systemically debanking conservatives, and what he thinks is really going on. That includes how policymakers could fix the issue permanently and why some proposed solutions might backfire.
Rep. Maxine Waters, lead Democrat on House Financial Services, discusses how the committee and Congress have changed in her long tenure, her relationship with Chair French Hill, and the importance of community banks. She also unveils the Democratic agenda for this Congress, including housing reform, stablecoin regulation and more.
Brad Bolton, the CEO of Community Spirit Bank in Red Bay, Ala., discusses the state of community banking right now, including what challenges he and other small institutions face and how they hope policymakers can help. He dives into concerns about new small business lending data requirements and other pending regulations, calls for bank consolidation, and what worries him most.
Michael Barr’s surprising decision to step down as Fed vice chair of banking supervision next month allows the incoming Trump administration to make its own pick for the job and raises questions about the political independence of the banking regulators going forward. Andrew Ackerman, senior financial reporter with The Washington Post, walks through the implications for banks and discusses Barr’s likely successor.
Acting Comptroller of the Currency Michael Hsu talks about his three-plus years at the forefront of bank regulation, including what regulators learned from the fall of SVB, why we still need new Basel capital rules, and whether regulatory restructuring would be worth the effort.
Evan Weinberger, the banking reporter at Bloomberg Law, talks about the Trump administration’s trial balloon to eliminate the FDIC or combine regulatory agencies. He also goes in-depth on the various fights the CFPB is engaged in, how the Trump administration could choose to tackle them, and what that would mean for banks.
Alex Johnson, the founder and publisher of Fintech Takes, tackles several hot-button topics, including how the crypto industry’s election victories will influence the next Trump administration, and why hype around stablecoins as a replacement for banks may be misplaced. He also discusses whether banks are really engaging in debanking as a prominent venture capitalist recently claimed.
Sam Sutton, the primary author of Politico’s Morning Money newsletter, goes behind the scenes on why President-elect Trump chose Scott Bessent to lead the Treasury Department. Sutton discusses Bessent’s experience and agenda, how his views on tariffs and inflation will play out in the next administration, and how they portend a potential brewing conflict with the Federal Reserve.
Rep. French Hill, a top contender to lead the House Financial Services Committee, details his plan to help banks, including revamping regulators’ approach to M&A, ending Operation Choke Point, and encouraging more de novos. He also discusses his views on Scott Bessent, President-elect Trump’s nominee for Treasury secretary, the mood among GOP lawmakers, how the government can confront fraud at banks, what he thinks Congress can do for banks over the next two years and his takeaways from the Biden-era regulators’ final Congressional appearance.
Lindsey Johnson, CEO and president of the Consumer Bankers Association, talks about how the CFPB may change under the second Trump administration. Will a Trump-appointed CFPB director roll back the recently finalized open data rule? What happens for banks and consumers if that rule is left to stand? She also tackles the future of the agency's overdraft proposal and small business lending rule.
With Republicans set to control the White House, Senate, and House next year, Victoria Guida of Politico and Brendan Pedersen of Punchbowl News dive into the implications for financial services companies. That includes what it means for the Fed, including whether President-elect Trump might try to oust Chair Jerome Powell, and what kinds of leaders will take the reins of the Congressional banking committees.
The rise of generative AI agents have promised consumers a better, safer future. But what happens if those agents act in ways that destabilize the system, causing bank runs or better enable bad actors to commit fraud or hack financial institutions? Todd Phillips, assistant professor at Georgia State University’s Robinson College of Business, talks about his new paper looking into how AI could wreak havoc on the financial system.
Kate Berry, a reporter for American Banker, and Christopher Williston, the CEO of the Independent Bankers Association of Texas, go in-depth to discuss the CFPB’s final Section 1033 rule, which implements open banking. They tackle which institutions are most at risk from the final rule, why trade groups are suing to block it, and how the CFPB is responding to bank fears it will spur more fraud.
Eamon Javers, a senior Washington correspondent for CNBC, talks about his new podcast, “The Crimes of Putin’s Trader,” and how Russia is using hackers to infiltrate banks and Wall Street. He goes behind the scenes on the case of Vladislav Klyushin, who was convicted by the U.S. of insider trading, how he was traded back this summer to Russia, and what it means for financial firms here.
Cam Fine, former CEO and president of ICBA, and Ed Yingling, former CEO and president of ABA, discuss and debate the possible outcomes of the election—Presidential, House and Senate—and what they could mean for banking policy.
Jason Mikula, publisher of Fintech Business Weekly, talks about the ongoing fallout from the failure of fintech Synapse, and banking regulators’ efforts to ensure it can’t happen again. Are regulators going too far? Is this the end of banking-as-a-service?
Rep. Bill Huizenga, R-Mich., the chair of the House Financial Services oversight subcommittee, talks about his agenda if selected as GOP leader of the full panel next year, including looking deeper at artificial intelligence, regulating crypto, and fixing housing. He also talks about his focus on reining in activist investors, what he wants to see the next CFPB director tackle and the limitations of Congressional oversight.
Karen Shaw Petrou, managing partner of Federal Financial Analytics, details how new guidelines by federal regulators to curb M&A could inadvertently increase the market power of the biggest banks and Big Tech.
Ryan Donovan, the head of the Council of Federal Home Loan Banks, pushes back against criticisms that the government-sponsored enterprises have strayed from their mission. He outlines what the FHLBs want as part of a reform effort by their regulator.
Rep. Andy Barr, the chair of the House financial institutions subcommittee, discusses why he should lead Republicans on the Financial Services Committee next year. He offers a preview of his agenda, including pushing legislation that would prevent banks from denying legal businesses access to financial services and why large institutions are suddenly supporting it. He also details what changes regulators should make in new Basel III capital rules, how regulatory reform for banks could happen, and why M&A approval rules should be revamped.
Jaret Seiberg, managing director of TD Cowen’s Washington Research Group, discusses the many policy changes facing banks this summer, including the FDIC’s brokered deposit proposal, the Fed’s new FAQ on the discount window, a Texas court decision on the small business rule, and the new uncertainties the election poses for the industry.
Alex Johnson, founder of Fintech Takes, discusses the CFPB’s race to complete as many regulatory initiatives – on earned wage access products, open data, privacy and more – ahead of the November election. And he talks about why banking as a service has turned into a “high-wire act without a safety net” in the wake of the Synapse bankruptcy.
Rep. French Hill, one of the leading candidates to chair the House Financial Services Committee next year, makes his case for the job, discussing how his former role as a bank CEO would help guide his agenda. He talks about why he’s worked so hard on crypto and stablecoin regulation bills, his vision for housing reform, the lessons of SVB, the end of Chevron deference, and his concerns on bank consolidation.
Claire Williams, Capitol Hill reporter for American Banker, and Brendan Pedersen, who covers financial services for Punchbowl News, discuss the latest on financial policy. Will Christy Romero Goldsmith be confirmed to lead the FDIC? Is Basel III Endgame dead? How could Sen. J.D. Vance as vice president impact bank policy going forward?
Phil Mobley, national director of office analytics for CoStar, the leading firm when it comes to commercial real estate, talks about how the market has changed in the wake of the pandemic. He discusses the trends right now, where the market is headed, and what risk office CRE poses to banks.
Pete Schroeder, who covers financial regulation and policy for Reuters, breaks down why federal banking agencies are split on how to finalize new capital rules and explains how policymakers are reacting to a nominee for FDIC chair.
Frank Abagnale Jr., an expert on check forgery and the subject and inspiration for Steven Spielberg’s film “Catch Me If You Can,” talks about why check fraud is so much worse in recent years despite the overall decline of use of checks. He talks about why banks are struggling to detect forgeries, how policymakers should address the issue, and why the problem is poised to become even more dire.
Penny Crosman, executive editor of technology at American Banker, goes behind the scenes on a case of Zelle fraud that cost a consumer thousands of dollars—and what it means for a coming policy fight between the big banks and Washington over the real-time payment system.
Andrew Ackerman, a financial services reporter for the Wall Street Journal, discusses what happens next after FDIC Chair Martin Gruenberg’s surprise announcement that he will resign upon confirmation of a successor. Ackerman also details how regulators plan to dial back the Basel III Endgame proposal, and talks about the CFPB’s future after the Supreme Court upheld its funding structure.
Brendan Pedersen, the financial services reporter for Punchbowl News, discusses the critical importance of upcoming hearings to the future of the FDIC and disturbing revelations from a recent report looking into the agency’s culture. He also discusses an upcoming House vote on a crypto bill and the latest on financial privacy and stablecoin legislation.
Rep. Frank Lucas, the longest serving Republican on the House Financial Services Committee, makes his case for why he should be the next chair, offering his views on community bank consolidation, whether the Fed should be independent, the dangers of quantum computing and how history informs his view of government agencies and programs.
Hilary Allen, a law professor at American University Washington College of Law, warns that a stablecoin regulation bill could open the door to mixing banking and commerce, allowing WalMart, Amazon or Google to effectively set up their own bank without facing bank-like regulations. She also details issues with the legislation introduced to date, including failures to address critically important issues.
John Heltman and Claire Williams, two journalists with American Banker, discuss the outlet’s recent series on populism and how it impacts banks. They tackle why the banking industry is so often the target of populist politicians from both the left and the right, how populism is changing the debate on various bank policy debates now, and what comes next.
Aaron Klein, senior fellow at the Brookings Institution, and Mark Calabria, former director of the Federal Housing Finance Agency, debate the best way to address the housing crisis, as well as the dangers of politicizing banking regulation, whether the Fed is too worried about consensus, if the central bank is secretly working on a central bank digital currency and who should play The Sphere next.
Mark Calabria, former director of the Federal Housing Finance Agency, and Aaron Klein, senior fellow at the Brookings Institution, discuss how politics factors into the Fed’s monetary policy decisions, decry the rescue of uninsured depositors last year, debate how to fix liquidity rules and weigh in on revamping the FHLBs.
Graham Steele, the former Treasury assistant secretary for financial institutions, offers a behind-the-scenes perspective on regulators’ decision to rescue uninsured depositors at Silicon Valley Bank and two other regional banks. He also discusses what policy changes are still needed as a result, the greatest challenge facing the banking industry, and why he’s worried about a “catastrophic” cybersecurity event.
One year after the fall of Silicon Valley Bank, the reverberations into banking policy continue. Brian Gardner, Chief Washington Policy Strategist at investment bank Stifel, discusses how the failure impacted bank supervision and the debate over new capital and liquidity rules—and how it will remain a part of the calculus moving forward.
House Majority Whip Tom Emmer talks about his fears for the future of small banks—and how to reverse course—and why his movement to ban the Fed from creating a CBDC has gained steam. He also tackles his predictions for the House elections this year, the CFPB’s push against so-called “junk” fees and how he became one of the leading advocates for cryptocurrency in Congress.
Richard Hunt, executive chair of the Electronic Payments Coalition, talks about the battle over Capital One buying Discover, how it connects to the Durbin amendment’s restrictions on debit interchange fees, and why the fight over another Durbin legislative proposal on credit cards is so heated.
Neil Stanley, CEO of the CorePoint, offers strategies and products banks can use to attract and retain deposits in a highly competitive deposit environment.
The former Kansas City Fed president talks about the persistence of inflation, when the central bank is likely to lower interest rates, how worried she is about office CRE, the lessons from the failures of three regional banks last year, whether she supports a central bank digital currency, and the future of community banks.
After a prominent regional bank slashed its dividend amid unexpected losses related to office commercial real estate loans, some in the media are raising fears that another round of failures could be in the offing. Jaret Seiberg, managing director of Cowen’s Washington Research Group, details what happened, how regulators are responding, and whether it’s a sign of more trouble or a one-off event.
Kate Berry, who covers the CFPB for American Banker, goes behind the scenes on the consumer agency’s latest proposals to limit overdraft fees and institute new limits around nonsufficient funds transactions.
Naomi Snyder, editor-in-chief of Bank Director, discusses why the bank M&A market was so bad in 2023, and what changes need to happen for it to improve.
John Pitts, head of policy for Plaid, argues a new CFPB open-data proposal could transform the financial services industry. He says bankers, many of whom are skeptical of the plan, could see significant opportunities, including a greater ability to attract new customers.
Greg Baer, CEO of the Bank Policy Institute, makes the case that regulators did not follow the law when they proposed new capital standards for the biggest banks by failing to provide adequate analysis and data. He details what he believes is missing and why he’s confident a final rule will be substantially different.
Derek Williams, chairman of ICBA and President and CEO of Century Bank & Trust in Milledgeville, Georgia, talks about the challenges and opportunities for community banks as they head into a new year, including how he sees economic issues and policy debates playing out.
As AI becomes more prevalent, what are the risks to banks and consumers, particularly as software can now allow fraudsters to imitate a person's voice? Emily Flitter, reporter for the New York Times, talks about the growing threat from AI on financial security, how it is already changing lending and what policymakers can do to address it.
Cornelius Hurley, professor at Boston University School of Law, breaks down the recent FHFA report calling for sweeping changes to the Home Loan Bank system. He discusses why it’s important to refocus the banks on mission and how the debates over the report’s finding will play out in future rulemakings and legislation.
Randal Quarles, the former Fed vice chair, details how the new Basel III capital proposal could hurt the economy, casts doubt on the legality of the Fed’s stress tests, and pushes back on criticism that his actions helped cause the failure of three regional banks earlier this spring. He also talks about his biggest concerns in the financial system right now, where interest rates are likely to go from here and his fears about the current power dynamics at the Fed.
Zeke Faux, an investigative reporter for Bloomberg and the author of “Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall,” goes behind the scenes on Sam Bankman Fried’s conviction last week, including his interviews with the former FTX leader and what it means for the industry at large.
Christina Skinner, assistant professor at The Wharton School of the University of Pennsylvania, talks about why a potential U.S. central bank digital currency “opens a Pandora’s Box” of questions about the role of the Fed and could pose a grave threat to banks.
Ebrima Sanneh, who covers the federal banking agencies for the American Banker, breaks down the final rule setting out new standards under the Community Reinvestment Act. He tackles how the rule changed from the proposal, the new standards for community banks, and how the industry is likely to react.
Now that the Consumer Financial Protection Bureau appears likely to survive a Supreme Court challenge, will the agency be emboldened to push its powers further? Or will it be reined in by other forces? Evan Weinberger, who covers the CFPB for Bloomberg Law, analyzes the latest intel.
Steve Scurlock, the head of government relations at the Independent Bankers Association of Texas, talks about the “whipsaw” effect on community banks of regulatory changes that rapidly shift with the change of administrations and regulators—and his biggest fears for the future.
Matt Pieniazek, president of Darling Consulting, and Dave Koch, managing director of advisory services with Abrigo, discuss strategies for banks to navigate the challenging deposit market as the Fed nears the end of its rate hike cycle. Will the Fed raise rates again, how long will rates stay high and how best can banks prepare?
Jonathan Gould, partner with Jones Day and a former general counsel of the Office of the Comptroller of the Currency, makes a case that the federal banking agencies are increasingly pushing the envelope even as courts become more skeptical of their powers. He also discusses the dangers of focusing too much on the safety of individual institutions at the expense of the overall risk to the system.
Kevin Fromer, president and CEO of the Financial Services Forum, details why the big banks are pushing back vigorously against a new proposal to raise capital at the largest institutions by 20%, arguing it is unnecessary and could cost the U.S. economy at a critical time.
Steven Kelly, associate director of research at the Yale Program on Financial Stability, pushes back on multiple narratives about why SVB failed and what policymakers should do to prevent another collapse like it. He also weighs in on federal regulators’ new capital proposal and the battle over stablecoin regulation.
Aaron Klein, senior fellow in economic studies at the Brookings Institution, talks about why he is skeptical of the impact of FedNow, the central bank’s instant payment system due to launch this week.
Sean Tuffy, former head of market and regulatory intelligence at Citigroup, talks about how the changing dynamics at Twitter may impact bank policy and media narratives. He also discusses crypto and stablecoin legislation, money market mutual fund reform, and the lessons of Silicon Valley Bank’s failure.
John Heltman, Washington Bureau Chief of American Banker, talks about federal regulators’ pending proposal to raise capital on banks with more than $100 billion of assets. He tackles how that fits into the overall Basel capital plan, how banks and Republicans are planning to fight back, and what kind of impact it could have on bank lending.
Tim Wennes, the CEO of Santander US, talks about the future of regional banks, including the potential for higher capital requirements and a possible credit crunch. He also weighs in on fears around commercial real estate, why the bank is expanding its auto lending business, and how it is targeting the next generation of bank customers.
Lindsey Johnson, who started last summer as the head of the Consumer Bankers Association, discusses how policymakers are reacting to the recent banking turmoil, why the CFPB’s credit card late fee proposal will harm consumers, and whether regulators will allow more M&A.
Last week saw a remarkable number of Capitol Hill hearings on the bank policy front, with multiple sessions featuring top bank regulators and the former chief executives of three failed banks. Claire Williams and Kyle Campbell, reporters with American Banker, offer their takeaways and remaining questions from these hearings, including what comes next from lawmakers and regulators.
Greg Baer, the president and CEO of the Bank Policy Institute, takes issue with claims that S. 2155 played a role in the collapse of three regional banks. He also tackles what areas policymakers should look at, whether Congress is likely to enact any legislative changes directed at banks, and why the CFPB is off base when it comes to its proposal targeting credit card late fees.
John Blizzard, CEO of Seattle Bank, talks about his experiences after the recent regional bank failures and the lack of concern by customers. He also discusses the nationwide launch of CD Valet, which allows consumers unbiased access to the best CD interest rates.
John Heltman, Washington Bureau Chief of American Banker, tackles the many policy questions resulting from the failure of First Republic Bank. He also discusses three regulatory reports examining two failures in March—and another report detailing how the FDIC wants to revamp deposit insurance.
Mark Calabria, the former director of the Federal Housing Finance Agency, offers his take on recent criticisms that the Federal Home Loan Banks have gone too far outside their mission—and what he would do to address them.
Richard Hunt, the former head of the Consumer Bankers Association, and Jaret Seiberg, managing director of Washington Research Group with TD Cowen, return to the show to discuss the post-SVB bank policy world. Is the crisis over? Will Congress enact new legislation and what will it target? What banks are now considered too big to fail?
Claire Williams, the Capitol Hill reporter for American Banker and Brendan Pedersen, the banking reporter for PunchBowl News, offer their takeaways from back-to-back hearings on the failures of Silicon Valley Bank and Signature Bank. They discuss what lawmakers were focused on and how regulators responded as well as preview potential regulatory and legislative changes ahead.
Mark Calabria, former director of the Federal Housing Finance Agency and author of the new book Shelter from the Storm, talks about why he resisted calls to bailout mortgage servicers during the pandemic, and how he knew their predictions of another mortgage crisis were overblown.
Emily Flitter, finance reporter for the New York Times, tackles the big questions stemming from the extraordinary actions taken by regulators on Sunday. Is this a bailout? Is there another banking crisis in the offing? What are the potential costs to banks? Will they face Dodd-Frank 2.0?
Victoria Guida, economic policy reporter for Politico, dives into what Fed officials are trying to tell markets—and why markets don’t always appear to be taking the hint. She also tackles the latest names up to be the new Fed vice chair and whether Treasury secretly wants to create a central bank digital currency.
Bankers nationwide are experiencing heightened competition for deposits as consumers increasingly recognize their ability to shop for the best rate. Neil Stanley, founder and CEO of The CorePoint, discusses the best strategies banks can use to keep their existing deposits and attract new ones.
Kevin Wack, national editor for American Banker, talks about his multi-part series examining the phony-accounts scandal at Wells Fargo, how he persuaded a former key executive there to provide previously unknown details about what happened, and what other institutions can learn.
The CFPB surprised the banking industry last week by proposing to limit credit card late fees to $8, a much lower figure than most expected. Ian Katz, managing director of Capital Alpha Partners and a former Bloomberg reporter, discusses what other specifics are in the plan, how the industry is reacting, and how the issue is likely to play out this year.
While the Federal Housing Finance Agency conducts a historic review of the Federal Home Loan Banks’ mission, several critics are questioning whether the housing government-sponsored enterprises have lost sight of their original purpose. Karen Shaw Petrou, managing partner of Federal Financial Analytics details the controversy, and how the FHLBs should be reformed.
Bill Briggs, a key architect of the Paycheck Protection Program, talks about his just-announced role as the CEO of the Banking as a Service Association, a group representing banks that partner with fintechs to allow them to offer financial services. He discusses the need for a new set of best practices and how he believes the model is here for good despite enhanced regulatory scrutiny of bank-fintech partnerships.
H. Rodgin Cohen, the senior chair of Sullivan & Cromwell and the country’s preeminent bank lawyers, talks about how heightened regulatory scrutiny of M&A is impacting the industry, whether some banks are “too big to manage,” the Fed’s plans to raise capital, and the dire need for crypto regulations.
Polite disagreement is overrated. Richard Hunt, the former CEO of the Consumer Bankers Association, and Jaret Seiberg, a top bank analyst with Cowen Washington Research Group, spar (and sometimes agree) over several critical topics in financial services. That includes pending Fed changes to capital standards, Zelle alterations, FedNow, CRA reform, FTX's fallout, CFPB’s future, pot banking and much more.
The Fed is proposing to name all nonbank companies that apply for—and ultimately receive—a master account with the central bank. Kyle Campbell, the Fed reporter for American Banker, goes through why this issue matters to banks, how it connects to both a lawsuit and possible legislation, and where it’s going next.
Eugene Ludwig, the former Comptroller of the Currency who led the last successful effort to reform the Community Reinvestment Act, details why the current proposal by regulators needs to be reproposed. He also tackles how banks should be evaluating their fintech partnerships in light of supervisory scrutiny, and how he sees the fintech sector as a managing partner at venture capital fund Canapi Ventures.
It’s been another hectic week in the financial regulatory world, with Democrats unexpectedly outperforming in the midterm elections while separately another crypto meltdown ensued. But what will this mean for bankers? John Heltman, the Washington Bureau Chief of American Banker, and Brendan Pedersen, the financial services reporter for PunchBowl News, provide analysis on Democrats keeping the Senate, Rep. Patrick McHenry as the likely chairman of House Financial Services Committee, and whether the crypto news adds momentum to a stablecoin bill. They also discuss Twitter's nascent plans to become a payments company and offer money market products.
It’s been another hectic week in the financial regulatory world, with Democrats unexpectedly outperforming in the midterm elections while separately another crypto meltdown ensued. But what will this mean for bankers? John Heltman, the Washington Bureau Chief of American Banker, and Brendan Pedersen, the financial services reporter for PunchBowl News, provide analysis on Democrats keeping the Senate, Rep. Patrick McHenry as the likely chairman of House Financial Services Committee, and whether the crypto news adds momentum to a stablecoin bill. They also discuss Twitter's nascent plans to become a payments company and offer money market products.
Aaron Klein, the Miriam K. Carliner Chair and senior fellow in Economic Studies at the Brookings Institution, discusses how the growth of stablecoins could hurt banks, why financial inclusion isn’t going to be solved by a central bank digital currency and why D.C. always wants to give the Federal Reserve more power.
Aaron Klein, the Miriam K. Carliner Chair and senior fellow in Economic Studies at the Brookings Institution, discusses how the growth of stablecoins could hurt banks, why financial inclusion isn’t going to be solved by a central bank digital currency and why D.C. always wants to give the Federal Reserve more power.
Two journalists who have covered the CFPB for years grapple with the bewildering array of questions stemming from the recent federal appeals court ruling that said the agency’s funding is unconstitutional. What happens if the Supreme Court upholds the ruling? And how long will it take for the issue to be resolved?
Two journalists who have covered the CFPB for years grapple with the bewildering array of questions stemming from the recent federal appeals court ruling that said the agency’s funding is unconstitutional. What happens if the Supreme Court upholds the ruling? And how long will it take for the issue to be resolved?
Emily Flitter, a senior banking reporter for the New York Times and author of The White Wall: How Big Finance Bankrupts Black America, discusses why she decided to write the book, what she uncovered, and how discrimination continues to be a formidable challenge.
Emily Flitter, a senior banking reporter for the New York Times and author of The White Wall: How Big Finance Bankrupts Black America, discusses why she decided to write the book, what she uncovered, and how discrimination continues to be a formidable challenge.
Two experts on banking and politics – Cam Fine, the former CEO of the Independent Community Bankers of America and Ed Yingling, the former CEO of the American Bankers Association – talk about how the different election outcomes will affect the industry. That includes a look at what legislation is likely to pass if the GOP seizes the House and Senate, and what agencies and rules Republicans will target.
Matt Pieniazek, president and CEO of Darling Consulting Group, talks about what banks are doing right—and wrong—as they adjust their balance sheets to the Fed’s unprecedented recent rate hikes. He warns of the most common mistakes banks are making, and how to fix them.
Howard Headlee, the president and CEO of the Utah Bankers Association, takes issue with some bankers’ concern that industrial bank applications by Ford and Rakuten will blur the lines between banking and commerce. He also sharply criticizes banks that sell to credit unions and predicts there will be a legal battle over CRA reform.
Corey LeBlanc, cofounder, chief operating officer and chief technology officer of Locality Bank in Florida, talks about how he and his partners got through the notoriously difficult regulatory process to charter a de novo institution. Why did they succeed where so many others have not? He also talks about what Locality Bank is doing differently than other institutions, including its approach to fintech partnerships.
Alex Marsh, head of global policy at Klarna, talks about the company’s response to the CFPB report last week that called for buy-now, pay-later firms to be regulated and examined like credit cards. He also discusses the growth of the sector, including the recent drop in valuations for BNPL firms, and where he sees it going next.
Darrin Williams, the CEO of Southern Bancorp. in Arkansas, talks about how a huge capital infusion from the Treasury Department’s Emergency Capital Investment Program is changing his bank and how similar infusions are impacting fellow community development financial institutions.
Lauren Anderson, senior vice president at the Bank Policy Institute, discusses the various approaches regulators are taking, both internationally and in the U.S., to banks and climate change—and how institutions are responding. That includes blowback to the SEC’s proposed climate disclosure standards and new climate guidelines from the FDIC and OCC.
Karen Thomas, the former senior executive vice president of government relations and public policy at the Independent Community Bankers of America, talks about how the political influence of community banks has changed in the past two decades—and the biggest policy challenges facing them now. Those include closing the ILC loophole, CBDCs, and more.
Ramon Looby, the head of the Maryland Bankers Association, talks about financial education, financial inclusion and how crypto impacts both. He also tackles the need for a cannabis banking bill and what it’s like to be the first black leader of a state banking trade group.
Brad Tidwell, CEO and President of VeraBank in Texas, talks about how he is handling some of the biggest issues facing his institution and the industry, including his response to Fed interest rate hikes, how the bank finds new customers, and the struggle for talent acquisition. He also reveals the prize possession in his classic rock memorabilia collection.
The always quotable Richard Hunt, who is the departing president and CEO of the Consumer Bankers Association, sits down to reflect on his tenure, including his biggest regret and what it was like to manage a large-bank trade group during the financial crisis and the pandemic. He also looks forward, discussing his views on CRA reform, student lending, CBDCs and more. Bonus: Richard goes through a “lightning round,” where he must give his reactions to a range of topics in under 30 seconds.
Nicole Lorch, president and chief operating officer of First Internet Bank, talks about how the bank has altered its approach from its start as the first state-chartered, FDIC-insured institution to operate entirely online. She also discusses its recent decision to eliminate overdraft fees, raise its minimum wage, and why its recent acquisition of First Century Bank was called off.
Jill Castilla, the president and CEO of Citizens Bank of Edmond in Oklahoma, talks about the different ways her $354 million-asset bank has expanded its reach and stays relevant, including launching a new niche lending platform designed to help veterans get mortgages. She also discusses staffing challenges, why her bank launched a music festival and the biggest issues facing the industry.
John Ryan, the president and CEO of the Conference of State Bank Supervisors who unexpectedly passed away in May at the age of 58, talked last year about state bank regulators’ efforts to retire the siloed state-by-state system of financial services oversight. He, along with Charlie Clark, the director of the Washington State Department of Financial Institutions, talked about the CSBS’ “Networked Supervision” plan.
Neil Stanley, founder and CEO of The CorePoint, talks about how banks should be thinking about their deposit rate strategy as the Fed raises interest rates and customers begin seeking higher returns for their savings. How quickly should banks be raising their own rates—and what alternatives should they be pursuing?
Former Federal Housing Finance Agency Director Mark Calabria says the housing industry is poised for another meltdown, citing high delinquency rates, low supply and loosening credit standards. In an expansive and candid interview, the former GSE regulator predicts Fannie and Freddie will likely fail again despite his best efforts. He details what went wrong and why, and offers an inside take on the GSEs' relationship with their regulator.
Lauren Seay, reporter for S&P Global Market Intelligence, talks about how the controversy began over credit unions buying banks, efforts by several states to block such deals, and where the debate is going next.
Randal Quarles, former Fed vice chair for banking supervision, talks about how quickly the central bank will tackle inflation, whether the Fed is at risk of becoming too political, and what it was like to help prevent another financial crisis while a pandemic raged. He also talks about his strong views on central bank digital currencies and gives an inside look at whether the Fed really wants to create one.
Steven Schnall, founder and CEO of $900 million-asset Quontic Bank in New York, talks about why the bank is one of the few to fully embrace cryptocurrency, offering a checking account that grants rewards in bitcoin. He also talks about its newly deployed banking wearable device, plans for the metaverse, and why this CDFI wants to continue to push the banking envelope.
Banks saw record inflows of deposits during the pandemic. But just how sticky are those customers—and deposits—going to be? Scott Hildenbrand, chief balance sheet strategist and head of financial strategies group for Piper Sandler, talks about the common fears bankers are facing right now when it comes to funding and liquidity—and what they need to be doing now to prepare for the uncertain road ahead.
James Ballentine, who is set to retire soon after more than 20 years at the American Banker Association’s policy shop, talks about how and why Washington has changed when it comes to making bank legislation. He also previews the fights ahead for bankers on pot banking, the CFPB’s Section 1071 rules, stablecoins and more.
Kate Davidson, the author of Politico’s Morning Money, talks about how she approaches writing one of the financial services industry's most influential newsletters. She also discusses why the Biden administration keeps struggling with its finreg nominations, how the Fed will tackle climate change, and what’s next for interest rates.
Bill Donius, the former CEO and chairman of Pulaski Financial Corp. in Missouri, talks about how he used research into the brain to help grow his St. Louis community bank and write aNew York Times bestseller, “Thought Revolution: How to Unlock Your Inner Genius.” Bill discusses how he uses that research to help companies think outside the box when they approach challenges and opportunities—and how his fellow bankers can learn to do this too.
Sheila Bair, the former chair of the Federal Deposit Insurance Corp., discusses her fears if financial regulation becomes too partisan, as well as tackling several hot-button topics including central bank digital currencies and CRA reform. She also discusses the risks of buy-now, pay-later services and why she writes children’s books aimed at improving kids’ financial literacy.
Isaac Boltansky, director of policy research at BTIG, offers his analysis on a busy week in D.C., including two days of testimony by Fed Chairman Jerome Powell, President Biden’s State of the Union address and the economic impact of Russian sanctions. He also talks about whether the Fed will create a digital dollar and whether banks can soften two key pending rulemakings by the CFPB.
Ongoing economic uncertainty, continued consolidation in the banking industry, tougher regulatory oversight, an overwrought housing market and a potential Fed digital currency are just a few of the issues currently facing banks. Two top leaders at the New Jersey Bankers Association—John McWeeney, its president and CEO, and Mike Affuso, its EVP and director of government relations—assess the obstacles ahead.
Fabrice Coles, senior manager for global public policy at PayPal, talks about how PayPal thinks about financial inclusion, its strategy for partnering with banks and how the pandemic has changed financial services.
James Reuter, President and CEO of $26.7 billion-asset FirstBank in Lakewood, Co., returns to the show to analyze the Fed’s recent 40-page white paper on the creation of a central bank digital currency. What kind of CBDC does the Fed want to create—and how would that impact banks?
The Consumer Financial Protection Bureau recently opened a request for comment on “junk” financial services fees. But what does the agency consider junk fees—and what does it plan to do about them? American Banker’s Kate Berry walks through the CFPB’s agenda and what it means for bankers of all sizes.
Katie Couric, the legendary news anchor and head of Katie Couric Media, sits down with IntraFi Network’s Barb Rehm to talk about her new memoir, Going There. She discusses why she founded her own media company, her past work co-anchoring the Today show, her rocky transition to co-host of CBS Evening News, the Me Too movement and much more.
Todd Phillips, the director of financial regulatory and corporate governance at the Center for American Progress, talks about the dangers of legislating new rules for digital assets when existing regulatory powers may be sufficient. He also discusses the rise of NFTs and why banks should be wary.
FDIC Chair Jelena McWilliams unexpectedly announced recently that she is stepping down Feb. 4. What’s behind this decision—and what does it mean for the independence of the FDIC and other banking regulators? Politico’s Victoria Guida and American Banker’s Brendan Pedersen explore the many facets of the FDIC’s leadership battle.
Jim Edwards, the CEO of $2.1 billion-asset United Bank and immediate former past chairman of the ABA, talks about his bank’s unique approach to finding and fostering the next generation of banking talent. He also discusses several policy challenges facing the industry, including overdraft fees and more stringent regulation.
While much of the economic data is relatively strong, consumers remain pessimistic about the economy, with fears about inflation rapidly rising. Mark Zandi, the chief economist at Moody’s Analytics, goes through the latest data to answer critical questions about the economy headed into the New Year. How worried should we be about inflation? What will the Fed do next? Will the omicron variant cripple the economy just as it seems about to recover?
The Independent Bankers Association of Texas and FedFIS have launched a new professional social media site exclusively for community bankers in an attempt to foster collaboration and allow them to easily compare their tech services and experiences. Christopher Williston, the head of IBAT, discusses how the site started, where it’s going and how it can help small institutions.
Tim Massad, former chairman of the CFTC, tackles the challenges in designing a U.S. central bank digital currency, including how not to disintermediate banks—and why policymakers need to accelerate their discussions. He also offers his take on recommendations for stablecoin supervision, and where regulators may have gotten it wrong in their recent report on the subject.
Robert Fisher, the CEO of $500 million-asset Tioga State Bank and chairman of the Independent Community Bankers of America, talks about the top concerns facing bankers right now, including staffing shortages and tech upgrades. He also discusses the controversial nomination of a new comptroller of the currency, how ICBA wants to address credit unions buying banks, and much more.
James Reuter, the CEO and President of $26.7 billion-asset FirstBank in Lakewood, Co., believes bankers had better wake up to the debate over a U.S. central bank digital currency before it’s too late. He argues that the Fed is almost certain to act, but how it does so could determine the fate of banking.
Buy-Now-Pay-Later has seen explosive growth during the past year, with a new deal announced seemingly every day. What’s behind BNPL’s rapid rise, why are there concerns about it, and is it the next bubble about to burst? Yizhu Wang, the senior fintech reporter at S&P Global Market Intelligence, answers all that and more.
Earlier this year, the Biden administration called for a law that requires banks to report aggregate information to the IRS on inflows and outflows to accounts. But banks have been fiercely fighting back against the plan. Ian Katz, a bank policy analyst at Capital Alpha Partners, offers his views on who is likely to win this political battle, as well as what may happen to the nominee to lead the OCC and whether the White House will renominate Fed Chair Jerome Powell.
Jo Ann Barefoot, a former regulator and now CEO of the Alliance for Innovative Regulation, discusses her efforts to help banking regulators contend with the rapid tech evolution in the financial services sector. She discusses why she’s optimistic that tech can help banks and their supervisors better manage risks, assist the underbanked, and combat long-term challenges like climate change.
Wade Arnold, founder and CEO of Moov Financial, talks about how his startup is tackling one of the fundamental parts of banking—making it easier for businesses to accept, store and disburse money. He also discusses the massive changes under way in the payment system, including the impact of real-time transactions and the rise of cryptocurrency, as well as how the pace of innovation is accelerating.
Greg Becker, CEO of Silicon Valley Bank, talks about his bank’s strategy, including its recent expansion of its capital markets business and M&A business, and where it’s going next. He also assesses the competitive landscape between banks and fintechs and reveals his greatest source of optimism—and concern—for the banking industry right now.
Nima Ghamsari, the founder and head of Blend, talks about his journey as an entrepreneur, from his early days selling items on eBay to founding a fintech in 2012. Since its inception, Blend has moved from helping banks and fintechs with digitizing the mortgage process into what he calls “proactive finance,” including helping financial institutions to digitize personal, auto and other types of loans. Nima also shares his views on the competitive dynamic between banks and fintechs and where he thinks the industry will go next.
There’s been a lot of chatter in the media recently about regulatory concerns on stablecoins, as well as the potential the Fed might offer its own central bank digital currency. But there’s precious little information about what those things actually are—and how they could impact the financial services sector. David Andolfatto, a senior vice president in the research division at the Federal Reserve Bank of St. Louis, goes through the basics on stablecoins and CBDCs, including why regulators have worries on stablecoins and why a digital dollar could be in the offing.
Begun in 2017 with the promise of a better approach to overdraft fees, fintech “Dave” has seen tremendous growth, including more than 10 million customers. CEO Jason Wilk talks about why Dave started by targeting overdraft, how he sees the policy debate over the controversial fees—and his ambitious plans for what’s next.
Acting Comptroller of the Currency Michael Hsu talks about how his federal regulatory work during the 2008 financial crisis is informing his approach to new risks, including the explosive growth of cryptocurrencies, stablecoins and buy-now-pay-later services. He also provides an update on the fintech charter, offers his view of overdraft fees, and the latest on reform of the Community Reinvestment Act.
Rohit Chopra is expected to be confirmed soon as director of the Consumer Financial Protection Bureau. What kind of a leader is he likely to be, and what financial activities will he target first? Kate Berry, who covers the CFPB for American Banker, breaks down how the new director will guide the agency.
Yolande Piazza, the vice president of financial services at Google Cloud, talks about why Google has no interest in being a bank, but instead wants to partner with them. She discusses the momentum behind Google Cloud, where the industry is going next, and the difference between Big Tech and big banks.
Simran Kang, cofounder and CEO of MyFO-Tech, a fintech focused on helping consumers manage their wealth, talks about her experience in creating a fintech, the challenges she faced and the vision for her company. She also discusses what it’s like as a woman entrepreneur, offering a candid view of an industry still widely seen as male-dominated.
With housing prices at all-time highs, the auto market overheating and policymakers worrying about inflation, there are plenty of concerns about the state of the economy. Sayee Srinivasan, the new chief economist of the American Bankers Association, talks through the latest data and whether banks and consumers need to be worried.
The banking industry is sitting on a record amount of deposits, but as post-pandemic life takes shape, many are arguing banks should be focused on retaining and attracting even more traditional, core deposits. Jeff Marsico, banking consultant, blogger and president of the Kafafian Group, makes the contrarian case for why building deposits makes sense in an era of high liquidity. He also discusses what mistakes banks are making right now, how the pandemic is changing institutions’ long-term strategies, and other lessons from his book, “Squared Away: How Can Bankers Succeed as Economic First Responders.”
Sam Sidhu, incoming CEO of Customers Bancorp., explains his bank’s hybrid strategy of partnering with fintechs while also retaining a robust retail presence. Sidhu provides insights into the bank’s recent growth, its forays into block-chain based payments and AI-lending, and plans for the future.
Garry Reeder, the CEO of the newly formed American Fintech Council, discusses the big questions confronting members including the impact of a possible repeal of the OCC’s true lender rule, whether fintechs should have their own charter and if they should be subject to the Community Reinvestment Act.
Bill Briggs, a top official at the Small Business Administration during the creation and administration of the Payment Protection Program, talks about its impact, legacy and how banks and businesses can build on its momentum.
Kris Pease, chief financial officer of Cross River Bank, talks about the community bank’s unique B2B strategy, working with fintech – and fellow bank – partnerships to establish a nationwide footprint. The bank has seen tremendous growth with its plan, increasing its asset size by nearly five times to almost $10 billion by the end of last year.
The Senate voted last week to overturn the Office of the Comptroller of the Currency’s “true lender” rule establishing how and when national banks are considered the lender when a loan is sold. Hannah Lang and Brendan Pedersen, two reporters for American Banker, discuss the rule’s expected repeal and what it means for banks.
Ron Shevlin, managing director of fintech research at Cornerstone Advisors and a senior contributor for Forbes, predicts what’s behind Walmart’s formation of a fintech. He also discusses why many banks are further behind on digital transformation than they think and how they can better improve their customers’ financial health.
Tony Repanich, a former community banker turned cannabis compliance expert, talks about the business opportunities available for banks—as well as the potential pitfalls. He also tackles the House’s recent passage of legislation to protect banks helping legal pot firms and its prospects in the Senate.
Matthew Leising, a reporter for Bloomberg News, talks about his book “Out of the Ether,” which details a daring heist in which Internet thieves stole tens of millions of dollars worth of Ethereum. He talks about how they did it, the development of Ethereum as a cryptocurrency and what the heist says about its future.
John Ryan, the president and CEO of the Conference of State Bank Supervisors, and Charlie Clark, the director of the Washington State Department of Financial Institutions, discuss state bank regulators’ new effort to retire the siloed state-by-state system of financial services oversight. The new system expands state regulators’ successful mortgage licensing system to cover the entire bank as well as nonbank companies.
Scott Sanborn, CEO of LendingClub, talks in-depth about why the prominent fintech opted to buy Radius Bank earlier this year and how that move is transforming the company. He also talks about how competition will heat up in the peer-to-peer lending space as the pandemic ends.
Dominic Ng, the chairman, president and CEO of East West Bank, talks about the evolution of his institution from a small thrift serving Chinese immigrants to a regional powerhouse with a key window into China. He offers advice on how the Biden administration should approach China, as well as his views on the disturbing rise in violence and discrimination against Asian Americans.
David Andolfatto, a senior vice president in the research division at the Federal Reserve Bank of St. Louis, goes beyond the politics of the U.S. debt to tackle what it is, whether it’s a problem, and what steps policymakers should be taking now. Along the way, he challenges common assumptions about the debt level and the debate around it.
Several prominent fintechs, including Square, Varo Money, Lending Club and SoFi, have either chartered or bought banks recently. Kevin Wack, an award-winning reporter for American Banker, breaks down the different ways fintechs are trying to get into banking, how successful they are likely to be and why many bankers are so angry about it.
March 11, 2020, was the day that many Americans began to realize COVID was going to radically change their lives, as businesses transitioned to work from home and the U.S. stopped all travel to Europe. Several bankers had a front-row seat to the events of that day at a White House meeting with President Trump and his advisers. We talk with three participants—Rob Nichols, head of the American Bankers Association, Rebeca Romero Rainey, CEO of the Independent Community Bankers of America, and Richard Hunt, leader of the Consumer Bankers Association—to go behind the scenes about that meeting, what they would advise President Biden now and the impact COVID has had on the financial services industry.
Karen Shaw Petrou, noted bank analyst and author of the new book “Engine of Inequality,” details how the Federal Reserve’s monetary policy and overaggressive bank regulation following the financial crisis have worsened economic inequality. She also discusses how policymakers can reverse course.
Rebeca Romero Rainey, the CEO and president of the Independent Community Bankers of America, talks about fintechs’ increasing efforts to break into banking, the return of Walmart’s banking ambitions, and her group’s agenda for 2021. She also tackles what banks learned during the first round of PPP and responds to Gary Cohn’s prediction that community banks are due for significant consolidation.
Daniel Tarullo, a former Federal Reserve governor and one of the key architects of the post Dodd-Frank bank regulatory regime, sits down for a wide-ranging interview on the challenges facing banks and their regulators right now. He talks about Big Tech and banking, climate change, the need for money market mutual fund reform, and the greatest risks to the financial system right now. He also tackles whether President Biden should go big on stimulus or instead worry about the resurgence of inflation and whether the Fed has taken on too much responsibility.
Jamie Dimon, the chairman and CEO of JPMorgan Chase, raised some eyebrows last month with his direct assessment of the threat posed by fintechs to banks. But is he right? Penny Crosman, the executive editor for technology at American Banker, talks through why Dimon made that assessment and how it relates to the Durbin amendment, where fintechs are ahead of banks, and the areas banks still have key advantages.
The housing market has remained resilient in the face of COVID-19, but will that continue as forbearance moratoria run out and stimulus checks can no longer cover rent and mortgages? Richard Weidel, the CEO of Princeton Mortgage, talks about how mortgage firms have responded to the virus, whether it will make lasting changes in the mortgage process, and if we’re headed for another housing crisis.
Patrick Sells, the head of bank solutions for NYDIG and the former chief innovation officer of Quontic Bank, talks about consumers’ growing interest in storing Bitcoin at their local bank, why he helped create a rewards card tied to the cryptocurrency, and whether its incredible volatility is an impediment to its use.
Ian Katz, a bank policy analyst at Capital Alpha Partners, tackles the big questions banks have about a new administration and Congress. Will Sen. Sherrod Brown be able to enact his agenda as chairman of the Senate Banking Committee? How will Gary Gensler guide the SEC? What will new leadership at the OCC and CFPB tackle first? All this and much more on the latest episode of Banking with Interest.
Raj Date, the managing partner of venture capital firm Fenway Summer and former acting director of the CFPB, talks about the attack on the U.S. Capitol, the change of control in the Senate, how fintechs are faring during the COVID crisis, and where we go from here.
Golf Channel Play-by-Play Host Rich Lerner sits down with IntraFi’s Barb Rehm to talk about how professional golf has changed over the years, what players he’s watching now, and what the future of golf might bring. He also offers lessons from the top golfers and how bankers might benefit from them.
Greg Baer, president and CEO of the Bank Policy Institute, details why many in the industry are opposing fintech Figure’s recent application to charter a national bank and how it fits into a larger debate over Big Tech and banking. He also discusses his concerns with the OCC’s recent fair lending proposal and why he objects to stress testing for climate change.
The Office of the Comptroller of the Currency is in flux. President Trump just nominated Acting Comptroller Brian Brooks to serve as the leader for a five-year term, but it’s not clear he can be confirmed in time, or that the Biden administration will keep him there even if he is. American Banker reporter Brenden Pedersen gives the inside scoop on the Trump administration’s 11th-hour gambit, how President-elect Biden is liable to respond, and the impact the leadership battle will have on CRA, the proposed payments charters and more.
If Republicans keep control of the Senate, Sen. Pat Toomey is expected to lead the banking panel for the next two years. What would his priorities be? Is he going to push legislation or pursue an oversight agenda? How will he treat nominees from President-elect Biden? We talk to Christopher Gahan, the former chief of staff for Sen. Toomey, to find out more about what bankers can expect.
Paula Roberts, U.S. Consumer Economist for KKR, talks about her research into how the pandemic is changing cities and the behavior of consumers. She tackles tough questions—are cities in jeopardy as a result of COVID? Will Millennials ever want to work in an office again? How will COVID permanently change consumer habits and expectations?
Of all the banking regulators, the Consumer Financial Protection Bureau is expected to see the most change as a result of the presidential election. Award-winning journalist Kate Berry discusses who is likely to lead the agency, what Trump administration actions they will probably roll back and what other areas they will target next. She also candidly discusses the difficulty of covering the agency, and why the legal battle over its leadership isn’t over yet.
Ed Mills, a longtime bank analyst for Raymond James, talks about who President-elect Joe Biden will appoint to the top regulatory positions at the CFPB and OCC, and how that will impact those agencies and bank regulatory policymaking overall. Plus, Mills plays a “lightning round” on how the election changes the prospects for housing finance reform, postal banking, CRA reform and much more.
Gary Cohn, the former chief economic advisor to President Trump and chief operating officer at Goldman Sachs, talks about the challenges facing banks today, including a widening technology gap. He also details how big banks need to change course to ensure employees aren’t engaging in bad behavior, discusses the need for economic stimulus in response to COVID-19 and tackles whether the workplace will change permanently as a result of the virus.
Christopher Williston, the president and CEO of the Independent Bankers Association of Texas, studied theology in college before eventually following in his father’s footsteps as head of the banking trade group. So it’s no surprise he’s willing to go deep on the fundamental challenges facing banks right now, including how community banks can continue to survive.
Sam Maule, cohost of Fintech Insider and the managing partner for North America at fintech consultancy 11:FS, talks about whether we’re headed for a fintech apocalypse, what’s behind growing momentum for banking-as-a-service and whether banks are in danger of becoming obsolete.
Cam Fine, the former president and CEO of ICBA, and Ed Yingling, the former president and CEO of ABA, break down the key issues, races and potential outcomes for bankers as a result of the election next month. What banking issues will come to the fore if Democrats sweep the White House and Senate? What would change for banking in a second Trump administration? The two offer their unique insights into how the election will affect banks no matter the outcome.
Kathryn Petralia, the cofounder and president of small business fintech Kabbage, talks about how it became the No. 2 processor of PPP loans in the country and how the firm plans to take advantage of its PPP success. She also touches on its pending sale to American Express, the launch of business checking accounts and why she still wants a federal fintech charter.
Aaron Klein, the policy director at the Center on Regulation and Markets at the Brookings Institute, talks about why the U.S. has lagged behind other countries when it comes to real-time payments. He discusses how banks can speed up the adoption of real-time payments and why it would be helpful during the COVID crisis. He argues real-time payment adoption might mean more for unbanked consumers than postal banking, of which he remains skeptical.
Rob Nichols, the president and CEO of the American Bankers Association, talks about whether another financial crisis is in the offing, how Washington could help banks now, and the impact of the election on the banking industry. Oh, and he also reveals what U2’s Bono is like in person.
Misha Esipov, the founder and CEO of Nova Credit, discusses how he helped to build the world’s first cross-border consumer credit reporting agency, why immigrants are critical to economic growth in the U.S., and how credit history is key to addressing economic disparities.
Matt Anderson, managing director with Trepp, answers critical questions about the future of commercial real estate, including how deep the losses may be, what institutions are most vulnerable, and what banks should be doing to prepare for the potential damage.
Jeff Plagge, the Iowa Superintendent of Banking, talks about the growing tensions between the OCC, which wants to offer a national charter for payments companies, and state regulators, who believe it would be systemically risky to do so. Plagge also discusses the potential credit impact of COVID-19 on commercial real estate and agricultural lending.
Craig Scheef, the founder, chairman and CEO of Texas Security Bank in Dallas, talks about his bank’s unique approach to small business lending, how the institution successfully doubled its asset size thanks to the PPP program, and why he believes policymakers underestimate the value of a free enterprise system.
Malia Lazu, the chief experience and culture officer at $13.1 billion-asset Berkshire Bank in Boston, talks about why banks often fail to reach millennial and minority customers, the challenges facing community banks, and the future of the branch.
Richard Hunt, the head of the Consumer Bankers Association, talks about the impact of a recent Supreme Court decision that said the CFPB’s leadership structure was unconstitutional, and why he fears it will inhibit banks from offering small-dollar loans. He also discusses the OCC’s final CRA reform rule, why there’s a coin shortage in the U.S. and the future of banking and branches after COVID-19.
It’s been nearly 12 years since Fannie Mae and Freddie Mac were seized by the government, with Congress unable or unwilling to resolve the future of the two government-sponsored enterprises. But there are signs GSE reform may happen soon, with or without Congress.
Patrick Sells, the chief innovation officer at Quontic Bank and American Banker’s Digital Banker of the Year, pushes back on the perception that banks aren’t innovative. He explains how to get bank employees on board with a digital overhaul and the biggest obstacles to ingenuity in banking.
John Hope Bryant, the founder, chairman and CEO of Operation HOPE, the largest not-for-profit provider of financial literacy and financial inclusion, details his ambitious plan to confront economic inequality. He also talks about the legacy of banks and slavery—and what banks need to be doing to deal with that.
Karen Shaw Petrou, managing partner of Federal Financial Analytics, who has been hailed as “the sharpest mind analyzing bank policy today,” says banks and policymakers need to focus on economic inequality before it’s too late. She discusses her proposed solution and what happens if we don’t act in time.
The crisis has forced customers to change how they bank—and that’s creating opportunities for banks ready to seize them, according to Elizabeth Wolverton, the chief strategy and customer experience officer at Synovus Bank in Columbus, Georgia. Liz also discusses why inclusion and diversity are so important to the industry’s future.
Acting Comptroller Brian Brooks talks about a new project aimed at helping with economic inclusion and the role of banks in combating economic inequality. He also discusses his plans for a federal charter for payment companies and explains why he warned mayors around the country about possible credit problems at banks if small businesses are not allowed to reopen and responds to criticism of the recently-finalized Community Reinvestment Act reform rule.
John Dugan, the chairman of Citigroup’s board of directors, says the future of banking turns on the industry’s pandemic performance. It will affect how regulators oversee them, how shareholders invest, and how the public feels about banks. The former Comptroller of the Currency doesn’t underestimate the challenges, but he is optimistic that banking will emerge from this crisis with its reputation enhanced.
Hans Morris, the managing partner of Nyca Partners and the chairman of Lending Club, discusses the impact the COVID crisis is having on fintechs and how the financial services sector is likely to evolve.
The former director of the Consumer Financial Protection Bureau and author of the book “Watchdog” talks about the financial risks posed to consumers during the current crisis and what steps policymakers should be taking to address them. He also offers his predictions on what a pending Supreme Court ruling could mean for the CFPB and reveals why the Trump administration balked from ousting him while he was the agency’s leader.
Tim Massad, a top Obama administration financial regulator and former head of TARP, says we should look to actions taken by the Roosevelt administration to reframe the government’s response to the coronavirus. He also discusses whether the U.S. needs its own digital currency, why we lag behind on real-time payments and how airlines got a sweetheart deal.
Noah Wilcox, the chairman of the ICBA and CEO of two Minnesota community banks, talks about the disastrous relaunch of PPP, what policymakers need to do going forward, and how community banks are faring overall during the crisis.
Harit Talwar, the head of digital finance for Goldman Sachs, talks about how customers are changing their financial activity in response to the coronavirus. He also discusses Marcus' new app, provides details about its partnerships with Apple and JetBlue, and hints where it is headed next.
Barbara Rehm talks to Gene Ludwig, a former comptroller of the currency and now chairman and CEO of Promontory Financial Group, about what banks and the government should be doing to help the economy recover. "We have to act with boldness."
In an in-depth interview, entrepreneur and Shark Tank co-star Mark Cuban talks about what went wrong with the Payment Protection Program, how policymakers can fix it, and why big banks turned from hero to villain in this crisis. He also touches on possible presidential ambitions and his vision for the future of America.
Jill Castilla, the president and CEO of Citizens Bank of Edmond in Oklahoma, talks about her collaboration with Mark Cuban of Shark Tank, how the PPP program has worked for her institution and other ways she’s trying to help those affected by the spread of the coronavirus.
In the first episode of Banking With Interest, a new financial services podcast by Promontory Interfinancial Network, host Rob Blackwell talks to former ICBA President and CEO Cam Fine about the challenges facing banks during the current COVID-19 crisis. What should community banks and other financial institutions be doing at a time like this? What kinds of banks are going to be hit hardest? Will there be bank failures? Cam offers frank talk during troubled times.