Fintech Takes
Fintech Takes: What the Hell’s Going On (Bank Regulation, Stablecoins, and Credit)
May 14, 2025
Rob Blackwell, Chief Content Officer at IntraFi and host of the Banking With Interest podcast, delves into the chaotic world of bank regulation and stablecoins. He discusses Treasury Secretary Scott Bessant's bold moves that could alter the regulatory landscape. The conversation turns to stablecoins, exploring how political tensions are impacting bipartisan progress and the risks of major companies like Amazon entering banking. Lastly, they tackle the future of open banking and the potential rollback of critical regulations, wrapping up with a fun debate that touches on both policy and pop culture.
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Quick takeaways
- Scott Bessent's proactive leadership at the Treasury signifies a shift towards increased regulatory control over banking practices, challenging the era of independent agency oversight.
- Legislative efforts concerning stablecoins face serious hurdles, especially due to bipartisan disagreements and concerns surrounding the influence of figures like former President Trump.
Deep dives
Changing Dynamics in Bank Regulation
Scott Bessent's approach to bank regulatory policy marks a notable shift within the Treasury Department, diverging from past practices under previous administrations. Unlike former Treasury Secretaries who typically reacted to crises or deferred to regulators, Bessent is actively taking the lead in shaping policies. His ambitious agenda was evident in a recent speech where he detailed various regulatory initiatives aimed at transforming the banking landscape. This proactive stance suggests a new era in bank regulation where the Treasury seeks to exert more control over regulatory decisions.
