Banking with Interest

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, the first woman and African-American to chair the House Financial Services Committee, discusses her long career in Congress and evolving financial policies. She highlights the importance of community banks and advocates for housing reform and stablecoin regulation. Waters reflects on post-election messaging and education in the Democratic party, critiques the influence of billionaires on policies, and emphasizes the need for accountable leadership. She also addresses the challenges faced by communities impacted by disasters like the Los Angeles wildfires.

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.

Michael Hsu, the Acting Comptroller of the Currency for over three years, dives into the lessons from the Silicon Valley Bank collapse and the urgent need for new liquidity regulations. He discusses the complexities of regulatory restructuring, addressing the dangers of charter shopping and how it impacts banking stability. Hsu also shares insights on cryptocurrency's dual nature—balancing its speculative risks with its innovative potential—while advocating for a regulatory framework that ensures safety and accountability in the ever-evolving financial landscape.

Evan Weinberger, a banking reporter at Bloomberg Law, dives into the Trump administration's controversial plans to potentially eliminate the FDIC or merge it with other agencies. He discusses ongoing conflicts at the CFPB and the implications of its recent regulatory changes, like the new overdraft rule. The conversation sheds light on the historical context of financial regulation, the challenges faced under a Republican Congress, and how these factors might reshape banking oversight in the future.

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.