Banking with Interest

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? 

Evan Weinberger, a banking correspondent at Bloomberg Law, dives into the controversial plan to merge the FDIC's oversight into the OCC without Congress's green light. He discusses the potential fallout for community banks and the evolving dynamics within these regulatory bodies. Weinberger highlights concerns about transparency, the historical trust in the FDIC, and the balance of power between Congress and the executive branch. He also shares insights on ongoing lawsuits affecting federal employees and the political landscape surrounding banking regulations.

Victoria Guida, an Economics correspondent at Politico, and Brendan Pedersen, a Financial services reporter at Punchbowl News, dive into the shifting landscape of banking regulation under the Trump administration. They discuss the fate of the CFPB and what it means for consumer protection. The conversation touches on the recent meeting of major bank CEOs with the Senate Banking Committee and the implications of potential changes in oversight roles among regulatory bodies. Plus, they delve into intriguing questions about federal payment security and the evolving role of data in the financial sector.

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, 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.