Banking with Interest

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.

Exploring the aftermath of Silicon Valley Bank's collapse and its impact on bank supervision and policy-making strategies. Reflecting on regulatory supervision post-collapse, challenges in home loan bank reform, bank stability concerns, and delays in FDIC's M&A policy changes. Discussing bank policies, competition, and promoting de novo formation while discouraging mergers.

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 the obstacles faced, including asset quality, pricing expectations, lack of suitable targets, cultural integration, and regulatory approval challenges. The chapter also explores the potential changes and proposals in bank M&A, such as dropping a 1996 OCC rule and collaboration with other agencies to assess competition in the industry.

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.