Banking with Interest

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.