Banking with Interest
168 episodes - English - Latest episode: 13 days ago -Banking with Interest, a podcast by IntraFi, features in-depth analysis and insight into the policy changes reshaping the banking industry. With insightful interviews and previews of pending policy challenges, the podcast is an essential listen for anyone connected to the financial services industry.
Banking with Interest is hosted by Rob Blackwell, an award-winning former journalist with more than two decades of experience as an expert on financial services policy. He is now Chief Content Officer and Head of External Affairs with IntraFi.
The podcast theme song was written and produced by Stellar Tracks courtesy of Pond5. The information, views, and opinions expressed during Banking With Interest belong solely to Rob Blackwell and his guests and do not represent those of IntraFi LLC, its directors, management, or employees. Any ideas and strategies contained within the podcast are for informational purposes only and do not constitute legal or investment advice.
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Episodes
Klein vs. Calabria Round 2: How to Solve the Housing Crisis
April 17, 2024 10:00 - 36 minutes - 34.6 MBAaron Klein, senior fellow at the Brookings Institution, and Mark Calabria, former director of the Federal Housing Finance Agency, debate the best way to address the housing crisis, as well as the dangers of politicizing banking regulation, whether the Fed is too worried about consensus, if the central bank is secretly working on a central bank digital currency and who should play The Sphere next.
Calabria vs. Klein Round 1: Bank Rescues, Fed Playing Politics, Liquidity Fixes
April 10, 2024 10:00 - 40 minutes - 37.7 MBMark Calabria, former director of the Federal Housing Finance Agency, and Aaron Klein, senior fellow at the Brookings Institution, discuss how politics factors into the Fed’s monetary policy decisions, decry the rescue of uninsured depositors last year, debate how to fix liquidity rules and weigh in on revamping the FHLBs.
Steele on What’s Needed After SVB, Biggest Threat to Banks, M&A Policy
April 03, 2024 10:00 - 47 minutes - 36.2 MBGraham 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.
How SVB’s Collapse Changed Bank Policy for Good
March 21, 2024 10:39 - 32 minutes - 24.1 MBOne year after the fall of Silicon Valley Bank, the reverberations into banking policy continue. Brian Gardner, Chief Washington Policy Strategist at investment bank Stifel, discusses how the failure impacted bank supervision and the debate over new capital and liquidity rules—and how it will remain a part of the calculus moving forward.
Whip Emmer on CBDCs, “Junk” Fees, Crypto and Community Banks
March 13, 2024 09:00 - 38 minutes - 32.5 MBHouse 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.
“The Most Contentious Fight in Washington Right Now”
March 06, 2024 11:00 - 35 minutes - 34 MBRichard 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.
How Banks Can Win the Battle for Deposits
February 28, 2024 11:00 - 34 minutes - 26.9 MBNeil Stanley, CEO of the CorePoint, offers strategies and products banks can use to attract and retain deposits in a highly competitive deposit environment.
Esther George on Interest Rate Cuts, CRE, Bank Failures, and Everything in Between
February 21, 2024 10:00 - 47 minutes - 36.6 MBThe 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.
Are We Headed for Another Regional Bank Crisis?
February 13, 2024 11:00 - 23 minutes - 18.5 MBAfter 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.
Why the War Over "Junk" Fees Has Heated Up
February 06, 2024 11:00 - 25 minutes - 19.6 MBKate 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.
Bank M&A was “miserable” in 2023. Will this year be even worse?
January 30, 2024 11:00 - 19 minutes - 14.3 MBNaomi 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.
The “Existential” CFPB Plan Banks Should Care About
January 23, 2024 11:00 - 33 minutes - 30.1 MBJohn 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.
Would Banks Win a Lawsuit Against the Basel III Capital Plan?
January 17, 2024 11:00 - 33 minutes - 26 MBGreg 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.
The Road Ahead for Community Banks in 2024
December 12, 2023 11:00 - 40 minutes - 34.1 MBDerek 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.
Attack of the (Voice) Clones: The Perils of AI for Banks
December 05, 2023 11:00 - 35 minutes - 27.9 MBAs 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.
How FHLB Reform Can Help Banks, Housing
November 28, 2023 11:00 - 42 minutes - 34.2 MBCornelius 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.
Quarles on Capital Plan, SVB Criticism, Interest Rates & Fed Power Dynamics
November 14, 2023 10:00 - 56 minutes - 56.2 MBRandal 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.
Inside the Conviction of SBF – And What It Means for Crypto, Banks
November 07, 2023 11:00 - 41 minutes - 31.8 MBZeke 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.
The Case Against a U.S. Retail CBDC
October 31, 2023 10:00 - 41 minutes - 32.9 MBChristina 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.
Everything Banks Need to Know about the Final CRA Rule
October 25, 2023 10:00 - 22 minutes - 18 MBEbrima 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.
The CFPB Is Here to Stay, So What's Next?
October 17, 2023 10:00 - 32 minutes - 29.2 MBNow 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.
Community Bankers Are Tired of Being Jerked Around
October 03, 2023 10:00 - 34 minutes - 34.2 MBSteve 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.
End of an Era: Deposit Gathering Near Rate Cycle Peak
September 26, 2023 10:00 - 42 minutes - 35.6 MBMatt 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?
Are Bank Regulators Overstepping Their Legal Authority?
September 19, 2023 10:00 - 44 minutes - 47.1 MBJonathan 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.
The Case Against Higher Bank Capital Requirements
September 12, 2023 10:00 - 35 minutes - 35.3 MBKevin 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.
Have We Learned the Wrong Lessons From SVB's Failure?
July 26, 2023 10:00 - 37 minutes - 29 MBSteven Kelly, associate director of research at the Yale Program on Financial Stability, pushes back on multiple narratives about why SVB failed and what policymakers should do to prevent another collapse like it. He also weighs in on federal regulators’ new capital proposal and the battle over stablecoin regulation.
Beyond the Hype: How FedNow Will Change Payments
July 19, 2023 10:00 - 42 minutes - 30.5 MBAaron Klein, senior fellow in economic studies at the Brookings Institution, talks about why he is skeptical of the impact of FedNow, the central bank’s instant payment system due to launch this week.
How Twitter’s Possible Demise Could Impact Bank Policy Discussions
July 12, 2023 10:00 - 38 minutes - 28.8 MBSean Tuffy, former head of market and regulatory intelligence at Citigroup, talks about how the changing dynamics at Twitter may impact bank policy and media narratives. He also discusses crypto and stablecoin legislation, money market mutual fund reform, and the lessons of Silicon Valley Bank’s failure.
The Looming Battle Over Bank Capital Requirements
June 28, 2023 10:00 - 26 minutes - 20.6 MBJohn Heltman, Washington Bureau Chief of American Banker, talks about federal regulators’ pending proposal to raise capital on banks with more than $100 billion of assets. He tackles how that fits into the overall Basel capital plan, how banks and Republicans are planning to fight back, and what kind of impact it could have on bank lending.
Santander US CEO Wennes on Regional Banks, Capital Regs and Reaching Gen Z
June 13, 2023 10:00 - 31 minutes - 27.2 MBTim Wennes, the CEO of Santander US, talks about the future of regional banks, including the potential for higher capital requirements and a possible credit crunch. He also weighs in on fears around commercial real estate, why the bank is expanding its auto lending business, and how it is targeting the next generation of bank customers.
CBA’s Johnson on M&A, Credit Card Late Fees, and CFPB’s Future
June 06, 2023 09:00 - 31 minutes - 27.3 MBLindsey Johnson, who started last summer as the head of the Consumer Bankers Association, discusses how policymakers are reacting to the recent banking turmoil, why the CFPB’s credit card late fee proposal will harm consumers, and whether regulators will allow more M&A.
What Bankers Need to Know After Marathon Hearings
May 23, 2023 10:00 - 41 minutes - 33 MBLast week saw a remarkable number of Capitol Hill hearings on the bank policy front, with multiple sessions featuring top bank regulators and the former chief executives of three failed banks. Claire Williams and Kyle Campbell, reporters with American Banker, offer their takeaways and remaining questions from these hearings, including what comes next from lawmakers and regulators.
Was the 2018 Reg Relief Law Responsible for Recent Bank Failures?
May 17, 2023 10:00 - 36 minutes - 29 MBGreg Baer, the president and CEO of the Bank Policy Institute, takes issue with claims that S. 2155 played a role in the collapse of three regional banks. He also tackles what areas policymakers should look at, whether Congress is likely to enact any legislative changes directed at banks, and why the CFPB is off base when it comes to its proposal targeting credit card late fees.
The Banking Crisis That Wasn’t
May 09, 2023 10:00 - 31 minutes - 29.2 MBJohn Blizzard, CEO of Seattle Bank, talks about his experiences after the recent regional bank failures and the lack of concern by customers. He also discusses the nationwide launch of CD Valet, which allows consumers unbiased access to the best CD interest rates.
Four Reports and a Failure
May 02, 2023 10:00 - 32 minutes - 24.5 MBJohn Heltman, Washington Bureau Chief of American Banker, tackles the many policy questions resulting from the failure of First Republic Bank. He also discusses three regulatory reports examining two failures in March—and another report detailing how the FDIC wants to revamp deposit insurance.
How a Former FHFA Director Would Reform the FHLBs
April 25, 2023 10:00 - 46 minutes - 39.9 MBMark Calabria, the former director of the Federal Housing Finance Agency, offers his take on recent criticisms that the Federal Home Loan Banks have gone too far outside their mission—and what he would do to address them.
How Banking Policy Has Changed After Two Massive Bank Failures
April 18, 2023 16:42 - 37 minutes - 28.5 MBRichard Hunt, the former head of the Consumer Bankers Association, and Jaret Seiberg, managing director of Washington Research Group with TD Cowen, return to the show to discuss the post-SVB bank policy world. Is the crisis over? Will Congress enact new legislation and what will it target? What banks are now considered too big to fail?
What We Learned After Two Hearings on SVB, Signature Failures
March 30, 2023 10:00 - 34 minutes - 27 MBClaire Williams, the Capitol Hill reporter for American Banker and Brendan Pedersen, the banking reporter for PunchBowl News, offer their takeaways from back-to-back hearings on the failures of Silicon Valley Bank and Signature Bank. They discuss what lawmakers were focused on and how regulators responded as well as preview potential regulatory and legislative changes ahead.
The Industry Demanded a Bailout. This Regulator Said No.
March 16, 2023 10:00 - 41 minutes - 32.6 MBMark Calabria, former director of the Federal Housing Finance Agency and author of the new book Shelter from the Storm, talks about why he resisted calls to bailout mortgage servicers during the pandemic, and how he knew their predictions of another mortgage crisis were overblown.
The Steep Price Banks May Pay After Latest Financial Rescue
March 14, 2023 10:00 - 31 minutes - 24.8 MBEmily Flitter, finance reporter for the New York Times, tackles the big questions stemming from the extraordinary actions taken by regulators on Sunday. Is this a bailout? Is there another banking crisis in the offing? What are the potential costs to banks? Will they face Dodd-Frank 2.0?
Politico’s Guida on Fed Tea Leaves, Vice Chair Pick and CBDCs
March 07, 2023 11:00 - 40 minutes - 30.4 MBVictoria Guida, economic policy reporter for Politico, dives into what Fed officials are trying to tell markets—and why markets don’t always appear to be taking the hint. She also tackles the latest names up to be the new Fed vice chair and whether Treasury secretly wants to create a central bank digital currency.
Are Banks Ready for the Deposit Battle Royale in 2023?
February 28, 2023 11:00 - 39 minutes - 30.5 MBBankers nationwide are experiencing heightened competition for deposits as consumers increasingly recognize their ability to shop for the best rate. Neil Stanley, founder and CEO of The CorePoint, discusses the best strategies banks can use to keep their existing deposits and attract new ones.
What Other Banks Can Learn from Wells Fargo’s Past Troubles
February 14, 2023 11:00 - 26 minutes - 20.9 MBKevin Wack, national editor for American Banker, talks about his multi-part series examining the phony-accounts scandal at Wells Fargo, how he persuaded a former key executive there to provide previously unknown details about what happened, and what other institutions can learn.
Inside the CFPB's Battle Over Credit Card Late Fees
February 07, 2023 11:00 - 27 minutes - 20.7 MBThe CFPB surprised the banking industry last week by proposing to limit credit card late fees to $8, a much lower figure than most expected. Ian Katz, managing director of Capital Alpha Partners and a former Bloomberg reporter, discusses what other specifics are in the plan, how the industry is reacting, and how the issue is likely to play out this year.
Are the FHLBs Dangerously Off Mission?
January 31, 2023 11:00 - 29 minutes - 22 MBWhile the Federal Housing Finance Agency conducts a historic review of the Federal Home Loan Banks’ mission, several critics are questioning whether the housing government-sponsored enterprises have lost sight of their original purpose. Karen Shaw Petrou, managing partner of Federal Financial Analytics details the controversy, and how the FHLBs should be reformed.
Banking-as-a-Service is “Here to Stay,” New Association CEO Says
January 24, 2023 11:00 - 26 minutes - 22 MBBill Briggs, a key architect of the Paycheck Protection Program, talks about his just-announced role as the CEO of the Banking as a Service Association, a group representing banks that partner with fintechs to allow them to offer financial services. He discusses the need for a new set of best practices and how he believes the model is here for good despite enhanced regulatory scrutiny of bank-fintech partnerships.
Rodgin Cohen on Crypto, Capital and M&A Challenges
January 17, 2023 10:00 - 44 minutes - 36.9 MBH. Rodgin Cohen, the senior chair of Sullivan & Cromwell and one of the country’s preeminent bank lawyers, talks about how heightened regulatory scrutiny of M&A is impacting the industry, whether some banks are “too big to manage,” the Fed’s plans to raise capital, and the dire need for crypto regulations.
Pardon The Interruption: The Banking Policy Edition
December 13, 2022 11:00 - 50 minutes - 44.4 MBPolite disagreement is overrated. Richard Hunt, the former CEO of the Consumer Bankers Association, and Jaret Seiberg, a top bank analyst with Cowen Washington Research Group, spar (and sometimes agree) over several critical topics in financial services. That includes pending Fed changes to capital standards, Zelle alterations, FedNow, CRA reform, FTX's fallout, CFPB’s future, pot banking and much more.
Inside the Battle Over Fed Master Accounts
December 06, 2022 11:00 - 31 minutes - 27.4 MBThe Fed is proposing to name all nonbank companies that apply for—and ultimately receive—a master account with the central bank. Kyle Campbell, the Fed reporter for American Banker, goes through why this issue matters to banks, how it connects to both a lawsuit and possible legislation, and where it’s going next.
Why Regulators Need to Rework CRA Reform: Ludwig
November 29, 2022 11:00 - 42 minutes - 41.6 MBEugene Ludwig, the former Comptroller of the Currency who led the last successful effort to reform the Community Reinvestment Act, details why the current proposal by regulators needs to be reproposed. He also tackles how banks should be evaluating their fintech partnerships in light of supervisory scrutiny, and how he sees the fintech sector as a managing partner at venture capital fund Canapi Ventures.