Bankshot

Buy the People: Why the CFPB is a lightning rod government agency

April 18, 2024 13:00 - 31 minutes - 43.7 MB

The Consumer Financial Protection Bureau was created to protect the people from financial predation. But there are very different interpretations of what that means, and whether the people should be protected by — or from — the government.

Buy the People: Two visions, one rule – How Basel injected populism into bank capital

April 11, 2024 13:00 - 30 minutes - 42.3 MB

A regulatory proposal to raise bank capital has spurred banks to fight back with a populist appeal to consumers, while regulators say more capital is what's needed to save banks from more crises — and help consumers.

Buy the People: Why everyone loves to hate the Fed

April 04, 2024 13:00 - 38 minutes - 53.5 MB

The Federal Reserve, historically a secretive and isolated institution, has made a concerted effort to explain itself to and be understood by the public since 2008. But try as it might, the central bank is still viewed by many as an enigma, if not an enemy.

Buy the People: Red as Rust — Sherrod Brown’s battle for Ohio’s populist vote

March 28, 2024 16:27 - 25 minutes - 34.9 MB

Senate Banking Committee Chairman Sherrod Brown faces a tough 2024 campaign to recapture his Ohio senate seat in a state that’s increasingly Red. Can the same state that elected conservative populist firebrand J.D. Vance also re-elect Sherrod Brown? And what do the political undercurrents apparent in Ohio mean for banks?

Coming soon: Buy The People, a Bankshot season on populism in finance

March 21, 2024 14:18 - 9 minutes - 12.5 MB

American Banker editor-in-chief Chana Schoenberger and Washington bureau chief John Heltman talk about the new season of Bankshot, which explores how populism has emerged as a driving force in financial regulation.

Ep. 69: What banks need to know about the employee-owned business boom

December 28, 2023 12:00 - 27 minutes - 38.1 MB

The number of businesses shifting to an employee ownership model has ballooned in recent years, and experts say that trend is likely to accelerate. That could have important implications for banks aiding that transition and for the future of small business lending.

Ep. 68: A peek into the future of payments

November 30, 2023 14:00 - 23 minutes - 31.8 MB

How the next generation of payments technology is being developed in fields such as public transit, sports and long-haul trucking.

Ep. 67: The ‘poignant American drama’ of the Home Loan Bank System

November 02, 2023 15:25 - 21 minutes - 29.7 MB

The failures of Silicon Valley Bank, Signature Bank and First Republic brought to light the Federal Home Loan Banks’ role as a ‘lender of next-to-last resort.’ Some critics say that the review from the Federal Housing Finance Association should bring the system back to its original purpose of oiling the mortgage finance market.

Ep. 66: How this spring’s bank failures will shape bank supervision

September 28, 2023 15:00 - 24 minutes - 33.5 MB

A string of big bank failures this spring has cast all manner of regulatory policies into question, but perhaps the most vexing — and most consequential — is the relationship between banks and their government supervisors. But changing an already changing supervisory culture is easier said than done.

Ep. 65: Banks, Buffalo and a mass shooting – How the industry can help heal a targeted community

August 31, 2023 15:00 - 34 minutes - 47.3 MB

In the aftermath of last year’s racially motivated mass shooting in a predominantly Black community in Buffalo, New York, American Banker reporter Allissa Kline explores what responsibility banks have to help segregated, impoverished communities that were shaped in part by past discriminatory lending practices.

Ep. 64: Earned wage access: Early payday or payday loan?

July 27, 2023 15:00 - 23 minutes - 32.2 MB

Fintechs created earned wage access so cash-strapped employees could get an advance on their next paycheck to cover urgent expenses. Some say repeat usage of fee-based EWA resembles a payday loan, sparking debate over whether regulators should call EWA a loan.

Ep. 63: Unraveling the fallout from FTX's spectacular collapse on the crypto sector

June 29, 2023 15:00 - 44 minutes - 60.5 MB

The demise of FTX, a prominent crypto exchange, late last year, has left the crypto industry grappling with the consequences and uncertainties left in its wake. As the crypto sector teeters on the edge of more forceful regulation, the aftermath of FTX's explosion has revealed deep fault lines within the industry and increased banks' already healthy level of caution towards the technology, especially after more crypto-aligned banks failed in 2023. The once-unified industry now faces a turbule...

Ep. 62: A tiny credit union's tall order

May 25, 2023 13:00 - 27 minutes - 38 MB

Holy Trinity Baptist Church Federal Credit Union has about $24,000 in assets, making it one of the smallest credit unions in the U.S. But it has survived and thrived over the past 50-plus years with low overhead and a small but loyal membership.

Ep. 61: The long shadow of the 2023 banking crisis

April 20, 2023 13:00 - 35 minutes - 49.3 MB

The failures of Silicon Valley Bank and Signature Bank sent a shockwave through the financial system. Even if the worst is behind us, the event will have enormous consequences for banking regulation and supervision for years to come.

Ep. 60: Lost in translation: Why non-English speakers can struggle at banks

March 09, 2023 14:00 - 25 minutes - 35 MB

Consumers who aren’t proficient in English have long struggled to get help from banks in their preferred language. Banks and regulators are trying to fix that, but the solution has taken years.

Ep. 59: Behind the Wells Fargo story: An elusive corporate insider opens up

February 09, 2023 14:00 - 21 minutes - 29.8 MB

A reporter tried for more than two years to speak with Michael Bacon, the megabank’s former chief security officer. Bacon eventually sat for around 30 interviews, painting a detailed picture of the Wells executive suite as the fake-accounts scandal unfolded.

Ep. 58: Home appraisers are fed up with how their industry is run

September 08, 2022 01:30 - 42 minutes - 57.9 MB

Frustrations with gatekeeping, a lack of diversity and the way home appraisal is overseen are spurring many practitioners to call for an overhaul of the industry's governance structure.

Ep. 57: Can congressional Democrats beat back a red wave?

July 28, 2022 13:05 - 22 minutes - 31.2 MB

Democrats are disfavored in this year's midterm elections, but several factors are keeping races close. The outcome will affect the bank regulatory trajectory for at least the next two years.

Ep. 56: Cannabis banking reform is almost here. What happens next? (Updated)

June 02, 2022 15:08 - 28 minutes - 25.8 MB

Congress is expected to pass the SAFE Banking Act by year-end in one way or another. Bankers can learn a thing or two from others who have already taken the plunge.

Ep. 55: Should banks be more worried about World War III or Cold War II?

May 19, 2022 01:30 - 21 minutes - 20.1 MB

Russia’s invasion of Ukraine has isolated the nuclear power from much of the Western economy, worsening already fraught global supply chains and increasing uncertainty. But it can still get worse.

Ep. 54: The revolution will not be centralized

May 05, 2022 01:30 - 37 minutes - 51.9 MB

Decentralized finance, or DeFi, could revolutionize the way money works, how it is controlled and how its power is distributed. But is DeFi the future or hype?

Ep. 53: Banks’ battle against IRS reporting isn’t over

December 16, 2021 02:30 - 31 minutes - 29.3 MB

The banking industry has been working to beat back a proposal that would require banks to disclose certain customer account information to the Internal Revenue Service. But even if they succeed, the problem of unreported taxable income isn't going away.

Ep. 52: What will it take to get banks back into remittances?

December 02, 2021 02:30 - 26 minutes - 24.2 MB

Immigrants transfer billions overseas every year, and that market is dominated by nonbanks, crypto and fintechs. Those services could help banks get more customers in the door, but it’s easier said than done.

Ep. 51: Have fintechs cracked the financial inclusion code?

November 18, 2021 02:30 - 40 minutes - 37.5 MB

Many fintech companies are offering quality, low-cost services to people who are left out of mainstream banking. But low-income consumers face barriers that technology alone can't solve. Featuring: Jennifer Tescher, President and CEO, Financial Health Network Joseph Bayen, Founder and CEO, GrowCredit Kathryn Petralia, co-founder, Kabbage Jelena McWilliams, Chairman, Federal Deposit Insurance Corp. Dan Henry, CEO, Green Dot Terri Friedline,Associate Professor of Social Work, Uni...

Ep. 50: Will there ever be a Basel V?

November 04, 2021 01:30 - 24 minutes - 33.8 MB

The Basel III reforms initiated after 2008 and the hard-fought Basel IV provisions completed in 2017 made banks more resilient. International consensus on new challenges like climate change and cybersecurity could be impossible.

Ep. 49: Banks’ forever war against cyberattacks

October 07, 2021 01:30 - 31 minutes - 43.1 MB

Hackers are targeting banks more frequently and more effectively. There’s not much the industry or government can do about it. Featuring: Paul Benda, SVP of Operational Risk and Cybersecurity, American Bankers Association Mark Stamford, CEO, Occamsec Nathan Taylor, Partner, Morrison & Foerster Brian Vecci, Field CTO, Varonis Chris Wolfe, Managing Director, Head of North American Banks, Fitch Ratings

Ep. 48: Can cryptocurrency become mainstream?

September 09, 2021 01:30 - 33 minutes - 30.7 MB

Digital currencies are exploding in popularity but are still a long way from being integrated into the financial system. Featuring: Marc Hochstein, executive editor, Coindesk Greg Baer, President and CEO, Bank Policy Institute Karen Petrou, managing partner, Federal Financial Analytics Jo Ann Barefoot, founder and CEO, Alliance for Innovative Regulation Peter Dugas, executive director, Capco Thomas Hoenig, distinguished senior fellow, Mercatus Center at George Mason Univ...

Ep. 47: It's getting harder to keep the Fed out of politics

August 26, 2021 01:30 - 33 minutes - 31 MB

Institutional independence is a big part of what makes the Federal Reserve work. But quantitative easing, new forays into climate and digital currency and a blurring of the line between monetary and fiscal policy might make that independence harder to maintain.

Ep. 46: Unchartered territory: How Indigenous communities are banking themselves

July 15, 2021 01:30 - 45 minutes - 62.2 MB

Indigenous reservations have some of the highest concentrations of unbanked Americans in the country. But tribes are finding ways to get things done — with or without banks.

Ep. 45: What will it take for open banking to take hold in the U.S.?

July 01, 2021 01:30 - 25 minutes - 35.5 MB

Europe has encouraged adoption with rules that put consumers in control of the way their data is shared among banks, fintechs and third-party vendors. Whether the U.S. can make similar progress without its own rules is unclear.

Ep. 44: Regulators want to stress-test banks for climate risks. Can it work?

May 13, 2021 01:30 - 26 minutes - 36.4 MB

Regulators around the world are exploring how to assess banks' exposures to climate change risks. But they'll have to tackle legal, economic and modeling problems that don’t have obvious solutions.

Ep. 43: Hitting the brakes on subprime auto lending

April 29, 2021 01:30 - 26 minutes - 24.5 MB

Looming defaults and the potential for heavier regulatory scrutiny have prompted banks to pull back from the sector. Is that a good thing?

Ep. 42: The long and the short of market manipulation

April 15, 2021 01:30 - 34 minutes - 31.2 MB

Retail investors revolted against institutional investors by buying heavily shorted stocks in January, reanimating regulatory concerns about short selling and market manipulation. But is shorting a check on speculation, or a driver of it?

Ep. 41: Rightsizing the Fed’s emergency lending powers

April 01, 2021 01:00 - 33 minutes - 30.8 MB

The Federal Reserve has the authority to lend to nonbanks in an emergency, and it isn't afraid to use it. But is that authority too broad — or too narrow?

Access Denied episode 5: The financial media

December 31, 2020 14:00 - 36 minutes - 50.9 MB

Like in the industries its reporters cover, the lack of Black representation in business and financial media has created blind spots. Predominantly white newsrooms often miss stories about systemic racism or fail to reach an audience of more than one demographic. In the wake of this summer's Black Lives Matter protests, there are serious implications for financial services, the reporters covering them — and an emerging group of professionals creating their own media. What can journalists lik...

Access Denied episode 4: Allocation and exacerbation

December 10, 2020 14:00 - 40 minutes - 55.5 MB

Asset and capital allocations often exacerbate systemic racism across the financial services in some surprising ways. Innovators in the fields of asset management, banking, impact investing and pensions suggest there are also many ways to disrupt the cycle. Shifting the flow of capital could help reduce or eliminate institutional barriers and racial discrimination.

Ep. 40: What to expect when you’re expecting divided government

December 03, 2020 02:30 - 32 minutes - 29.9 MB

President-elect Joe Biden will likely have to contend with a Republican-controlled Senate. That could have important implications for his approach to financial services policy.

Access Denied episode 3: Representation

November 26, 2020 14:00 - 47 minutes - 65.5 MB

The lack of Black representation in the financial services stems from two interconnected problems. Black professionals face significant hurdles once they break into the industry. And the presence of nearly 175,000 Black financial professionals displays that their widespread absence at the upper executive ranks isn’t a product of there being an insufficient talent pool.

Ep. 39: Why is it so hard for a fintech to become a bank?

November 19, 2020 02:30 - 30 minutes - 28 MB

The success of some fintechs in getting bank charters this year only underscores how onerous the process remains for many others. That’s unlikely to change unless policymakers reconsider what it means to be a bank.

Access Denied episode 2: Underserved or ignored?

November 12, 2020 14:00 - 36 minutes - 49.7 MB

Racism at the branch and in the workplace makes it harder for Black Americans to gain access to financial services. In the second episode of the Access Denied podcast, innovators and researchers from the fields of human resources, banking and wealth management explain how industries leave people out — and what needs to be done to change it.

Episodes