Simply Stated - All Things Finance
83 episodes - English - Latest episode: about 2 months ago - ★★★★ - 7 ratingsJoin us as we discuss the people, policies, and platforms driving financial regulation today. We speak with economists, regulators, industry, and subject matter experts to gain insights into where the nation's financial regulatory system is headed.
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Episodes
#22 - Protecting Paychecks - An Unprecedented Program from Four Perspectives
May 12, 2020 19:07 - 52 minutes - 36.3 MBWhat happens when you put $669 billion of grants and loans into the financial system all at once? An expert talks about how the program is intended to work and changes over time. In a rush against the clock, a small business owner tries to get a loan for herself and for a minority-owned business client. An expert on community banks explains how they fit into the program.
COVID-19 Financial System Update - April 28
April 28, 2020 20:41 - 6 minutes - 4.16 MBCSBS COVID-19 Resource Page: www.csbs.org/information-covid-19-coronavirusShow notes: www.csbs.org/covid-pod9Twenty-six million have applied for unemployment since the start of the COVID-19 Pandemic. We look at state-level data to figure out where the nation has been hardest-hit.Broad consensus now exists among legislators, state regulators and the industry about what needs to happen to help prevent a mortgage financing crisis. Has there been any progress? Is there any reason this can’t happe...
COVID-19 Financial System Update - April 17
April 17, 2020 15:34 - 6 minutes - 4.82 MBCSBS COVID-19 Resource Page: www.csbs.org/information-covid-19-coronavirusShow notes: www.csbs.org/covid-pod8First it was their regulators, then it was the industry themselves, and now it is members of Congress: there’s increasing agreement that something needs to be done to help mortgage servicers while a record number of unemployed are seeking mortgage forbearance. America is now at 22 million unemployment claims in four weeks. We talk about the new jobless claims and how community banks pl...
#21 - COVID-19 and Community Bankers: A Data-Driven Dialogue Between Banker and Regulator
April 13, 2020 00:00 - 17 minutes - 11.7 MBCOVID-19 Consumer Resources Page: https://www.csbs.org/covid-19-consumer-resourcesCOVID-19 Info Page: https://www.csbs.org/information-covid-19-coronavirusYou don’t need me to tell you what the economic data is saying right now. All over the country, businesses are closed, workers are being furloughed or laid off, and businesses and consumers alike are looking at what they have saved and trying to figure out how much longer they can go in lockdown.I want to focus on the local economic aspect ...
COVID-19 Financial System Update - April 9
April 09, 2020 17:13 - 7 minutes - 4.91 MBCSBS COVID-19 Resource Page: https://www.csbs.org/information-covid-19-coronavirusShow notes: https://www.csbs.org/covid-pod7Another week, another concerning round of economic data. We talk about the new jobless claims, what community bankers are seeing on the ground, and how state regulators are working to help bankers and their customers. There’s plenty of new announcements and initiatives ongoing to help mortgage servicers. But will it be enough to keep the industry afloat? And CSBS has pu...
COVID-19 Financial System Update, Consumer Resource Edition - April 3
April 03, 2020 17:46 - 5 minutes - 3.79 MBRead the show notes in full: www.csbs.org/covid-pod5CSBS COVID-19 Consumer Resource Page: https://www.csbs.org/covid-19-consumer-resourcesYou already know about the troubling economic numbers coming out. We break down how this looks from state to state. The results of the Community Bank Sentiment Index arrived today, and the numbers are, as expected, way down. We’ll explain how community bankers provide a perspective job numbers cannot and how the sentiment of community bankers declined each ...
COVID-19 Financial System Update - March 30
March 30, 2020 20:01 - 5 minutes - 4.01 MBFull show notes: www.csbs.org/covid-pod4CSBS COVID-19 Resource Page: www.csbs.org/information-covid-19-coronavirusCalls are growing for the Federal Reserve to provide safeguards for mortgage servicers as the industry is left out of the $2 trillion rescue package. Guidance from state regulators for industries, bankers and consumers continues. Washington State develops guidelines to keep the mortgage and real estate industries operating while enforcing strong health standards. As the $2 Trillio...
COVID-19 Financial System Update - March 27
March 27, 2020 19:03 - 6 minutes - 4.63 MBShownotes: www.csbs.org/covid-pod3CSBS COVID-19 Resource Page: https://www.csbs.org/information-covid-19-coronavirusRegulators alert Congress about an overlooked impact of COVID-19 on mortgage loan servicers. As states work to provide guidance to consumers and institutions, California strikes a major agreement with its banks to help their community. Fed Chair Jerome Powell goes on ABC Morning News. And, CSBS provides state-level data into just how much the unemployment rate has changed so far...
COVID-19 Financial System Update, March 25
March 25, 2020 20:25 - 7 minutes - 4.93 MBFollow all updates on COVID-19 Financial Services here: https://www.csbs.org/information-covid-19-coronavirusRead the shownotes in full here: https://www.csbs.org/covid-pod2Good afternoon, and welcome to the COVID-19 Financial System Update. During the ongoing pandemic, news is happening at a rapid pace. And we at Simply Stated realize that you might miss something important. So we will be sharing the most recent financial stories, regulations, guidance and more surrounding the pandemic. Eac...
COVID-19 Financial System Update, March 23
March 23, 2020 21:16 - 6 minutes - 4.67 MBFollow all updates on COVID-19 Financial Services here: https://www.csbs.org/information-covid-19-coronavirusRead the shownotes in full here: https://www.csbs.org/covid-pod1Good afternoon, and welcome to the COVID-19 Financial System Update. During the ongoing pandemic, news is happening at a rapid pace. And we at Simply Stated realize that you might miss something important. So we will be sharing the most recent financial stories, regulations, guidance and more surrounding the pandemic. Eac...
#20 - What Happened in the Repo Market?
March 19, 2020 09:00 - 25 minutes - 17.8 MBHey folks.A lot is going on right now. As companies go remote, businesses shut down, and we all work on social distancing during the COVID-19 Pandemic, we here at Simply Stated have also gone remote. In the coming weeks, we are completely retooling our programming to focus on the Coronavirus pandemic, steps regulators are taking to strengthen and protect the financial system, and advice for bankers and consumers alike during this time.One big thing you are hearing about in the news right now ...
#19 - Are Consumers Using Mobile Payments? Are they Safe? Are they Protected?
March 05, 2020 10:00 - 21 minutes - 14.7 MBGuest: Rachel Siegel - Senior Associate, Consumer Finance, The Pew Charitable TrustsHost: Matt LongacreTimestamps2:22 - What is a "mobile payment?"4:10 - Are mobile payments companies utilizing the current infrastructure or building their own?6:10 - What are consumers saying about mobile payments?7:36 - Has mobile growth payment slowed?9:11 - What causes some consumers to decide not to use mobile payments?10:26 - Do consumers understand the protections they have when using a mobile payment?11...
Soundbite: What Does "Fintech" Even Mean?
February 27, 2020 10:00 - 6 minutes - 4.66 MBToday, we talk with CSBS Senior Legislative Vice President and Deputy General Counsel Margaret Liu and try to define exactly what everyone means when they call a company a "fintech."
#18 - Revolutionizing the Supervision of Fintechs & Nonbanks
February 20, 2020 10:00 - 21 minutes - 15 MBRight now, in San Francisco, over 800 people have gathered for the 2020 NMLS Conference. The System, initially designed to handle all the work that goes into licensing mortgage loan originators, is now used for all sorts of nonbank financial companies.This conference attracts everyone in the nonbank space. State regulators, federal regulators, licensees, the press... And the meeting serves as a forum to discuss what's new in licensing and compliance. It's all centered around this platform - N...
Simply Soundbite: What's an ILC?
February 13, 2020 10:30 - 11 minutes - 7.61 MBSimply Soundbites is a new mini-series on the Simply Stated Podcast, where the guest of the week explains a complex topic or definition from the news in ten minutes or less.Today we ask Darryle Rude, Chief Examiner at the Utah Department of Financial Institutions, what an Industrial Loan Corporation is(also known as an Industrial Bank or ILC).Editors Note: At 3:28, we discuss a "loophole" for ILCs. From a technical perspective, it is an exemption for ILCs, not a loophole.
#17 - What's Faster than Fast? - Real-Time Payments and FedNow
February 06, 2020 00:00 - 21 minutes - 14.7 MBIn recent years, there’s been a new obsession with something called “Real-Time Payments.” It’s the idea that everything it takes for one person to send money to another could happen instantaneously.Host: Matt Longacre,Guest: Joey Samowitz, Senior Analyst, Policy, Conference of State Bank SupervisorsTimestamps:2:05 - The Journey of a Check in the 20th Century6:05 - How 9/11 Stopped Your Check from Flying Commercial8:33 - How Does Money Move Today?10:34 - What's a Real-Time Gross Settlement Sys...
#16 - FDIC Chairman Jelena McWilliams - Community Banks, Supervision, And the Future
January 21, 2020 10:00 - 48 minutes - 33.4 MBTimestamps:1:39 – Intro2:45 – Why does the Community Bank Research Conference exist?5:11 – Why the FDIC Joined the Research Conference7:06 – What Impact has Research had on Policy for Community Banks?13:41 – How Does the FDIC Build Trust with its Regulated Banks?19:20 – What is a Community Banker’s Biggest Risk Right Now?24:33 – Community Banks and Fintech? Friend or Foe? Adapt or Ignore?26:50 – How do States and the FDIC Collaborate?34:05 – What to Regulators Wish Bankers Understood About T...
#15 - A New Exam System is Coming. How Will it Impact You?
December 12, 2019 13:46 - 32 minutes - 22.3 MBTime Stamps1:55 – What is the Supervision of Non-Banks Like Now?8:45 – What is the State Examination System? What Will the Experience Be Like for Regulators?15:55 – What Will the Experience Be Like for the Industry, and what are some of the coolest features of the system?23:30 – What’s Next? For State Supervision, for NMLS, for SES? What’s the next step in this process?If you work for a financial company that's not a bank, chances are pretty good that you need licenses to operate in the state...
#14 - What Keeps Community Bankers up at Night
November 22, 2019 11:56 - 24 minutes - 16.6 MBCSBS, the FDIC, and the Fed have this annual conference every year about community banks. And we get together these brilliant economist, and statisticians, and we even do a poll! A poll of community banks all across the country. And we look at all the data and research, and it’s pretty informative.But we also learned pretty quickly that we weren’t capturing everything that was going on. Community banks are local, just like these local interviews that I’ve slowly learned to appreciate. So we s...
#13 - Reengineering Nonbank Supervision
November 07, 2019 14:11 - 25 minutes - 17.3 MBAs nonbanks have grown their market footprint, regulators are looking at ways to modernize the regulatory approach to these entities. At CSBS, we refer to these efforts as "reengineering nonbank supervision."
#12 - Margaret Liu - Update on Fintech Regulation
September 26, 2019 14:17 - 25 minutes - 17.6 MBFintech continues to be a hot-button issue for regulators, industry and policymakers. All of us want to know what the future holds, but few of us really know the answers. What we do know is that technology is powering more financial transactions, enabling new business models, and even propelling new regulatory initiatives. So this is a good time to check in with state regulators and get their perspective. And that is the purpose of this version of Simply Stated.
#11 - Taking the Pulse of our Economy Using Community Bank Sentiment
September 19, 2019 19:55 - 24 minutes - 17.1 MBEconomists, investors, policymakers, and reporters use all sorts of different “indicators” as guideposts to assessing the health of the economy. Some are purely informational and numeric, like job growth numbers and changes in GDP. But others are based on feeling, like consumer sentiment. They’re basically asking someone “how’s it going?” and compiling all those feelings into a single indicator.Getting a comprehensive picture across the country can be tough. But, there is one group that is co...
#10 - Greg Gonzales - State Regulations, Partnerships, and Tennessee
September 12, 2019 19:22 - 29 minutes - 20.3 MBWelcome to Simply Stated, a podcast by CSBS, the Conference of State Bank Supervisors. I am Matt Longacre.My guest today is Greg Gonzales. He is commissioner of the Tennessee Department of Financial Institutions. Like many other state regulators, the department oversees banks, credit unions, trust companies, and a variety of nonbanks. Because of this diversity, Greg says, “Our small department touches every community in the state of Tennessee.” And that comes in handy as the department looks ...
#9 - The Battle for Liquidity – Brokered Deposits and Prompt Corrective Action
September 03, 2019 00:00 - 31 minutes - 21.8 MBBanks want your deposits. They want you to deposit your paychecks, they want your employer to deposit their assets with them. They want you to choose to keep your money with them rather than put that money into other places.And there’s all sorts of reasons for that. It means they can issue more loans and grow more quickly. And, importantly for regulators, it helps the bank stay on a stronger financial footing.But deposits aren’t always easy to come by. In a strong economy, banks are competing...
#8 - Joe Face
August 15, 2019 19:34 - 28 minutes - 19.4 MB#8 - Joe Face by Conference of State Bank Supervisors (CSBS)
#7 - Tom Fite - How to Supervise in a World of Cyber Threats
July 11, 2019 20:45 - 14 minutes - 10.1 MBToday we talk to Tom Fite, Director of the Indiana Department of Financial Institutions, about how his agency built out their examination skills in cybersecurity supervision.
#6 - Bill Matthews on Technology
June 26, 2019 18:00 - 32 minutes - 22.4 MBToday we interview Bill Matthews, who leads the nation's licensing system for nonbanks.
#5 - Charlie Clark
June 20, 2019 13:06 - 19 minutes - 13.4 MBWe speak to the Director of Washington Department of Financial Institutions about an initiative to streamline the nonbank licensing process.
#4 - Bret Afdahl
June 11, 2019 18:44 - 26 minutes - 18.3 MBBeing chairman of CSBS is no easy job. You have to lead the design and implementation of a strategic plan...represent state regulators in relationships with their federal counterparts...all while managing the regulatory department in your own state. In other words, not for the mean and mild. This is Simply Stated, a podcast by CSBS, the Conference of State Bank Supervisors.For the year ahead, into the role of chairman steps Bret Afdahl, director of the division of banking in South Dakota. We ...
#3 - Charlotte Corley
May 31, 2019 03:08 - 24 minutes - 16.8 MBCharlotte Corley shares her perspectives on her year as CSBS chair.
#2 - What's a Community Bank Leverage Ratio and Why Does it Matter?
March 22, 2019 14:33 - 22 minutes - 15.4 MB#2 - What's a Community Bank Leverage Ratio and Why Does it Matter? by Conference of State Bank Supervisors (CSBS)
Podcast #1 - States & Fintech
February 26, 2019 18:59 - 26 minutes - 18.2 MBAll across the country, tens of thousands of non-bank financial companies are operating on a daily basis. Debt collection companies, money transmission companies, mortgage, and lending companies are engaging in TRILLIONS of dollars of transactions each year. And, despite the fact that there are now several federal regulatory agencies, states remain steadfast at the forefront of non-bank supervision.But with new technology comes unique obstacles. Many of these non-bank companies, embracing th...