Jun 12
#FinancialRegulation “cliffs,” such as the one imposed by the #DurbinAmendment, create terrible incentives. Congress should step in and reform the various measures that rely on such imprecise triggers, writes @ToddZywicki, of @GeorgeMasonLaw, in @AmerBanker @BankThink. bit.ly/4uCy4nl
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Jun 12
The coming #MMA fight on the White House lawn is bound to get a lot of attention, but a far more consequential heavyweight fight between #PresidentTrump and former Fed Chair Jerome Powell has been decided, writes Ken Thomas in @AmerBanker @BankThink. bit.ly/3SlyFfs
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Steve Swedberg retweeted
Jun 8
I have a new column posted at American Banker BankThink this morning summarizing my new paper critiquing the use of asset thresholds in financial regulation.
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Jun 8
Applications from Enova International and Opportunity Financial for national #bankcharters present a danger to consumers. The Fed and the OCC should block them, writes Mike Calhoun, of @CRLOnline, in @AmerBanker @BankThink. bit.ly/4xcbB2D
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Jun 3
Joint guidance from the Federal Reserve and Office of the Comptroller of the Currency on managing model risk leaves many concerns about artificial intelligence, and especially #AgenticAI, for #bankers to sort out themselves, writes Lisa Matthews in @AmerBanker @BankThink. bit.ly/49B0vu8
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BankThink The IMF is right about tokenization, but still misses the point americanbanker.com/opinion/t…
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May 19
This is a horrible idea that would never pass the cost-benefit analysis the @WhiteHouse requires as @chasserehwinkel and I wrote @BankThink. Hey OMB show your work!
americanbanker.com/opinion/t…
Scoop: Trump is expected to sign executive orders as soon as this afternoon that would direct banks to collect citizenship information on customers and encourage the Fed to expand access for fintech firms, people familiar with the plans tell me.
@SecScottBessent told @SemaforBen a month ago the former was "in process": semafor.com/article/04/13/20…
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May 19
We are on the cusp of a new era of #banking consolidation. Today, there are four #banks in the U.S. today worth a trillion dollars. In five or six years, there may be seven or eight banks in the trillion-dollar club, writes Ted O’Connor, of Arcesium, in @AmerBanker @BankThink. bit.ly/3RhaZZj
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May 15
Given new government rules on #PaymentProcessing, giants like @BankofAmerica, @Chase, and @WellsFargo would benefit immensely from acquiring proprietary #debitcard networks. Why they haven’t done so already is a mystery, writes Eric Grover in @AmerBanker @BankThink. bit.ly/3PtBs5b
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May 14
Lawmakers are moving toward a compromise that would ban yield payments on #stablecoins, but allow other rewards. The distinction is functionally meaningless, and leaves small banks in danger of losing deposits, writes Kelly Brown, of Ampersand, in American Banker’s BankThink. #CommunityBanks bit.ly/4dHGGng
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Letting economists on the @federalreserve make policy is why home prices rose 50% in five years. Powell and Yellen have yet to answer for this idiocy. @Kathleen_Hays @POTUS
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We need fewer economists on Fed Board. Economists should work on staff, not make policy. @federalreserve
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May 11
#KevinWarsh is a younger version of Jay Powell but with a convincing economist “eminence front.” What Warsh lacks, as did Powell, is an #economics Ph.D., and that, as the post-pandemic inflation surge has shown us, is critical, writes Ken Thomas in @AmerBanker @BankThink. bit.ly/4wFv3F5
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May 8
The revelation that #Mythos, the latest version of Anthropic’s Claude large language model, can unearth unknown vulnerabilities in computer systems and websites is a crisis moment, especially for #CommunityBanks, writes Yinglian Xie, of DataVisor, in @AmerBanker @BankThink. bit.ly/4d0ysXc
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May 5
Mainstream #financialfirms moving into #crypto are rightly skittish about consolidating trading, custody, lending, staking and settlement in one. The crypto industry is, instead, entering a world of “co-opetition,” writes Thomas Chaffee. Of GlobalStake, in @AmerBanker @BankThink. bit.ly/4un8ClY
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May 4
#Banks are scrambling to find their place in the #stablecoin market. Before making major commitments, they need to be sure of the market segment they’re trying to compete in and who their opponents are, writes @BobbyOng, of @CoinGecko, in @AmerBanker @BankThink. bit.ly/4tL3GHy
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Apr 24
A #bank's regulatory posture is no longer fully within its own control. When a critical vendor becomes subject to new supervisory expectations, the bank's risk profile changes, writes Aaron Cheiffetz, of @CDWCorp, in @AmerBanker @BankThink. #RiskManagement bit.ly/4uahbQZ
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Apr 20
The challenge for banks is not whether to adopt #AI but how to do so with discipline, judgment, and a clear understanding of its limits. The history of technology firms overpromising is extensive in the #banking industry, warns @GeneLudwig in @AmerBanker @BankThink. bit.ly/42nxZrC
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