Go behind the scenes of some of the most interesting topics at the intersection of finance, law, and public policy. Hosted by Lee Reiners.
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Join the FinReg conversations with the new Global Custodian podcast series 'There is always a FinReg Angle' and stay up to date on all the latest financial regulation news. Hosted on Acast. See acast.com/privacy for more information.
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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 O ...
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In each episode of Connected With Latham, we discuss ideas, developments, and trends shaping the global economy.
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There’s Always a FinReg angle: Discussing regulatory continuity in an election year and previewing our live show
21:37
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The FinReg experts are back to discuss what happens to ongoing regs in the US and Europe during an election year, along with previewing our upcoming live show in Stockholm on 5 September. Hosted on Acast. See acast.com/privacy for more information.
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Index Funds and Private Equity: How Corporate Power Shapes Markets and Democracy
1:40:03
1:40:03
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John Coates is the John F. Cogan, Jr. Professor of Law and Economics at Harvard Law School and author of “The Problem of Twelve: When a Few Financial Institutions Control Everything.” According to John, a problem of twelve arises when a small number of institutions acquire the means to exert outsized influence over the politics and economy of a nat…
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Episode 84 – Pro Bono: Shabir Kabiri’s Remarkable Journey from Afghanistan to Asylum in the US
34:22
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In this episode of Connected with Latham, we explore the remarkable story of Shabir Kabiri, an Afghan refugee who secured asylum in the United States with the help of a Latham pro bono team. Shabir shares his harrowing journey, his time as a cadet at West Point, and the dangers he faced upon returning home. When Kabul fell to the Taliban in 2021, S…
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Episode 83 – Drug Pricing: How Are Payers Responding to the IRA?
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The US healthcare landscape is undergoing significant changes as the Centers for Medicare & Medicaid Services (CMS) continues to implement the Inflation Reduction Act (IRA). One key stakeholder group affected by the IRA drug price negotiations and Medicare Part D redesign are health insurance companies. In this episode of Connected with Latham, we …
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What the Regional Bank Failures of 2023 Reveal About Ending Too Big to Fail
1:21:57
1:21:57
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Art Wilmarth, Professor Emeritus of Law at the George Washington University Law School, reflects on the regional banking crisis of spring 2023 and how decisions made by regulators to resolve Silicon Valley Bank, Signature Bank, First Republic Bank, and Credit Suisse reveal that we have still not solved the Too Big to Fail problem. Lee’s X: @leerein…
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Eric Spitler, former Director of the Office of Legislative Affairs at the FDIC, discusses his paper on the history of bank runs and how he would reform deposit insurance to address the weaknesses revealed by last spring’s regional banking crisis. Lee’s X: @leereiners Related Links: Yelling 'Fire' in the Financial Theater: Bank Runs in the Social Me…
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Inside the CFPB’s Sprint to the Finish Line
49:36
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Alex Johnson, founder of Fintech Takes, discusses the CFPB’s race to complete as many regulatory initiatives – on earned wage access products, open data, privacy and more – ahead of the November election. And he talks about why banking as a service has turned into a “high-wire act without a safety net” in the wake of the Synapse bankruptcy.…
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Regulating Voluntary Carbon Credits
1:08:29
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Danny Cullenward is a distinguished Senior Fellow with the Kleinman Center for Energy Policy at the University of Pennsylvania. He joined Lee to discuss the current state of voluntary carbon credit markets and efforts in the U.S. and abroad to regulate carbon credits. Lee’s X: @leereiners Related Links: Danny’s website: https://www.ghgpolicy.org/ W…
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French Hill on Crypto Reg, Housing Reform, SVB Lessons & Bank Consolidation
36:29
36:29
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Rep. French Hill, one of the leading candidates to chair the House Financial Services Committee next year, makes his case for the job, discussing how his former role as a bank CEO would help guide his agenda. He talks about why he’s worked so hard on crypto and stablecoin regulation bills, his vision for housing reform, the lessons of SVB, the end …
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There’s Always a FinReg angle: No outage will stop this podcast! Talking operational resilience in light of the worldwide outage and other latest news
29:49
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Hosted on Acast. See acast.com/privacy for more information.
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The Titanic Shift in Banking Policy Ahead
41:50
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Claire Williams, Capitol Hill reporter for American Banker, and Brendan Pedersen, who covers financial services for Punchbowl News, discuss the latest on financial policy. Will Christy Romero Goldsmith be confirmed to lead the FDIC? Is Basel III Endgame dead? How could Sen. J.D. Vance as vice president impact bank policy going forward?…
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A Looming Crisis in CRE? What Bankers Need to Know
44:15
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Phil Mobley, national director of office analytics for CoStar, the leading firm when it comes to commercial real estate, talks about how the market has changed in the wake of the pandemic. He discusses the trends right now, where the market is headed, and what risk office CRE poses to banks.By IntraFi
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Sean Vanatta is a lecturer in US Economic and Social History at the University of Glasgow and author of the new book "Plastic Capitalism: Banks, Credit Cards, and the End of Financial Control." Sean sits down with Lee to discuss the history of credit cards in the United States and how this history informs current policy debates, including Capital O…
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Jonah Crane, a partner at Klaros Group and former Treasury Department official, breaks down the recent collapse of fintech company Synapse, which has left thousands of customers without access to their funds. Crane also reflects on the regulatory response and the broader impact Synapse’s failure will have on Banking as a Service. Lee’s X: @leereine…
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Inside a Reg Split on Basel and the Battle for FDIC Control
28:19
28:19
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Pete Schroeder, who covers financial regulation and policy for Reuters, breaks down why federal banking agencies are split on how to finalize new capital rules and explains how policymakers are reacting to a nominee for FDIC chair.By IntraFi
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Episode 82 – Drug Pricing: Takeaways from the New Orleans Pricing and Contracting USA Conference
17:31
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Current developments grabbed much of the spotlight when key industry stakeholders met in New Orleans for the Pricing and Contracting USA Conference. In this episode of Connected With Latham, Washington, D.C. partner Chris Schott and associates Danny Machado and Elisabeth Crusey share their observations from the conference, concluding with four call…
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Episode 81 – Drug Pricing: A Look Behind the Curtain of the New ASP Reporting Website and Other Data Collection Portals
23:35
23:35
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The Centers for Medicare and Medicaid Services (CMS) recently updated its portal for Average Sales Price (ASP) reporting under Medicare Part B. Data collection portals are also essential for manufacturer compliance with the Inflation Reduction Act and for price reporting under the Medicaid Drug Rebate Program. The 340B program operates yet another …
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Catch Check Fraud If You Can: The Growing Issue for Banks, Consumers
40:22
40:22
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Frank Abagnale Jr., an expert on check forgery and the subject and inspiration for Steven Spielberg’s film “Catch Me If You Can,” talks about why check fraud is so much worse in recent years despite the overall decline of use of checks. He talks about why banks are struggling to detect forgeries, how policymakers should address the issue, and why t…
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Episode 80 – Energy & Infrastructure: Why is Energy Tech So Attractive to Venture Capital?
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As the energy tech sector continues to mature, venture capital offers an increasingly a viable path to growth as emerging energy tech companies seek to disrupt the energy space, often following a fundraising and growth trajectory similar to software and AI. Energy tech provides opportunities for financial institutions and strategic partners to inve…
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Penny Crosman, executive editor of technology at American Banker, goes behind the scenes on a case of Zelle fraud that cost a consumer thousands of dollars—and what it means for a coming policy fight between the big banks and Washington over the real-time payment system.By IntraFi
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The Massive Impacts of a Whirlwind Week for Banking Policy
30:17
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Andrew Ackerman, a financial services reporter for the Wall Street Journal, discusses what happens next after FDIC Chair Martin Gruenberg’s surprise announcement that he will resign upon confirmation of a successor. Ackerman also details how regulators plan to dial back the Basel III Endgame proposal, and talks about the CFPB’s future after the Sup…
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"A Political Thunderdome": The High Stakes for FDIC at Two Hill Hearings
43:18
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Brendan Pedersen, the financial services reporter for Punchbowl News, discusses the critical importance of upcoming hearings to the future of the FDIC and disturbing revelations from a recent report looking into the agency’s culture. He also discusses an upcoming House vote on a crypto bill and the latest on financial privacy and stablecoin legisla…
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Rep. Lucas on HFSC Chair Bid, Bank Consolidation, Fed Independence
42:49
42:49
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Rep. Frank Lucas, the longest serving Republican on the House Financial Services Committee, makes his case for why he should be the next chair, offering his views on community bank consolidation, whether the Fed should be independent, the dangers of quantum computing and how history informs his view of government agencies and programs.…
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Could a Stablecoin Bill “Shatter” the Wall Between Banking and Commerce?
43:11
43:11
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Hilary Allen, a law professor at American University Washington College of Law, warns that a stablecoin regulation bill could open the door to mixing banking and commerce, allowing WalMart, Amazon or Google to effectively set up their own bank without facing bank-like regulations. She also details issues with the legislation introduced to date, inc…
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John Heltman and Claire Williams, two journalists with American Banker, discuss the outlet’s recent series on populism and how it impacts banks. They tackle why the banking industry is so often the target of populist politicians from both the left and the right, how populism is changing the debate on various bank policy debates now, and what comes …
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Klein vs. Calabria Round 2: How to Solve the Housing Crisis
36:44
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Aaron 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 dig…
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Episode 79 – Pro Bono: Rewilding the Scottish Highlands Through Forest Restoration
16:03
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Latham’s recently released 2023 Pro Bono Annual Review highlights our public service initiatives around the world, including our ongoing relationship with Trees for Life. This conservation charity is dedicated to rewilding the Scottish Highlands through the restoration of the Caledonian Forest, which supports wildlife found nowhere else in Britain.…
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Calabria vs. Klein Round 1: Bank Rescues, Fed Playing Politics, Liquidity Fixes
40:07
40:07
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40:07
Mark 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.…
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There’s Always a FinReg angle: Settlement cycle decisions and concerns under the microscope
37:20
37:20
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The FinReg experts are back to discuss settlement cycle reduction in depth, from the impending US move – and the most pressing matters in the build up – to the UK eyeing its own move and recent updates from Europe. A sprinkling of operational resilience, ESG and crypto are also added in for good measure. Hosted on Acast. See acast.com/privacy for m…
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Steele on What’s Needed After SVB, Biggest Threat to Banks, M&A Policy
47:31
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Graham 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, …
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Prometheum is the one firm that other crypto firms love to hate. This is because the firm’s founders and co-CEOs, brothers Aaron and Ben Kaplan, have consistently and publicly argued that most cryptocurrencies are investment contracts subject to SEC registration requirements. In this episode, Aaron Kaplan joins Lee to discuss the process Prometheum…
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How SVB’s Collapse Changed Bank Policy for Good
32:06
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One 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.…
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Whip Emmer on CBDCs, “Junk” Fees, Crypto and Community Banks
38:16
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House 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 cry…
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Episode 78 – UK FinReg Focus Areas in 2024: ESG
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Following an array of ESG-focused regulation and escalating concerns of greenwashing risks in 2023, the year ahead looks to deliver significant industry developments at a rapid pace. In the UK, the FCA's Sustainability Disclosure Requirements (SDR), investment labelling regime, and anti-greenwashing rule will take effect during 2024. The FCA also p…
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“The Most Contentious Fight in Washington Right Now”
35:45
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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.By IntraFi
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Episode 77 – UK FinReg Focus Areas in 2024: Enforcement Against Individuals
8:23
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In 2023, the FCA brought more charges for fraud offences against individuals than any other year in the regulator’s history, and secured several convictions related to fraudulent investment schemes. Yet while the FCA has signaled that economic crime is on its radar, recent years have been defined by relative inactivity, as the higher burden of proo…
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Episode 76 – UK FinReg Focus Areas in 2024: Regulatory Divergence
17:49
17:49
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The UK’s announcement of the Edinburgh Reforms in 2022 made clear the government’s intention to chart its own course in rulemaking for the UK financial services sector, and no longer prioritise equivalence with EU legislation. The UK is currently in the process of repealing and restating all retained EU legislation, which will result in divergence …
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How Banks Can Win the Battle for Deposits
34:18
34:18
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Neil Stanley, CEO of the CorePoint, offers strategies and products banks can use to attract and retain deposits in a highly competitive deposit environment.By IntraFi
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Episode 75 – UK FinReg Focus Areas in 2024: Enforcement Against Firms
13:24
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Two new Joint Executive Directors of Enforcement and Market Oversight appointed by the FCA in 2023 will settle into their roles over the year ahead. Following a period of enforcement defined by increased investigations and a willingness to push the envelope of legal interpretation, firms will look toward the coming year to resolve which areas of fo…
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Esther George on Interest Rate Cuts, CRE, Bank Failures, and Everything in Between
47:53
47:53
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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.…
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Episode 74 – UK FinReg Focus Areas in 2024: Conduct and Culture
13:19
13:19
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With the UK financial services regulators due to publish Policy Statements to their consultations on diversity and inclusion (D&I) this year, conduct and culture remain high on the regulators’ agenda and connect closely to their other regulatory priorities. The regulators have proposed new D&I reporting and disclosure requirements for larger financ…
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Are We Headed for Another Regional Bank Crisis?
23:57
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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 whethe…
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Episode 73 – UK FinReg Focus Areas in 2024: Artificial Intelligence
13:54
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The coming year looks poised to act as a pivotal junction for the UK financial services regulators in deciding how to approach the regulation of artificial intelligence (AI), as the financial services industry sees the continued expansion of AI-related capabilities and use cases. To avoid stifling innovation, the UK government plans to take an “agi…
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Why the War Over "Junk" Fees Has Heated Up
25:03
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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.By IntraFi
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Episode 72 – UK FinReg Focus Areas in 2024: The Edinburgh Reforms
10:18
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Since the announcement of the Edinburgh Reforms in 2022, the UK government has made progress on an assortment of measures spanning financial services regulation, with more developments expected in 2024. Though tabled initially as an ambitious suite of reforms, many of the proposals have not been particularly radical in reality. A recent Treasury Co…
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Episode 71 – Drug Pricing: A Look Ahead at Trends for 2024
11:48
11:48
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The pressure and uncertainty of 2023 will likely continue for drug manufacturers in 2024, with the election cycle bringing added scrutiny. At the federal level, continuing implementation of the Inflation Reduction Act, including publication of the so-called negotiated prices, may be disruptive. The states, meanwhile, will likely move forward with t…
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Episode 70 – UK FinReg Focus Areas in 2024: Investment Research
17:14
17:14
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The UK’s decision to scrap compulsory research unbundling, following the final recommendations of the Investment Research Review, marked one of the most striking developments for financial services firms in 2023. Permitting rebundling across the board with no market capitalisation threshold comes as part of a wider approach to reinvigorate UK capit…
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There’s Always a FinReg angle: The Bitcoin ETF approval - “Please stop talking about this sh**”
22:40
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The FinReg experts are back for a new season, and what better way to kick things off than discussing the culmination of a theme that ran through our first four seasons – the Bitcoin ETF – and to quote Jamie Dimon at Davos, our FinReg experts are fully ready to “stop talking about this sh**”. Hosted on Acast. See acast.com/privacy for more informati…
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Bank M&A was “miserable” in 2023. Will this year be even worse?
19:10
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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.By IntraFi
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Episode 69 – UK FinReg Focus Areas in 2024: Retail Markets – Direction of Travel
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As part of the FCA’s continued focus on retail markets, updates to several key regimes are due to progress over the next year. In addition to further implementation of the FCA’s Consumer Duty, the government plans to present detailed proposals on modernising the consumer credit regime, develop proposals to address the “advice gap”, and bring in a n…
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