Banking with Interest

Craig Scheef, the founder, chairman and CEO of Texas Security Bank in Dallas, talks about his bank’s unique approach to small business lending, how the institution successfully doubled its asset size thanks to the PPP program, and why he believes policymakers underestimate the value of a free enterprise system.

Richard Hunt, the head of the Consumer Bankers Association, talks about the impact of a recent Supreme Court decision that said the CFPB’s leadership structure was unconstitutional, and why he fears it will inhibit banks from offering small-dollar loans. He also discusses the OCC’s final CRA reform rule, why there’s a coin shortage in the U.S. and the future of banking and branches after COVID-19.

The crisis has forced customers to change how they bank—and that’s creating opportunities for banks ready to seize them, according to Elizabeth Wolverton, the chief strategy and customer experience officer at Synovus Bank in Columbus, Georgia. Liz also discusses why inclusion and diversity are so important to the industry’s future.

Acting Comptroller Brian Brooks talks about a new project aimed at helping with economic inclusion and the role of banks in combating economic inequality. He also discusses his plans for a federal charter for payment companies and explains why he warned mayors around the country about possible credit problems at banks if small businesses are not allowed to reopen and responds to criticism of the recently-finalized Community Reinvestment Act reform rule.

John Dugan, the chairman of Citigroup’s board of directors, says the future of banking turns on the industry’s pandemic performance. It will affect how regulators oversee them, how shareholders invest, and how the public feels about banks. The former Comptroller of the Currency doesn’t underestimate the challenges, but he is optimistic that banking will emerge from this crisis with its reputation enhanced.