Rule 1071 has to be considered for retraction.
Silliest waste of time and money I've ever seen in our arena.
Close 2nd is the Certification of Beneficial Ownership, just saying.
What irks me the most on 1071 is the lack of any accountability in regards to estimating the cost to banks, AND cost to the CFPB to manage the deluge of data they would be getting.
Terry Anstine, President
Five Points Bank of Hastings
2815 Osborne Dr West
Hastings, NE 68901
(402) 462-2228
NMLS #420297
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Original Message:
Sent: 11/19/2024 9:53:00 AM
From: Corey Langner
Subject: RE: Tuesday Topic: The Next HFSC Chair Will Be …
I would like to see them review the 1071 rule.
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Original Message:
Sent: 11/18/2024 12:21:00 PM
From: Rob Blackwell
Subject: Tuesday Topic: The Next HFSC Chair Will Be …
The GOP officially won the House last week, completing its election sweep. That means, among other things, that leadership of the House Financial Services Committee will be changing. At this point, the race for the next HFSC chair appears to have narrowed to two men: Reps. Andy Barr, R-KY, and French Hill, R-AR. Both are ramping up their campaigns for the post and seeking to align their agendas with President-elect Donald Trump's.
While bankers are largely pleased with the election results, some have told me privately that the GOP under current HFSC Chair Patrick McHenry, R-NC, focused too much on digital assets and crypto instead of helping community banks.
Those in the race make nods to crypto, but appear more focused on banking. Barr wants to dial back regulations, reform the CFPB, and address the housing crisis through market-based approaches. Hill has an explicit proposal to "make community banking great again," including by reversing "the weaponization of the government."
Both candidates joined Banking with Interest earlier this year to discuss how they would approach chairing the HFSC. To familiarize yourself with their agendas, listen to the conversation with Rep. Andy Barr here and the conversation with Rep. French Hill here.
Which priorities would you like to see the next chair of the HFSC pursue?
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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Rob, very interesting topic. Since you brought up SVB in the pod as an example I was wondering if you had any reaction to the WSJ article that named the top depositor list recently. We saw Intrafi listed there and while I know our customer deposits are safe, is there anything in there we should dig into a little? I don't know what question to ask, but am thinking more along the lines of what if a customer asks us about Intrafi after seeing that in the article. Much like a AI model could read that and know someone has deposits somewhere and recommend they be moved. Thanks
-------------------------------------------Original Message:
Sent: 11-05-2024 15:38
From: Rob Blackwell
Subject: [Podcast] How Generative AI Agents Could Threaten Financial Stability
The rise of generative AI agents have promised consumers a better, safer future. But what happens if those agents act in ways that destabilize the system, causing bank runs or better enable bad actors to commit fraud or hack financial institutions? Todd Phillips, assistant professor at Georgia State University's Robinson College of Business, talks about his new paper looking into how AI could wreak havoc on the financial system.
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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