The dust has largely cleared from the collapses of Silicon Valley Bank (SVB), Signature and First Republic, but the policy implications still loom large. Stricter requirements for capital levels, stress testing and resolution planning are in the works, and the FDIC has suggested some changes to the deposit insurance system. On the plus side for bankers, regulators could be softening their stance on M&A. The changes from the prudential regulators are happening even as the CFPB finalized its small-business reporting rule and has a pending proposal to limit credit card late fees to $8. To understand where things may go from here, I recently sat down with Lindsey Johnson, President and CEO of the Consumer Bankers Association, for an episode of Banking with Interest. In addition to lingering policy questions, we tackled the role of short sellers in the downfalls of SVB and First Republic, how social media is changing banking and whether the recent turmoil is behind us. What follows is our conversation, edited for length and clarity. CONSUMER BANKERS ASSOCIATION’S LINDSEY JOHNSON ON THE CAUSES AND AFTERMATH OF RECENT BANK FAILURES By Rob Blackwell Chief Content Officer, IntraFi, ICBC Associate Member 30 | INDEPENDENT REPORT
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