It’s a big news week on the latest episode of the ABA Newsbytes Podcast. Co-hosts Evan Sparks and Shaun Kern discuss the appointment of Jay Powell as Federal Reserve chairman. We also take a look at what Powell’s nomination might mean for reg reform efforts — for example, revisiting midsize bank stress tests, as Shaun and colleague Hugh Carney suggested in an American Banker op-ed last week. Then we dig into the arcana of the Congressional Review Act and its notable use to reverse the CFPB’s arbitration rule.
For this week’s interview, Evan speaks with Jim Reuter, president and CEO of FirstBank Holding Company in Lakewood, Colo. During the interview, Jim discusses the Fed’s faster payments initiative, in which he was involved, and FirstBank’s adoption of Zelle, the new bank-led payment app — through which FirstBank customers are already moving $20 million per month. We also look at what Jim is looking to work on as vice chairman of ABA’s Government Relations Council this year.
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In this episode: