The OCC’s Michael Hsu on the Big Risks Facing Banking Businesses Right Now

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 9 November 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Earlier this year, we saw the collapse of Silicon Valley Bank and Silvergate Bank following a run on deposits and big losses on their portfolios of bonds. Since then, regulators have been discussing changes to existing bank regulation, prompting existential questions about the future of the US lending landscape. But there are other risks lurking in the banking system too — including those created by new technology and changing business models. In this episode, recorded live at Money 20/20 in Las Vegas, we speak with Michael Hsu, the acting comptroller of the Office of the Comptroller of the Currency. He talks about banking regulation, crypto contagion, the rise of banking-as-a-service (BaaS) and the supply chain of payments.

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0:24.6	dot com to get context. Hello and welcome to another episode of the Odd Thoughts Podcast I'm Joe Wiesenthaw. So Joe Wiesenthaw. So Joe we've had a busy few months.
0:49.0	Yeah, we really did. We were all over. We crisscrossed the country, we did all three coast,
0:55.5	East coast, California, the third coast, Texas. We went to California twice in about three weeks, I think, think and but we have a nice little
1:04.8	break now. Yes I for one am grateful to not be living out of a suitcase for a while but
1:11.6	our last stop in the whirlwind America tour was in Las Vegas.
1:17.2	Oh that was so fun I loved going to Vegas I really loved your I love Vegas it was so cool that I got the opportunity to join you in Las Vegas.
1:25.3	Okay, listeners. This is where we're going to get into a little bit of an argument because
1:29.7	You're going to hear Ovelot's co-host airs some dirty laundry.
1:33.2	The day before, no, the day he was supposed to actually fly out to Las Vegas,
1:38.0	Joe changed his mind.
1:40.3	You decided Vegas isn't for you.
1:42.6	So, listeners, I love Vegas.
1:44.6	It's one of my favorite cities in the country.
1:46.7	I like playing poker.
1:47.9	I love the strip.
1:48.8	I love the lights.
1:49.5	I love the water consumption in the desert.
	...

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