S6 Ep3: Banks Gaming the Fed, The Fight Over ILCs Ramps Back Up, and Frequent Flyer Mile Madness

We’ve all barely recovered from the frosty Arctic blast this past week, but that balmy -37-degree Montana weather isn’t slowing down our favorite fintech obsessive one bit. Alex joins banking and fintech editor at Bank Director, Kiah Haslett to discuss the latest and greatest news happening in the banking world.  Kiah and Alex cover the potential challenges banks may face in 2024, including the impact of lower interest rates and the possibility of earnings conditions leading to "zombie banks." How fine are taxpayers with banks making some risk-free money from the Fed’s emergency funding program? And there’s no evidence that industrial loan charters have ever wrecked any part of the banking industry… so why, then, is the Senate banking Chair looking to crack down on tech companies looking to expand into financial services through ILCs? Is this overkill? Kiah and Alex also dive into the US Transportation Department’s scrutiny of frequent flyer programs—why are we treating them like banks? Plus, what does the Fed have too many jobs? And should banks quit trying to make digital wallets happen? Is it ever going to happen?    Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/   And for more exclusive insider content, don’t forget to check out my YouTube page.   Follow Kiah: LinkedIn: https://www.linkedin.com/in/khaslett/ Twitter: https://twitter.com/khaslett   Follow Alex:  YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson