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Why US Banks Are Trying to Turn Themselves Into Super Apps

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Manage episode 494323796 series 1504378
Content provided by Bloomberg. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bloomberg or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Rohit Chopra is a former director of the Consumer Financial Protection Bureau, which was created in the aftermath of the 2008 financial crisis. In this episode, we speak with him about the current status of the CFPB under the Trump administration, and Rohit's experience while working at the bureau, including decisions made by regulators during the collapse of Silicon Valley Bank and others. Rohit frames his experience as one where he was often dealing with the convergence of old-fashioned banking with lightning-fast technological development. In this context, we also talk about stablecoins (which Rohit says aren't really "crypto," per se), why US banks are now trying to turn themselves into "super apps," and the massive growth of "Buy Now, Pay Later" platforms.

Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots

See omnystudio.com/listener for privacy information.

  continue reading

1027 episodes

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iconShare
 
Manage episode 494323796 series 1504378
Content provided by Bloomberg. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bloomberg or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Rohit Chopra is a former director of the Consumer Financial Protection Bureau, which was created in the aftermath of the 2008 financial crisis. In this episode, we speak with him about the current status of the CFPB under the Trump administration, and Rohit's experience while working at the bureau, including decisions made by regulators during the collapse of Silicon Valley Bank and others. Rohit frames his experience as one where he was often dealing with the convergence of old-fashioned banking with lightning-fast technological development. In this context, we also talk about stablecoins (which Rohit says aren't really "crypto," per se), why US banks are now trying to turn themselves into "super apps," and the massive growth of "Buy Now, Pay Later" platforms.

Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots

See omnystudio.com/listener for privacy information.

  continue reading

1027 episodes

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