Podcasts about OCC

Ross Bolen and Barrett Dudley discuss and review “Widow's Bay” episodes 1-8 on Apple TV. Subscribe on Patreon.com/OystersClamsCockles for hundreds of exclusive ad-free episodes. Support Our Sponsors: FactorMeals.com/occ50off code “occ50off” for 50% OFF and FREE daily greens per box Hims.com/OCC to get a personalized, affordable weight loss plan that gets you Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Andrew Olmem, managing partner of Mayer Brown's Washington office and a former deputy director of the National Economic Council, talks about how the second Trump administration has moved much faster than the first to reshape financial regulation. He discusses why he believes bank supervision became too bureaucratic and too focused on process, how the administration is approaching capital and the Fed, and what stablecoins, the Clarity Act and OCC preemption could mean for the future of the regulatory system.

Ross Bolen and Barrett Dudley discuss and review the series finale of “Euphoria” on HBO. Subscribe on Patreon.com/OystersClamsCockles for hundreds of exclusive ad-free episodes. Support Our Sponsors: Lucy.co/OCC code “OCC” for 20% OFF your first order ShopRemi.com/OCC code “OCC” for 50% OFF your new night guard Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Dani and EmKay sit down with Petter Engdahl to chat about his recent switch from a UTMB focus to OCC. Petter has had success at both short and long trail distances, showing his incredible versatility in a sport with so many different paths. We hope you enjoy his perspective as much as we did. @petter_engdahl-----

Crypto News: DTCC and the Stellar Development Foundation announced today plans to enable the tokenization of DTC‑custodied assets on the Stellar XLM blockchain. Wall Street gets new crypto rival after Texas bank completes regulatory pivot. Italian bank Banca Sella gets official approval to become the first bank in the country to offer Bitcoin and crypto custody services. Brought to you by

This week, Corinne Malcolm is joined by one of the most exciting short-course racers on the circuit, Dani Moreno. Podiums at OCC, USATF trail national championships at the 50K and half-marathon, Broken Arrow and UTMB Major wins, Dani's also dealt with catastrophic injuries and setbacks.They talk about:The path from collegiate running to outdoor guiding to professional trail racing — and the feeling of being "lost" after collegeHow stepping away from structured performance helped Dani reconnect with joyDealing with injuries and setbacks in the processAnd why the current generation of women in trail racing are showing everyone that it's cool to careCheck out Dani and EmKay Sullivan's SubHub podcast for all things sub-ultra mountain and trail running.Follow Us:Join Feisty at the Grand Traverse in Duluth, MN on October 3rd! Use code FEISTY20 for $20 off when you register at https://feisty.co/events/the-grand-traverse/@feisty_media@trail.societySupport our Partners:Injinji: use code  Trailrun15 to get 15% off at https://www.injinji.com/Good Ranchers: Subscribe and get $25 off your first order with the code IRON at goodranchers.com rabbit: Visit https://www.runinrabbit.com/ use code: SPRINGTRAIL10 for 10% off.

Ross Bolen and Barrett Dudley discuss and review season 3, episode 7 of “Euphoria” on HBO. Subscribe on Patreon.com/OystersClamsCockles for hundreds of exclusive ad-free episodes. Support Our Sponsors: Leesa.com code “OCC” for 30% OFF select mattresses PLUS an extra $50 off  Quince.com/OCC to refresh your wardrobe with FREE shipping and 365-day returns ShopRemi.com/OCC code “OCC” for 50% OFF your new night guard Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Alex Thorn talks with Nathan McCauley, CEO of Anchorage, about Anchorage winning crypto's first national bank charter and how they spent years fighting the very regulator that granted it. Now the OCC lane is reopening, competitors are piling in, and CEO Nathan McCauley explains what it means for crypto's next phase. Alex also speaks with Beimnet Abebe (Galaxy Trading) about markets. Participants, along with Galaxy Digital, hold a financial interest in Anchorage Digital and Bitcoin (BTC). Galaxy regularly engages in buying and selling BTC, including hedging transactions, for its own proprietary accounts and on behalf of its counterparties. Galaxy also provides services to vehicles that invest in BTC.  If the value of such assets increases, those vehicles may benefit, and Galaxy's service fees may increase accordingly. The valuation in this communication is based on technical, fundamental, and market analysis and not on any formal valuation method. For more information, please refer to Galaxy's public filings and statements. Cryptocurrencies, including BTC, are inherently volatile and risky and ultimate market movements may not align with this statement. For additional risks related to digital assets, please refer to the risk factors contained in filings Galaxy Digital Inc. makes with the Securities and Exchange Commission (the “SEC”) from time to time, including its Quarterly Report on Form 10-Q, available at www.sec.gov. This episode was recorded on Wednesday, May 6, 2026. ++ Follow us on Twitter, @glxyresearch, and read our research at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.galaxy.com/research/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.galaxy.com/disclaimer-galaxy-brains-podcast/⁠⁠⁠⁠⁠⁠⁠⁠

Most fintechs treat cross border payments as a cost centre. George Davis built a business that treats it as the $100B infrastructure opportunity nobody else is rebuilding, and grew 55X in 12 months doing it.In this episode I speak with George Davis, Co-Founder and CEO of Lorum, a global clearing and settlement infrastructure business serving financial institutions across the Middle East, Europe, Asia, and beyond. George is a serial founder who previously co-founded BVNK before leaving to rebuild the layer of the payments stack that big banks have left untouched.Key takeaways:The payment system isn't broken; banks running it are wrongly incentivisedWhy stablecoins add friction to cross border payments rather than removing themHow mid market fintechs can access wholesale treasury rates and turn FX into a profit centreWhat access to clearing infrastructure actually means for remittance, payroll, and import-export businessesWhy Lorum 55X'd in 12 months by going after the bottom of the payments stackGeorge also shares the founder mindset behind Lorum's growth: first principles thinking, radical adaptability, and hiring for obsession over experience.

This bonus episode of Public Keys was recorded live at Consensus. Host Jennifer Sanasie sits down with three guests at the center of crypto in the public markets. Grayscale's Krista Lynch breaks down how crypto ETFs have evolved from simple bitcoin access into index products, in-kind creation for crypto whales, and early staking. Morgan Stanley's Amy Oldenburg explains how MSBT became the firm's most successful ETF launch ever — $230 million in three and a half weeks at 14 bps — while the firm simultaneously rolls out spot crypto trading across its $7 trillion wealth platform. And BitGo CEO Mike Belshe joins four months into his IPO to discuss the firm's OCC charter and why the Clarity Act matters more as a legislative stamp of approval than anything it changes on day one. - Timecodes: 00:00 Welcome to Public Keys: A Bonus Episode from Consensus 00:55 Grayscale's Krista Lynch Joins Public Keys 01:30 Eight Single-Token ETFs and the Rise of Crypto Indexing 02:20 In-Kind ETF Creation Brings Crypto Whales to Wall Street 04:00 Why Crypto Whales Want ETF Exposure 06:00 Advisor Education and the State of Crypto Onboarding 07:00 Staking Comes to the ETF Wrapper 08:30 Morgan Stanley's Amy Oldenburg Joins Public Keys 09:00 The 50 bps Spot Crypto Trading Fee 10:00 Top-of-House Alignment at Morgan Stanley 11:00 What Was Happening Behind the Scenes in 2024 12:30 MSBT: $230M and Morgan Stanley's Most Successful ETF Launch Ever 14:00 Over-Hyped or Underrated: $1B in MSBT by Year-End 16:00 BitGo CEO Mike Belshe Joins Public Keys 17:00 Four Months Into Life as a Public Company 17:30 The Institutionalization of Crypto Infrastructure 18:30 Why the Genius and Clarity Acts Matter 20:30 Coinbase Still Charges Retail 130 bps 22:30 BitGo's OCC Charter and the Future of Reserve Banking 23:30 What the Clarity Act Actually Changes 24:30 TradFi Is Waiting for the Legislative Stamp of Approval - This episode was hosted by Jennifer Sanasie.

Trump just signed his biggest crypto executive order yet, giving the Fed 120 days to evaluate opening payment rails to Coinbase, Kraken, Circle, Ripple, and Anchorage. The move could break the bank monopoly on Fed plumbing right as Bitcoin sits at $76K after $1B in ETF outflows and $660M in liquidations. Add Warren's attack on OCC crypto charters, JPMorgan saying Bitcoin ETFs are recovering 2X faster than Ethereum, Goldman dumping XRP and Solana for Hyperliquid, and the SEC readying tokenized stocks, and you have one of the most pivotal weeks of the cycle. Is this the bottom, or the setup for Bitcoin's next leg higher? Learn more about your ad choices. Visit megaphone.fm/adchoices

Richard Hunt, executive chairman of the Electronic Payments Coalition, discusses the expanding fight over interchange and why the battle is no longer centered only in Washington. He explains what is happening in states like Illinois and Colorado, why the OCC stepped in, and what could happen next in the courts and legislatures.

The options tape is noisy. Intraday volatility cycles, 0DTE reflexes, ETF-driven options growth, and increasingly granular expiration schedules are reshaping how liquidity forms, migrates, and occasionally disappears. This session examines where activity is truly concentrating across index and single-stock products, including the continued expansion of daily expirations into select equities, and how that evolution is influencing spreads, hedging behavior, market-maker capacity, and risk transfer. Panelists will explore how product design is steering flow through defined outcome ETFs, single-stock ETFs, cash-settled index expansion, and targeted daily expirations and discuss what these structural shifts imply for market stability, education, and liquidity quality over the next 12–24 months. Moderator: Henry Schwartz, Vice President, Market Intelligence, Cboe Global Markets Panelists: Annabelle Baldwin, Chief Revenue Officer, SpiderRock Shelly Brown, Executive Vice President, Chief Strategy Officer, MIAX Geralyn Endo, Head of Options Business Development, MEMX This panel is proudly sponsored by OCC.

Ross Bolen and Barrett Dudley discuss and review season 3, episode 6 of “Euphoria” on HBO. Later this week, take on The Wire season 3 with us on Patreon.com/OystersClamsCockles. Support Our Sponsors: Lucy.co/OCC code “OCC” for 20% OFF your first order NordVPN.com/OCC to get a Huge Discount off your NordVPN Plan + 4 additional months on top! Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

BUY GOLD & SILVER HERE: https://firstnationalbullion.com/schedule-consult/ Avoid CBDCs! HELP SUPPORT US AS WE DOCUMENT HISTORY HERE: https://gogetfunding.com/help-keep-wam-alive/# Josh Sigurdson talks with Mark Gonzales about the new Peter Thiel connected AI powered bank that has received conditional approval by the OCC. The bank which is named "Augustus Bank" after the Roman emperor was started by a 25 year old named Ferdinand Dabitz. The protege of Peter Thiel, a blatant technocrat has launched this bank which will use "stablecoins" in a "decentralized" way to manage transactions, day or night, 7 days a week unlike banks that close. Tyranny comes under the guise of convenience. The bank isn't decentralized as they say as AI and some humans will surveil transactions and decide what does and does not go through under the guise of "stopping money laundering." 8 banks since 2010 have similarly been approved under the same guidelines and Augustus Bank is currently awaiting Fed approval. What's interesting is that regardless of CBDCs (Central Bank Digital Currencies), one can push the populace into digital currencies by private corporations simply out of convenience and public demand. Much like VISA and Mastercard, these tools were not mandated but are nearly unavoidable when shopping in a big city now. It's clear that the digital banking system will work in the same way, regardless of any mandates. This can be extremely dangerous. The entire global banking system is going digital and alongside digital IDs and social credit will be unavoidable. In this video, Mark Gonzales breaks down the lead up to this agenda, how it's being put in place, what it will look like, other major stories that connect to this including the 63 central banks that have adopted Basel 3 bail-in regimes and what can be done about this. Have you prepared yourself outside of the confines of the "reset?" Stay tuned for more from WAM! GET 10% OFF ON SHILAJIT FROM DR. KAUFMAN WHEN YOU USE CODE WAM10 HERE: https://medauthentica.com/discount/WAM10?redirect=/products/authentica-shilajit%3Fsca_ref=10867124.wrNV3jkYSaMg9 GET HEIRLOOM SEEDS & NON GMO SURVIVAL FOOD HERE: https://heavensharvest.com/wam USE Code WAM to save 25% plus free shipping! GET YOUR WAV WATCH HERE: https://buy.wavwatch.com/WAM Use Code WAM to save $100 and purchase amazing healing frequency technology! GET YOUR APRICOT SEEDS at the life-saving Richardson Nutritional Center HERE: https://rncstore.com/r?id=bg8qc1 Use code JOSH to save money! Get Your SUPER-SUPPLIMENTS HERE: https://vni.life/wam Use Code WAM15 & Save 15%! Life changing formulas you can't find anywhere else! Get local, healthy, pasture raised meat delivered to your door here: https://wildpastures.com/promos/save-20-for-life/bonus15?oid=6&affid=321 USE THE LINK & get 20% off for life and $15 off your first box! DITCH YOUR DOCTOR! https://www.livelongerformula.com/wam Get a natural health practitioner and work with Christian Yordanov! Mention WAM and get a FREE masterclass! You will ALSO get a FREE metabolic function assessment! PayPal: ancientwonderstelevision@gmail.com FIND OUR CoinTree page here: https://cointr.ee/joshsigurdson PURCHASE MERECHANDISE HERE: https://world-alternative-media.creator-spring.com/ JOIN US on SubscribeStar here: https://www.subscribestar.com/world-alternative-media For subscriber only content! Pledge here! Just a dollar a month can help us alive! https://www.patreon.com/user?u=2652072&ty=h&u=2652072 BITCOIN ADDRESS: 18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU World Alternative Media 2026

This week, Elliot Berman and John Byrne break down a packed slate of AML and financial crime developments shaping the global landscape. They start in the U.S. with two new FinCEN alerts—one highlighting Iran's use of front companies, digital assets, and complex corporate structures to evade sanctions, and another warning of heightened human trafficking risks tied to the 2026 FIFA World Cup. The conversation expands into broader trafficking concerns From there, they unpack the OCC's latest risk perspective, emphasizing persistent cyber threats, rising fraud sophistication, and mounting pressure on compliance systems amid geopolitical tensions. On Capitol Hill, attention turns to the Clarity Act and its push to build a regulatory framework for cryptocurrencies—alongside mounting concerns from banks and law enforcement about stablecoins, AML enforcement, and investigative visibility. Internationally, they discuss Canada's dramatic increase in AML penalties, AUSTRAC's updated risk outlook and virtual asset focus, Switzerland's proposed AML rule changes, and The EU's push toward a unified anti-corruption strategy.

VLOG May 12 Gallerist Sikkema murder for hire trial https://matthewrussellleeicp.substack.com/p/trial-for-murder-of-gallerist-sikkema Weinstein endgame https://matthewrussellleeicp.substack.com/p/harveys-last-stand-in-weinstein-retrial 111 Centre "wacky" kidnapping trial https://innercitypress.com/nyscourt80paekbaezicp051126.html OCC cuts public notice https://innercitypress.com/occ3cutsoutpublicffw051226.html UNSG colonial in Kenya, @USUN nada

Crypto regulation in Q1 2026 reshaped the stablecoin and digital asset markets with the OCC's 376-page Genius Act proposed rule, the SEC's five-category crypto asset classification, and new AML data from FATF and Chainalysis. Tedd Huff, CEO of fintech advisory firm Voalyre and founder of Fintech Confidential, breaks it all down with Robert Musiala, Partner at Baker Hostetler and co-lead of their Web3 practice.The OCC introduced the PPSI framework that every future stablecoin issuer must follow, while at least 15 crypto-native companies raced to file trust charter applications. The SEC named 18 tokens as digital commodities, replaced the "decentralization" test with a central party control standard, and Chairman Atkins previewed up to three safe harbor proposals under a tentative Regulation CA. On the enforcement side, 84% of illicit crypto transactions in 2025 involved stablecoins, the DOJ seized $61 million in USDT, and North Korea expanded state-sponsored theft into remote IT worker schemes targeting US businesses.Find out more1️⃣ Map your Genius Act transition now; the 18-month implementation window is closing fast and companies that filed trust charters in late 2025 are already positioned.2️⃣ Vet every outsourced IT vendor accepting stablecoin payments for shell company ties to state-sponsored actors.3️⃣ Audit your tokens against the SEC's five-bucket test before the safe harbor proposals drop.4️⃣ Stress test your AML program against stablecoin-specific risks like peer-to-peer transfers, multi-hop wallet chains, and shell IT vendor payments flagged by the DOJ and FATF in Q1.5️⃣ Model your Q3 budget with and without yield revenue in case the OCC's related third-party restrictions survive.LINKSGuestRobert MusialaLinkedIn: https://www.linkedin.com/in/robert-musiala/Baker Hostetler: https://www.bakerlaw.com/people/robert-musialaBlockchain Monitor: https://www.blockchainmonitor.com/CompanyBaker HostetlerWebsite: https://www.bakerlaw.com/Web3 & Digital Assets Team: https://www.bakerlaw.com/practices/web3-digital-assetsLegal Resources: https://www.bakerlaw.com/insightsHostTedd Huff: https://www.linkedin.com/in/teddhuff/Linkedin: https://www.linkedin.com/company/fintechconfidentialFintech ConfidentialYoutube: https://youtube.com/@fintechconfidentialPodcast: https://fintechconfidential.com/listenNewsletter: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialX: https://x.com/FTconfidentialInstagram: https://www.instagram.com/fintechconfidentialFacebook: https://www.facebook.com/fintechconfidentialSUPPORTERSDFNS: Wallets as a service, API first, multi-chain, secured with MPC across 50+ blockchains - fintechconfidential.com/dfnsSkyflow: Zero trust data privacy vault for PCI, CCPA, GDPR, SOC 2 compliance - skyflowsecure.comHawk: AI tools for real-time payment screening and fraud prevention - gethawkai.comABOUTRobert Musiala is a Partner at Baker Hostetler where he co-leads the firm's Web3 practice. He authors The Blockchain Monitor, one of the longest-running legal blogs covering crypto regulation, enforcement, and policy developments. His practice spans both traditional financial institutions and crypto-native companies.Baker Hostetler is a national law firm with deep expertise in financial services, securities, and emerging technology law.Tedd Huff is the CEO of fintech advisory firm Voalyre and founder of Fintech Confidential. The show is produced by DD3 Media and brings you the people, tech, and companies that change how you pay and get paid.CHAPTERS00:00 Episode Highlights01:18 Welcome to Fintech Confidential01:27 Dfns: Wallets as a Service (sponsor)02:47 Show Intro And Guests05:30 Genius Act Rulebook07:38 Reserve Rules Explained13:08 Charter Rush Begins18:11 Banks Vs Crypto Score20:49 Deposit Flight And Yield25:58 Wyoming And SoFi Models29:38 SEC Five Bucket Guide32:49 Digital Commodities Line37:35 Munchee Vs Meg Prime39:21 Sky Flow: Building Fast and Secure (sponsor)40:23 Back To Atkins Agenda40:58 Atkins Next Moves43:21 Regulation CA Safe Harbors45:39 Stablecoins And Illicit Use50:25 Freezing Burning Reissuing54:13 Offshore Crackdown FATF56:24 North Korea Crypto Threats59:28 Q2 Watchlist OCC Yield01:05:11 Safe Harbor And CLARITY01:10:33 Advice For Builders Q201:13:20 Wrap Up And Sponsor01:14:08 Hawk AI - Realtime Fraud Monitoring (sponsor)01:14:53 Disclaimer

Ross Bolen and Barrett Dudley discuss and review season 3, episode 5 of “Euphoria” on HBO. Later this week, take on The Wire season 3 with us on Patreon.com/OystersClamsCockles. Support Our Sponsors: Hims.com/OCC to get a personalized, affordable weight loss plan that gets you Ridge.com/OCC for up to 40% OFF during their Father's Day Sale Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

A coalition of six major banking trade organizations is warning that last-minute compromise language in the Senate's long-stalled Clarity Act could still permit crypto firms to offer interest-like rewards on stablecoins. The warning could set up a potentially decisive fight just as lawmakers race against the congressional calendar to advance digital asset legislation.~This episode is sponsored by Tangem~Tangem ➜ https://bit.ly/TangemPBNUse Code: "PBN" for Additional Discounts!Guest: Guest: Adam Minehardt - Chief Policy Officer at HyperliquidFollow on X ➜ https://x.com/adam_minehardt00:00 Intro00:10 Sponsor: Tangem01:00 Odds collapse01:20 ABA Mother's Day PANIC03:00 What happened?04:20 Patrick Witt05:00 Last minute Bank bullshit06:30 Bank interests07:00 Yield compromise09:00 Coinbase Lawyer: Banks outcry will end soon10:00 Is Coinbase being too naive?12:30 Hyperliquid Policy Center15:00 Partisan split17:50 key politicians to watch19:45 Pushback this week?21:00 Time risks23:00 Trump calls out banks?23:30 BTC strategic reserve24:20 SEC/CFTC perps trading25:30 OCC policy fight26:00 Warren amendments26:30 JP Morgan buys out Coinbase28:00 Crypto Skyrockets on Friday?#Crypto #Hyperliquid #Ethereum~Banks in Full-Blown PANIC!

Tom Lee, chair of BitMine Immersion Technologies (NYSE: $BMNR), says a new “crypto spring” has begun. Lee adds that the crypto winter than began last October is finally over and that digital assets should continue running higher in the months ahead. ~This episode is sponsored by BTCC~BTCC 10% Deposit Bonus! ➜ https://bit.ly/PBNBTCC00:00 Intro00:10 Sponsor BTCC00:30 Patrick Witt: July 4… a present for America01:00 Tommorrow02:00  Poll03:45 3 key issues05:00 Crypto spring catalyst06:20 Ethics unresolved07:15 Tom Lee: Buzz Lightyear Rally08:30 Tom Lee: Drop then rally11:00 Jobs numbers: Somethings off?12:00 Xi Trump meeting12:45 Mark Cudmore: Meeting bigger than jobs14:15 Smart money sidelined?15:00 Crypto in an AI world16:15 Fees war16:30 CZ: why fees are falling18:00 OCC response19:50 BTC reserve soon?#Crypto #bitcoin #Ethereum~Crypto Spring Begins as CLARITY Approaches

Amy Ellefson teaches in a classroom most people never see. Inside the Omaha Correctional Center, she works with students enrolled in UNO TRAC. That stands for Transforming, Renewing, Achieving, and Connecting. It's a grant-funded program out of UNO's School of Criminology and Criminal Justice that brings college courses to incarcerated students, with a path to continue their education at UNO once they're released. Amy is a lecturer in the School of Communication with a Ph.D. from the University of Southern Mississippi. Teaching at OCC means no laptops, no staples, no jewelry, no electronics. No index cards either, until the prison's tech offered to make them out of cardstock for her. Amy walks us through the process, then tells the story of Terry, an OCC student whose MAV Talks speech about Nebraska's "life-means-life" law she recorded because he couldn't be there to give it himself. Terry is incarcerated for life. The audience didn't know where the recording came from until it was over.  Amy keeps coming back to a line of her own: "I feel like sometimes I get more than they do." Watch on YouTube, listen on your favorite podcast app, and subscribe to Comm in Ten. 

Ross Bolen and Barrett Dudley discuss and review season 3, episode 4 of “Euphoria” on HBO. Later this week, take on The Wire season 3 with us on Patreon.com/OystersClamsCockles. Support Our Sponsors: FactorMeals.com/occ50off code “occ50off” for 50% OFF and FREE daily greens per box Lucy.co/OCC code “OCC” for 20% OFF your first order Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Crypto News: Bitcoin fakes out bears and pumps to over $80K with the potential to hit $85K this week. BlackRock's European Bitcoin ETP crosses $1.1B in assets under management with ~14,200 BTC accumulated. BlackRock urges OCC to drop tokenized reserve cap idea, expand eligible assets in GENIUS Act comment letter.Brought to you by

Compliance officers are under constant pressure to answer regulatory questions accurately — and fast. In this episode of Ncast, Rafael DeLeon sits down with Stephanie Lyon and Jay Jamison to unpack what it means to use AI in compliance responsibly, from how Nquiry was built to eliminate the research burden to what examiners actually want to see in your documentation when AI informed a decision.Guests: Stephanie Lyon — SVP of Regulatory & Risk Intelligence, Ncontracts Jay Jamison — Chief Product Officer, NcontractsIn this episode:• Why lean compliance teams are stuck playing compliance encyclopedia — and what that costs• What citations, current sourcing, and visible reasoning have to do with trust in any AI tool• The liability question: when an AI tool gets it wrong, who owns it?• How Nquiry's purpose-built regulatory library and integration with nComply sets it apart from general-purpose AI• What hallucination risk looks like beyond wrong answers — and why regulatory nuance is the harder problem• The examiner's checklist: what Rafael looked for at the OCC when institutions used third-party tools to support compliance decisions• How to tell whether your AI tool is reducing uncertainty or creating itLearn more about Nquiry: https://hubs.ly/Q04f3J8w0

Ross Bolen and Barrett Dudley discuss and review season 3, episode 3 of “Euphoria” on HBO. Later this week, take on The Wire season 3 with us on Patreon.com/OystersClamsCockles. Support Our Sponsors: NordVPN.com/OCC to get a Huge Discount off your NordVPN Plan + 4 additional months on top! Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

U.S. spot bitcoin ETFs cross $102B in net assets. On this episode of CoinDesk's Public Keys from the New York Stock Exchange, Jennifer Sanasie is joined by Andy Baehr, Managing Director of Asset Management at GSR, to break down the firm's first-ever ETF, the GSR Crypto Core3, that gives investors actively managed exposure to Bitcoin, Ethereum, and Solana with weekly rebalancing and staking rewards. Nick van Eck, CEO and Co-Founder of Agora, unpacks why major US banking groups are pushing to slow down implementation of the Genius Act, and what Agora's National Trust Bank Charter filing with the OCC means for the future of stablecoin issuance. Plus, 21Shares Chief Investment Strategist Adrian Fritz joins to dig into the staggering ETF flows, with spot Bitcoin ETFs crossing $102 billion in net assets and Ethereum ETFs seeing the longest-ever inflow streak. Fritz weighs in on the five catalysts that could push BTC above $80,000 and why Hyperliquid stands out as altcoin season fades. - Timecodes: 00:00 Welcome to Public Keys 00:28 Bitcoin Eyes $80K, MSTR Adds 3,273 BTC 01:20 Kelp DAO Exploit Triggers $13B DeFi Wipeout 01:47 The Week Ahead: FOMC and Big Tech Earnings 02:10 Andy Baehr of GSR on BESO Core3 ETF 04:48 Morgan Stanley, Goldman Sachs and the Institutional ETF Wave 08:27 What's Next on GSR's ETF Roadmap 11:19 Nick van Eck on US Banks Delaying Genius Act Implementation 14:26 Why Agora Filed for OCC National Trust Bank Charter 19:01 Spot Bitcoin ETFs Cross $102B in Net Assets 19:54 Ethereum ETFs Hit Longest-Ever 10-Day Inflow Streak 22:01 Adrian Fritz of 21Shares on What ETF Flows Are Signaling 24:40 Five Catalysts That Could Push Bitcoin Above $80K 27:38 Macro Outlook: FOMC, PCE Data and Oil 29:00 Hyperliquid Stands Out as Altcoin Season Fades 31:04 Crypto Fear and Greed Index Climbs to 47 - This episode was hosted by Jennifer Sanasie.

With time starting to run out on the 119th Congress's calendar, comprehensive crypto market structure legislation is nearing the endgame stage. Banks meanwhile, are playing stall tactics across the board between Stablecoin yields and the OCC.~This episode is sponsored by iTrust Capital~iTrustCapital | Get $100 Funding Reward + No Monthly Fees when you sign up using our custom link! ➜ https://bit.ly/iTrustPaulGUEST: Bill Hughes - Senior Counsel & Dir. of Global Regulatory Matters - ConsensysFollow Bill on X ➜ https://x.com/BillHughesDC00:00 Intro00:10 Sponsor: iTrust Capital01:00 Why are banks asking for a pause?02:40 How does this affect crypto?03:50 How does this tie to CLARITY?04:40 What If OCC bans yields entirely?05:30 Banks want AML on DeFi06:20 Is Scott Bessent defending yields?08:40 Banks slowing down banking licenses?10:10 Odds CLARITY passes?11:40 Will Trump apply pressure to Banks?13:00 How else can Banks stall?14:30 NOT passing CLARITY is a good thing?#Crypto #Bitcoin #Ethereum~Banks vs CLARITY Stall Tactics⚖️Consensus Lawyer Bill Hughes INTERVIEW

Morgan Stanley's spot Bitcoin ETF traded a million shares by day four — at 14 basis points. Not bad for a firm that spent years on the sidelines of the ETF race.Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, joins David Sencil at Paris Blockchain Week 2026 to walk through how the bank is approaching digital assets — across product, infrastructure, and regulation — and why she says there's more coming behind this launch.We cover:Morgan Stanley's spot BTC ETF launch and the 14bp fee strategyWhy emerging-markets investors tend to navigate crypto better than mostThe three-bucket framework: investments, infrastructure, new productsWhere Amy lands on quantum and "Q-day" for BitcoinThe GENIUS Act, OCC digital trust charter, and what's still missing from US clarityWhy cypherpunks and Wall Street aren't as far apart as they lookHost: David SencilRecorded at Paris Blockchain Week 2026.

Tiffany Smith (WilmerHale) speaks with Beth Haddock (Warburton Advisers) and Boaz Goldwater (Davis Polk) about Treasury's notice of proposed rulemaking implementing the Genius Act's framework for regulating payment stablecoins, focusing on guidance for state regimes to qualify as “substantially similar” to the federal approach. This podcast episode from the City Bar's Presidential Task Force on AI and Digital Technologies compares the dual federal/state structure to banking and securities regulation, and describes “uniform” requirements versus areas with limited state calibration (e.g., capital, liquidity, supervisory procedures). We discuss the inter-agency stablecoin certification review committee's discretion, challenges from evolving OCC standards, and the ten billion outstanding issuance threshold that triggers transition to OCC supervision while retaining state oversight, with possible waivers for certain pre-existing state regimes. We highlight key ambiguities for issuers, including moving federal benchmarks, supervisory capacity, and unresolved capital/liquidity measurement issues. 01:38 Genius Act Rulemaking Overview 03:08 Dual Federal State Framework 04:17 Why a State Pathway 09:31 State Discretion in Practice 11:31 Managing Moving Goalposts 13:34 Certification Review Committee 15:56 Reserve Capital Liquidity Rules 19:05 Crossing the 10 Billion Threshold 23:42 Supervision and Enforcement Capacity 25:33 Choosing State vs Federal Oversight 28:20 Open Questions and Comment Priorities

In this episode of AML Conversations, Elliot Berman is joined by Jennie Jonas, Senior Vice President of Financial Crime Advisory, to discuss the recent surge in fintechs pursuing OCC limited-purpose trust charters. They explore what's driving this trend, how limited trust charters differ from full bank charters, and why these structures are especially attractive for fintechs operating in payments and digital assets. The conversation also dives into common misconceptions, the reality of “bank‑grade” AML and governance expectations, and what fintechs should prepare for before—and after—receiving a charter. From compliance program design and OCC examination rigor to risk governance, board expectations, and the future evolution of charter authorities, this episode offers practical insight for fintechs considering a charter and for institutions working with chartered fintech partners.

Glen speaks with Andrew Warren about the Financial Health Network's new report which makes the case for modernizing the definition of underbanked consumers. Also- X Money makes its long-promised debut, and the OCC potentially rides to the rescue of interchange (and workable payment processes). Plus a discount code for May's fast-approaching EMERGE conference.      Links related to this episode: The Financial Health Network's latest 26-page "brief": Unbanked, Underbanked, or Something Else Entirely The Financial Health Network's EMERGE conference, May 19-21 in Atlanta: https://finhealthnetwork.org/event/emerge-financial-health-2026/   USE CODE "JOINME-GLEN" FOR A DISCOUNTED RATE Ron Shevlin's take on the prospects for X Money- https://www.forbes.com/sites/ronshevlin/2026/04/17/musks-x-money-how-it-could-win-and-why-it-wont/  Payments Dive on the OCC's move to short-circuit Illinois' Interchange Fee Prohibition Act: https://www.paymentsdive.com/news/occ-plans-to-preempt-illinois-interchange-law/817618/ Our recent conversation with Ncontracts' Stephanie Lyon about the shifting regulatory environment, including interchange battles: https://www.big-fintech.com/the-states-of-financial-regulation/  If CU Unplugged's style of hands-on problem solving sounds like your cup of collaborative tea, check out our Innovation Club. This group of forward thinkers meets virtually each month, and our twice-annual in-person session is coming up in May. Reach out about a guest pass: https://www.big-fintech.com/innovation-club/     Follow us on LinkedIn:  https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/n/glensarvady/ 

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore it more fully, and looking for some hard-hitting insights on compliance. Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss new Federal Reserve, FDIC, and OCC model risk management guidance issued late Friday, arguing it replaces detailed, bright-line expectations with thin, principles-based language. They contrast the prior OCC guidance (109 pages) with the new 12-page document, saying it describes model risk governance abstractly but offers little direction on what banks should do, leaving decisions about materiality and oversight to management. They highlight practical consequences for bank compliance and internal audit, including reduced leverage to insist on prudent governance, potential weakening of AML model oversight under the strict-liability Bank Secrecy Act, and the risk of more arbitrary enforcement amid reduced regulatory staffing. They also note that the guidance excludes AI models, with future AI guidance promised only through a later comment process. Key highlights: From 109 pages to 12 Principles vs specifics debate Internal audit sidelined Regulators and capacity cuts AI models left out  Resources: Matt on Radical Compliance  Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred a Davey, a Communicator Award, and a W3 Award, all for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ross Bolen and Barrett Dudley discuss and review episode 2 of “Euphoria” season 3 on HBO. Later this week, take on The Wire season 3 with us on Patreon.com/OystersClamsCockles. Support Our Sponsors: ShopRemi.com/OCC code "OCC" for 50% OFF your new night guard Lucy.co/OCC code "OCC" for 20% OFF your first order Video Produced by Kade Orris Subscribe on YouTube:⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

We Like Shooting - Ep 658 This episode of We Like Shooting is brought to you by: C&G Holsters (Code: WLSISLIFE) Midwest Industries (Code: WLSISLIFE) Gideon Optics (Code: WLSISLIFE) Rost Martin (Code: WLSISLIFE) Otis Technology (Code: WELIKESHOOTING15) Second Call Defense Text Dear WLS or Reviews +1 743 500 2171  Public   Show Titles   GunCon.net Tickets on sale now. Use code AGENCY171 GEAR CHAT Note Rost Martin Full size Note Ruger RXM review almost done. Note Nick got me back into 6mm ARC [Gideon Optics] Rock Red Dot Sight The Gideon Optics Rock Pistol Red Dot Sight features a compact 15.5mm x 22mm lens with unlimited eye relief and parallax-free operation at 33 yards for fast target acquisition. It offers red or green illumination with a 45MOA circle/3MOA dot or single 3MOA dot reticle, 1 MOA per click adjustments over 45 clicks, shake-to-wake activation, and up to 50,000 hours battery life from a CR-1632. Constructed from 7075-T6 aluminum with IPX7 waterproof/shockproof rating, it uses RMR footprint or includes a low-profile 1913 Picatinny mount. [Midwest Industries] MK2 QD 34MM Scope Mount The Midwest Industries MK2 QD 34MM Scope Mount features a patented QD lever by Elite Defense and is constructed from hard coat anodized 6061 aluminum for lifetime service. It offers a fully adjustable QD lever requiring no tools, superior clamping that avoids rail damage, and precision machining for optimal return to zero performance. Available in standard (MI-MK2-QD34SM) and high (MI-MK2-QD34SMH) variants, it supports scopes up to 56mm objective and includes the Optic Mount Tool. [AmmunitionToGo] Rifle Zero Calculator The Rifle Zero Calculator is a digital online tool provided by AmmunitionToGo for determining optimal rifle zeroing distances based on user-input parameters such as cartridge, bullet weight, and muzzle velocity. It assists shooters in calculating ballistic trajectories for precise zeroing. No physical product details are available. BULLET POINTS GUN FIGHTS No one stepped into the arena this week. THE AGENCY BRIEF Agency Update THE HOOK (COLD OPEN) “If you've ever wondered when the federal government decided your constitutional rights needed a permission slip and a background check, welcome to the Gun Control Act of 1968.” THE INTEL (THE STORY) Why?: The 1960s were a mess of race riots, civil unrest, and high-profile assassinations (JFK, MLK, RFK). The political elite used the national panic to ram through a wishlist of federal gun control they had wanted for decades, convincing the public that the legal supply chain was the enemy, rather than the radicals pulling the triggers. The Play-by-Play: What it did: Backroom Deals: Domestic gun manufacturers essentially sold out the people. They backed the bill because it banned the import of cheap, foreign-made handguns—effectively wiping out their competition. The Media Lie: The press sold the GCA as a “targeted” bill to stop assassins. They completely ignored that it effectively criminalized the interstate market, invented the “prohibited persons” list, and choked off the legal supply chain for everyday citizens. The Reality Check (Hidden Incentives): Rumors: Rumor (Highly Credible): Senator Thomas Dodd explicitly modeled the 1968 GCA after Nazi Germany's 1938 Weapons Law. Dodd was a prosecutor at the Nuremberg Trials and public records confirm he had the Library of Congress translate the Nazi law. The structural parallels involving dealer licensing, tracking, and “sporting” clauses are nearly identical. Rumor: LBJ's push for the law was heavily influenced by elite, backroom fears of armed Black Panther patrols in California, rather than just the high-profile assassinations. Gun control is in fact rooted in racism. THE 2A ANGLE (LEGAL & IMPACT) The Threat: The GCA is the mother-ship of modern federal gun control. It created the Federal Firearms License (FFL) system, age restrictions, and the “prohibited persons” list. The ATF's current “zero tolerance” strategy of revoking licenses for misspelled words is entirely dependent on the FFL chokepoint created right here in '68. Bruen Test: Regulatory Creep: Pattern 1: Regulate the seller instead of banning the buyer (creating the FFL dependency). Pattern 2: Exploit intentionally vague language (like “engaged in the business”) so unelected bureaucrats can expand the law later without a Congressional vote. Pattern 3: Frame rights restrictions as “regulating interstate commerce” to bypass the Constitution. Pattern 4: Build the architecture of a registry quietly through compliance paperwork (Form 4473). THE TALKING POINTS (ON-AIR READY) WLS IS LIFESTYLE GFEN's Gun Maker's Match GMM is an annual DIY gun competition event that is the first official shooting competition exclusively for individuals who make their own guns. Multiple stage events are conducted for both Kit Built and 3D Printed guns in Pistol, PCC, and Rifle Divisions, with a special side match for .22lr 3D Printed Firearms. Guns For Everyone National has created the first Competition Series for 3D Printed & Kit Built Firearms.0 THE ALLEY AuxArc 3D Printable Firearms Holsters and Gear @AuxArc is a MakerWorld profile specializing in 3D printable models for firearms accessories, including holsters compatible with Glock 17/19 and Ruger RXM, as well as storage solutions for ammo and batteries. Pinned models feature OWB and IWB holsters with options for lights like Streamlight TLR-1/TLR-7 and optic cuts. These are designed for 3D printing with some watertight and parametric features, but no detailed mechanical specs beyond compatibility are provided. GOING BALLISTIC National Rifle Association v. NRA Foundation Lawsuit (Washington, D.C.) The NRA Foundation faces ongoing transparency issues in a lawsuit filed by the National Rifle Association alleging illegal trademark use and failure to distribute funds. The Washington, D.C. Attorney General's office mediated the dispute but efforts failed, leading to a FOIA request (R005465-030626) for leadership details. The Foundation provided its 2024 Form 990 but refuses to disclose current trustees, officers, or salaries until the 2025 filing on November 15, 2026. New York Proposed Bills Reclassify BB Guns and Air Guns as Imitation Firearms (Savage) New York lawmakers have introduced bills in both the Assembly and Senate to reclassify airguns, BB rifles, and pellet guns as imitation firearms, requiring barrel plugs and toy-like coloration that would render them non-functional for firing projectiles. This aims to prevent police shootings involving realistic-looking airguns mistaken for real firearms. Paintball guns are exempted but face a raised purchase age from 16 to 18, while manufacturers would be deemed firearms industry members subject to public nuisance lawsuits. Colorado SB 26-043: Firearm Barrel Background Checks (Savage) Colorado Senate Bill 26-043 requires background checks, dealer transfers, and five-year recordkeeping for sales or transfers of firearm barrels, treating them like complete firearms. Non-serialized barrels must be serialized, with penalties including up to 30 days in jail and $500 fine for first-offense violations. The bill targets ghost guns but imposes compliance on all law-abiding gun owners in Colorado. Virginia HB40: Spanberger Signs Ghost Gun Ban (Savage) Virginia Governor Spanberger signed HB40, banning the manufacture, transfer, sale, importation, and eventual possession of unserialized firearms and unfinished frames or receivers in the Commonwealth of Virginia. The law establishes a serialization process for federal firearms licensees but includes no grandfather clause. Most provisions take effect January 1, 2027, with the possession ban effective July 1, 2027.0 OCC and FDIC Final Rule Prohibiting Discrimination Against Firearm Companies (Savage) The OCC and FDIC have issued a new Final Rule that prohibits banking regulators from using ‘reputational risk' as a basis for supervisory actions against institutions serving the firearm and ammunition industry. This rule ends the practice of debanking lawful gun businesses by barring adverse actions based on political, social, or constitutionally protected activities. The National Shooting Sports Foundation praised it as a significant victory under the Trump administration. FPC Statement on Trump Administration's Decision to Support Biden ATF ‘Frame or Receiver' Rule (Savage) Firearms Policy Coalition (FPC) issued a statement criticizing the Trump Administration for maintaining the Biden-era ATF ‘Frame or Receiver' rule after the U.S. Supreme Court upheld it in March 2025. Despite FPC providing a proposed alternative rule in May 2025 and numerous other recommendations, the Administration informed FPC it would preserve the existing definition of firearm ‘frame' and ‘receiver'. FPC accuses the Administration of actively working against Second Amendment rights rather than protecting them. OCC and FDIC Final Rule Prohibiting Reputational Risk-Based Debanking of Firearm Industry The OCC and FDIC issued a final rule that eliminates ‘reputational risk' as a basis for supervisory actions against banks, directly addressing debanking of lawful firearm and ammunition businesses. This change prohibits regulators from encouraging account closures based on political or social views, promoting objective banking supervision. The rule responds to prior findings of inappropriate distinctions against gun-related companies by FDIC-insured institutions. Virginia Proposed Assault Weapons Ban: Gun Store Sales Surge in Henrico County Gun sales in Virginia have surged dramatically as residents rush to purchase firearms ahead of a proposed state ‘assault weapons' ban set to prohibit AR-15 possession after July 1, 2026, unless owned prior. Background checks rose from 47,069 in March 2025 to 79,

Ross Bolen and Barrett Dudley discuss and review the season 3 premiere of “Euphoria” on HBO. Later this week, take on The Wire season 3 with us on Patreon.com/OystersClamsCockles. Support Our Sponsors: NordVPN.com/OCC to get a Huge Discount off your NordVPN Plan + 4 additional months on top! Quince.com/OCC to refresh your wardrobe with FREE shipping and 365-day returns Hims.com/OCC to get a personalized, affordable plan that gets you Video Produced by Kade Orris Subscribe on YouTube:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

We're coming off one of the most action-packed single weekends of the trail running year. We recap Lake Sonoma, Gorge Waterfalls, Desert Rats by UTMB, Calamorro Skyrace, Marathon des Sables, and the BPN Backyard Ultra all in one episode with co-host Alyssa Clark.Lotti Brinks ran fifth overall at Gorge Waterfalls 100K and shattered the women's course record. Dylan Bowman suggested it might be the trail performance of the year, and we ask whether she's now a legitimate podium threat at Western States. Jennifer Lichter won the 50K against Yao Miao, the back-to-back OCC champion, by nearly four minutes, coming off a 100K course record at Black Canyon this past February. She is the truth right now.At the BPN Backyard Ultra, veteran Mike Egan used a wheelchair to complete 110 miles. When the mud got too thick to push through, he got out and dragged it. It might be the photo of the year in trail running, and we're only in April. The event pulled 19.6 million TikTok searches in its first edition, and we ask: who's building the Trail Team equivalent for backyard ultra?At Marathon des Sables, Des Linden made the podium in her desert ultra debut. We call it her arrival in the trail scene. Heather Jackson won Desert Rats 100K three weeks out from Cocodona 250. She has a vlog series called "The Season That Might Break Me" and we break down what her win means for her race at the Cocodona 250 next month. In a field she wasn't even seeded in, Jane Maus went to Spain and took second at the Calamorro Skyrace in her first official sky race ever.We also cover:Ryan Sullivan going wire-to-wire dominant at Lake Sonoma 100K (a Norda athlete from Grand Junction worth watching)Spencer Shellberg, another Grand Junction name, winning Desert Rats 100K by 40+ minutesGerda Steyn seventh win at Two Oceans, one of the most dominant ultra runners of this generationNicholas Thompson (editor-in-chief of The Atlantic) setting the 50+ American record at the Mad City 50K.Rendezvu, Faves and the case for athlete-led affiliate commerce in trail runningLucy Bartholomew running a 2:41 marathon in Paris to close out a 23-hour training weekGiven to Fly, the new Brian Morrison book on his 2006 Western States near-winPartners:Precision Fuel and Hydration - use code SINGLETRACK at checkout for 15% off your next orderNorda - check out the 005: the lightest, fastest, most stable trail racing shoe ever madeRaide - Making equipment for efficient human-powered movement in the mountains Janji - premium trail running apparelSupport the show

In this week's This Week in AML, Elliot Berman and John Byrne break down FinCEN's newly released notice of proposed rulemaking to modernize the AML/CFT program rule—its first major rethink in two decades. They explore what a risk-based refocus could mean in practice, including new requirements for risk assessments, changes to the four pillars, examiner discretion, and the unprecedented requirement that bank regulators consult with FinCEN before certain enforcement actions. The conversation also covers a flurry of regulatory and enforcement developments: the OCC's GENIUS Act proposal on stablecoins, the removal of reputation risk from bank examinations, and what both could mean for smaller financial institutions. Elliot and John look back at the 10-year anniversary of the Panama Papers, review the FBI's 2025 Internet Crime Report, and discuss global enforcement challenges—from scam centers in Southeast Asia to resource constraints at foreign FIUs.

Ida Robsham is a Norwegian trail runner for Asics. Ida had an incredible 2025 season with top tens at Zegama, Mont Blanc Marathon and OCC and an outstanding fourth place finish at the World Championships. Ida then finished off her season with a wicked fast Valencia Marathon performance.--Partners

In this episode of the Consumer Finance Monitor Podcast, host Alan Kaplinsky is joined by colleagues Pilar French and Burt Rublin to unpack a rapidly evolving issue at the intersection of bank–FinTech partnerships and interstate lending: the renewed exercise of state opt-out authority under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA). Colorado enacted an opt-out statute in 2023 that is the subject of ongoing litigation before the entire Tenth Circuit Court of Appeals, and very recently the Oregon Legislature passed an opt-out bill as well. The Podcast discussion highlights how a little-used statutory provision is now at the center of a major legal and policy debate—one that could reshape the landscape for state-chartered banks and the broader consumer finance industry. The Foundation: Interest Rate Exportation Under DIDMCA For decades, state-chartered, FDIC-insured banks have relied on Section 27 of the Federal Deposit Insurance Act—enacted through DIDMCA—to "export" interest rates permitted in their home states to borrowers nationwide. This authority mirrors the power granted to national banks under the National Bank Act and has been a cornerstone of interstate lending. However, DIDMCA also includes a lesser-known provision—Section 525—that allows states to opt out of this federal framework for state banks with respect to "loans made in such state." For years, this provision attracted little attention. That is now changing. Oregon's House Bill 4116: A New Wave of Opt-Out Activity Oregon's recently passed House Bill 4116 represents one of the most significant modern uses of the DIDMCA opt-out provision. If signed into law, it would: 1.     Reimpose Oregon's interest rate caps (generally 36%) on certain loans made to Oregon residents; 2.     Apply broadly to consumer finance loans of $50,000 or less; 3.     Expand the definition of where a loan is "made" to include the borrower's location—such as where the consumer resides or enters into the loan agreement. Surprisingly, the law applies to state-chartered banks but excludes credit unions. The legislation appears driven by concerns over high-interest, short-term lending, though testimony suggested that such loans represent only a small portion of the market. Critics argue that the bill oversimplifies complex lending structures—particularly bank–FinTech partnerships—through politically appealing but potentially misleading narratives. The Core Legal Dispute: Where Is a Loan "Made"? At the heart of both the Oregon legislation and ongoing litigation in the Tenth Circuit concerning the Colorado opt-out statute is a fundamental interpretive question: where is a loan "made" for purposes of Section 525 of DIDMCA? 1.     Industry Position: A loan is "made" where the bank is located, because the bank is the entity that extends credit. Therefore, an opt-out by a state only enables it to impose its own usury laws on loans made by its own state banks  and eliminates their ability to charge interest pursuant to Section 27 of the Federal Deposit Insurance Act. 2.     Opt-out State/Consumer Advocate Position: A loan is "made" both where the bank is located and where the borrower resides. This means that an opt-out state can apply its own usury laws to interstate loans made to its citizens by state banks located in other states. This distinction is critical. If the broader interpretation prevails, states that opt out of DIDMCA could effectively regulate interest rates charged by out-of-state banks to their residents—significantly curtailing interstate lending. The Colorado Litigation: A Pivotal Case Colorado's opt-out statute has become the testing ground for this issue, as it raises an issue that all sides agree is one of first impression. 1.     A federal district court sided with industry plaintiffs, granting a preliminary injunction against enforcement of the opt-out statute and holding that only the bank's location determines where a loan is made. 2.     A divided panel of the Tenth Circuit reversed that decision, adopting Colorado's argument that a loan is made in both the borrower's location and where the bank is located. 3.     In a significant and very unusual development, last week the Tenth Circuit granted rehearing en banc, vacating the panel decision and ordering additional briefing for consideration by the entire Court. The case has attracted substantial attention, including numerous amicus briefs on both sides from bank trade associations, consumer organizations, numerous Red and Blue State attorneys general, and federal bank regulators. Federal Bank Regulators Weigh in With Amicus Briefs Supporting Rehearing En Banc Both the FDIC and the Office of the Comptroller of the Currency have criticized the broader interpretation of DIDMCA's opt-out provision adopted in the now-vacated majority panel opinion by the Tenth Circuit. 1.     The FDIC originally supported Colorado during the Biden Administration but then shifted its support to the banks' position during the second Trump Administration and filed an amicus brief that supported rehearing en banc and aligned with the industry view. 2.     The OCC emphasized that the panel decision could undermine the goal of Section 521 of DIDMCA to create parity between state and national banks and would undermine the dual banking system and introduce significant uncertainty into the lending market. These positions underscore the potential systemic impact of the case. Practical Implications for State Banks Engaged in Interstate Lending As a result of the enactment of the Oregon law and if additional states enact similar legislation, out-of-state banks lending to residents of a state which has enacted an opt-out statute may face difficult choices: 1.     Comply with state-specific rate caps; 2.     Exit certain markets altogether; 3.     File a declaratory judgment action seeking injunctive relief against the state agency charged with enforcing the opt-out statute based on Federal preemption of such statute under Section 27 of the Federal Deposit Insurance Act. The uncertainty extends beyond origination. Secondary market participants may face increased due diligence burdens, as determining where a loan is "made" becomes more complex—especially in an era of digital lending and mobile consumers. Broader Industry Impact The implications could be far-reaching: 1.     Reduced interstate lending by state-chartered banks; 2.     Migration to national bank charters to preserve rate exportation authority; 3.     Fragmentation of the regulatory landscape, with a patchwork of state rules; 4.     Increased compliance complexity for bank–FinTech partnerships and loan purchasers. In short, the dual banking system could face renewed pressure if state-chartered banks cannot export their home state interest rates when making interstate loans to borrowers in opt-out states, which would deprive them of competitive parity with national banks. What Comes Next? Several developments will be critical to watch: 1.     The outcome of the Tenth Circuit's en banc review; 2.     Whether additional states follow Oregon's lead; 3.     The potential for U.S. Supreme Court review; 4.     Federal legislative proposals that could eliminate the opt-out provision altogether (though prospects for passage appear uncertain). Key Takeaways 1.     The DIDMCA opt-out provision, long dormant, is reemerging as a potential tool for states to regulate interest rates charged to their citizens by out-of-state state banks. 2.     The determination of where a loan is "made" for purposes of Section 525 of DIDMCA is now a central legal battleground. 3.     The forthcoming Tenth Circuit en banc decision will set an important precedent with nationwide implications. 4.     A growing patchwork of state laws could significantly complicate interstate lending. 5.     The future of bank–FinTech partnerships and the dual banking system may hinge on how these issues are resolved. As these developments continue to unfold, financial institutions, regulators, and policymakers alike will need to navigate an increasingly complex and uncertain legal environment—one that may redefine the rules of interstate lending in the United States.

AML RightSource's John Byrne sits down with Dan Stipano, partner at Davis Polk's Financial Institutions and Regulation Group and former Deputy Enforcement Director at the OCC, for an immediate reaction to FinCEN's newly proposed AML/CFT Program Rule. The conversation covers the genesis of the proposal and its key structural changes — including the bifurcation of program establishment and implementation, the formal incorporation of national AML priorities, and the clarification of the US-based compliance officer requirement. Most notably, the two dig into what may be the rule's most consequential provision: FinCEN's unprecedented new role as a gatekeeper over federal banking agency supervisory and enforcement actions. They also touch on a separate final rule from the OCC, the Fed, and the FDIC that eliminates reputational risk from the supervisory framework and what that means for banks' account decisions going forward.

Who needs a script? What happened during Holy Week at OCC? Why was the Easter series titled "So What?" What is the most compelling evidence for the resurrection? Why was it so difficult for Jesus' family to believe He was the Messiah? Why does the resurrection matter to Christians today? What's the next series? All this and more on this week's episode. Enjoy!

Ross Bolen and Barrett Dudley discuss Phil Lord and Chris Miller's “Project Hail Mary” starring Ryan Gosling, their individual theater experiences, and Ryan Gosling's top 5 movies. Later this week, take on The Wire season 3 with us on Patreon.com/OystersClamsCockles. Support Our Sponsors: FactorMeals.com/occ50off code "occ50off" for 50% OFF and FREE daily greens per box Lucy.co/OCC code "OCC" for 20% OFF your first order Video Produced by Kade Orris Subscribe on YouTube:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Market volatility is mirroring the spring weather—swinging from 80 degrees to 40 in a flash. Host Mark Longo is joined by "The Flowmaster" Henry Schwartz of Cboe and Uncle Mike Tosaw of St. Charles Wealth Management to break down a record-shattering month in the options market and find out why everyone is suddenly trading... soup? On this episode, the crew dives into: The Trading Block: A look at a massive "Red Thursday." We recap the overnight sell-off fueled by geopolitical tensions and the surprising intraday recovery. Volume Records: March was a "banger." We break down the OCC numbers showing over 1.5 billion contracts traded—the spiciest month in history. The Odd Block: * Campbell Soup (CPB): Why is there aggressive call buying in a stock the CEO allegedly caught on a hot mic disparaging? Marathon Digital (MARA): Deciphering the massive roll in the 8.5 calls as crypto miners pivot to AI data centers. Replimune Group (REPL): A 300% IV biotech play that has "wild" written all over it. Around the Block: Predictions on the long-term market impact of Middle East conflicts and what to watch for in a truncated holiday week.

Ross Bolen and Barrett Dudley discuss the theatrical success of Project Hail Mary, Jury Duty Presents: Company Retreat, DTF St. Louis, Stephen Colbert writing a Lord of the Rings movie, what's coming in April, and more. Take on The Wire season 3 with us exclusively on Patreon.com/OystersClamsCockles. Support Our Sponsors: Squarespace.com/OCC code “OCC” for 10% OFF your first purchase of a website or domain ShopRemi.com/OCC code “OCC” for 50% OFF your new night guard Lucy.co/OCC code “OCC” for 20% OFF your first order (00:17 - 06:37) Project Hail Mary (06:38 - 11:33) Fackham Hall (13:47 - 25:12) Stephen Colbert writing LOTR (27:09 - 39:05) Jury Duty Presents: Company Retreat (40:39 - 54:44) DTF St. Louis (54:45 - 55:29) A Knight of the Seven Kingdoms season 2 (55:30 - 1:02:59) TV Shows Coming in April Video Produced by Kade Orris Subscribe on YouTube:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Ross Bolen and Barrett Dudley discuss Paramount purchasing Warner Bros. Discovery, HBO's new mini-series DTF St. Louis, and Timothée Chalamet's controversial comments on opera and ballet. Also, Barrett finally watching Sinners. Later this week, take on The Wire season 3 with us on ⁠Patreon.com/OystersClamsCockles⁠. Support Our Sponsors: ⁠FactorMeals.com/occ50off⁠ for 50% off your first Factor box PLUS free breakfast for 1-year ⁠Squarespace.com/OCC⁠ code “OCC” for 10% OFF your first purchase of a website or domain ⁠Lucy.co/OCC⁠ code “OCC” for 20% OFF your first order Video Produced by Kade Orris Subscribe on YouTube:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com⁠ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Our co-heads of Securitized Products Research Jay Bacow and James Egan discuss the impact of upcoming regulatory changes on U.S. mortgage rates and home sales.Read more insights from Morgan Stanley.----- Transcript -----Jay Bacow: It is March and there's some madness going on. I'm Jay Bacow, here with Jim Egan, noted Wahoo Wa fan. James Egan: Hey, it looks like Virginia's going to be back in the tournament this year, hoping for a three seed, looking like a four seed. It's the first year that my son is really excited about it. So, hoping we can win a few games. Jay Bacow: Let's hope they don't lose the first game and make him cry like you did a few years ago. But … Welcome to Thoughts on the Market. I'm Jay Bacow, co-head of Securitized Products Research at Morgan Stanley. James Egan: And I'm Jim Egan, the other co-head of Securitized Products Research at Morgan Stanley. Jay Bacow: Today, with everything going on in the world, we thought it'd be prudent to discuss the U.S. mortgage and housing market. It's Thursday, March 12th at 10:30am in New York. James Egan: Jay, as you mentioned, there is a lot going on in markets right now, but hey, people need to live somewhere. And those somewheres remain pretty unaffordable. But this administration has been very focused on affordability, and we also have some updates on what is clearly the most exciting part of the housing and mortgage markets – regulation. What's going on there? Jay Bacow: Look, nothing gets me more excited than thinking about the regulatory outlook for the mortgage market. We've been focusing a lot on what's happening in D.C. with possible changes that could be helping out affordability, changes to the investor program, changes to the policy rate. But Michelle Bowman, who is the Vice Chair of Supervision, has been recently on the tape saying that we could get an update and a proposal for the Basel Endgame by the end of this month; and that proposal for the Basel Endgame is likely to make it easier for banks to hold loans on their balance sheet. It's going to give banks excess capital and the combination of these, along with some other changes that are going to be coming from the Fed, the FDIC and the OCC around: For instance, the GSIB surcharge that our banking analysts led by Manan Gosalia have spoken about – it's really going to help out the mortgage market in our view. James Egan: Alright, so freeing up capital, helping the mortgage market. When we think about the implications to affordability specifically, what do you think it means for mortgage rates? Jay Bacow: Right. So, it's important that [when] we think about the mortgage rate, we realize where it's coming from. The mortgage rate starts off with the level of Treasury rates, and then you add upon that a spread. And the spread is dependent among a number of different factors. But one of the biggest ones is just the demand. And one of the reasons why mortgage rates have been so high over the previous four years was (a) Treasury rates were high, but also the spread was wide. And we think one of the biggest reasons why the spread was wide is that the domestic banks, who are the largest asset type investor in mortgages – they own $3 trillion of mortgages – basically weren't buying them over the past four years. And one of the reasons they weren't buying was they didn't have the regulatory clarity. And so, if the banks come back, that will cause that spread to tighten, which will likely cause the mortgage rate to come down. That is presumably, Jim, good about affordability, right? James Egan: Yes. And I want to clarify, or at least emphasize, that affordability itself has been improving. Over the course of the past four to five months at this point, we've been close to, if not at the lowest mortgage rate we've seen in three years. And when we think about what that has practically done to the monthly principal and interest payment on homes purchased today. Like that monthly payment on the median priced home is down $150 over the past year. That's about a 7 percent decrease. When we lay in incomes – or when we layer in incomes to get into that actual affordability equation, we're at our most affordable place since the second quarter of 2022. So yes, big picture, this is still a challenge to affordability environment. But it's not as challenged as it's been over the past three years. Jay Bacow: All right, so affordability improving. It's still challenged though. What does that mean for home prices then? James Egan: So, when we think about the home price implication of mortgage rates coming down; of mortgage rates coming down in an environment where incomes are going up – we're thinking about demand for shelter, purchase volumes and supply of that shelter. And demand really has not reacted to the improved affordability environment. That's not unusual. Normally takes about 12 months for affordability improvement to pull through in terms of increased transaction volumes. But we do think that the lock-in effect that we've talked about in detail on this podcast in the past, that is going to play a role here. Mortgage rates end of February finally hit a five handle, really, for the first time in three years. They're back above that now with the volatility in the interest rate markets. But from 4 percent to 6 percent, mortgage rates is effectively an air pocket. We don't think you're going to get a lot of unlocking at these levels. So we think that transaction volumes will pick up. We're calling for 3 to 4 percent growth in purchase volumes this year. But they've been largely flat for two to three years at this point. And more importantly, any improvement in affordability that comes from a decrease in mortgage rates is going to lead to commensurately more supply alongside that growth in demand – which is going to keep home prices, specifically, very range bound here. The pace of growth is slowed to about 1.3 to 1.5 percent right now. We've been here for four or five months. We think we're pretty much going to stay here. We we're calling for 2 percent growth, so a little bit acceleration. But we think you're in a very range bound home price market. Jay Bacow: All right, so home prices range bound, affordability improved. But still has a little bit of room to go. Some possible tailwinds from the deregulatory path that will make homes being a little bit more affordable. Fair amount going on. Jim, always a pleasure speaking to you James Egan: And always great speaking to you too, Jay. And to all of our regular listeners, thank you for adding us to your playlist. Let us know what you think wherever you get this podcast. And share Thoughts on the Market with a friend or colleague today.Jay Bacow: Go smash that subscribe button!

The crew discusses whether prediction markets enable “Bloomberg terminal espionage,,” wonder how to regulate markets that could be on anything, dive into why the OCC is saying no to stablecoin yield and more. The SEC has submitted guidance on how securities laws apply to crypto to the White House. DEX in the City hosts Jessi Brooks, Katherine Kirkpatrick Bos and TuongVy Le dig into what the proposal could mean for the crypto industry and whether it could be enough to provide developers regulatory clarity as anticipated market structure legislation stalls. Why is the agency submitting guidance to the White House? Plus, KK explains why current regulatory efforts could lead crypto to resort to more “come at me bro” legal tactics and Jessi covers why the industry may regret the U.S. Supreme Court's decision to overturn Chevron deference. Beyond the SEC's recent crypto regulatory move, the crew discusses the arrest of the son of a government contractor alleged to have stolen the U.S.'s bitcoin, what the DOJ's planned retrial of unresolved charges against Roman Storm suggests and why banks are up in arms over Kraken's “skinny” Fed master account. They also discuss why the crypto industry should tighten up security as Iranian groups target U.S. banking services and tech infrastructure. Hosts: ⁠⁠⁠⁠Jessi Brooks⁠⁠⁠⁠, General Counsel at Ribbit Capital ⁠⁠⁠Katherine Kirkpatrick Bos⁠⁠⁠, General Counsel at StarkWare ⁠⁠⁠⁠⁠TuongVy Le⁠, General Counsel at Veda Links: Unchained: ⁠SEC Sends Crypto Securities Framework to the White House Blame Exchanges for Holding Up the Market Structure Bill? - DEX in the City DOJ Pushes for Retrial of Tornado Cash Developer Roman Storm Kraken Wins Direct Access to the Fed's Payment System Learn more about your ad choices. Visit megaphone.fm/adchoices

Ross Bolen and Barrett Dudley discuss and review the season 1 finale of “A Knight of the Seven Kingdoms” on HBO. Later this week, further discussion driven by hotline calls from listeners/viewers in an ad-free podcast available exclusively on ⁠Patreon.com/OystersClamsCockles⁠. Support Our Sponsors: ⁠Squarespace.com/OCC⁠ code “OCC” for 10% OFF your first purchase of a website or domain ⁠Lucy.co/OCC⁠ code “OCC” for 20% OFF your first order ⁠ChillCountry.com/OCC⁠ code “OCC” for 25% OFF your next order! Video Produced by Kade Orris Subscribe on YouTube:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube.com/@OystersClamsCockles⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Presented by Bolen Media:⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BolenMedia.com⁠ Learn more about your ad choices. Visit podcastchoices.com/adchoices