Klaros Group

Tracy Basinger, senior advisor at the Klaros Group and former head of supervision at the San Francisco Fed, joins RegFi co-hosts Jeremiah Buckley and Caroline Stapleton for a conversation about regulatory trends in the fintech sector. The group discusses developments related to banking as a service (BaaS), the revolutionary potential of artificial intelligence in the financial services sector, and innovative supervisory approaches to keep pace with rapidly evolving financial technologies. Listen now: https://bit.ly/RegFiEp40 #SFFed #fintech #financialservices #suptech #AI

Klaros Group partner and co-founder Michele Alt pens an op-ed in The Financial Brand about the regulatory ramifications for banks and fintechs following the Supreme Court's recent decision to end Chevron Deference. "The Supreme Court’s message to the agencies in the cases couldn’t be clearer: We do not trust you to interpret and apply the law. It doesn’t matter how long you’ve been doing so. And your internal processes are no substitute for judicial ones." https://lnkd.in/g8Wum247

Klaros Group partner Jonah Crane discusses the fallout from Synapse and the implications for BaaS with American Banker's Miriam Cross: "As the bar is raised for how to run these partnerships in a compliant way, it gets harder to see how it's going to work for small fintechs. Banks want established, scaled programs. It will be harder for new fintechs to find a home." https://lnkd.in/dU8JDr9Y

Klaros Group partner and co-founder Michele Alt was quoted in this CNBC article about Synapse's collapse and the more than 100,000 affected consumers. "What consumers understood was, ‘This is as safe as money in the bank,’ but the FDIC insurance isn’t a pot of money to generally make people whole, it is there to make depositors of a failed bank whole." https://lnkd.in/emmNhNPH

Sharing an article I just published on Start Up Advisory Boards. Big thank you to Naftali Harris, Jeff Hendren, Pauline Roteta, CFA, CFP®, Diana Tsai and the team at Core Innovation Capital for sharing their experiences and insights. I'd really love to hear from you if you have experiences or ideas to share! https://lnkd.in/gAHqkDnB

Klaros Group partner and co-founder Brian Graham was quoted in this POLITICO article about the recent private debt boom. These transactions are also indicative of how the U.S. has pushed “more and more activity — even aside from synthetic risk transfers — out of the banking system to non-bank players. We have visibility into banks. We don’t have visibility into these [private debt] entities, quite often. And all the things that are designed to be shock absorbers for the banking system … they don’t exist for those guys.” https://lnkd.in/gyHnhGUu

Klaros Group managing director Kevin Stein was quoted in this S&P Global article about banks raising capital to enable M&A. "In the current environment post March of 2023, I think the expectation on the part of the regulators is you need to be at the pre-deal capital level post deal on day one, not at the end of some future period." https://lnkd.in/gd8N6DbA

In our latest blog post, Klaros Group partner and co-founder Brian Graham and analyst Jared Dallas shared their thoughts on the state of the banking industry for Q1 2024. https://lnkd.in/eDa-3NRE

In our latest blog post, Klaros Group partner and co-founder Michele Alt shares her thoughts on the future of Banking-as-a-Service. https://lnkd.in/eDWxUNdB

Klaros Group partner Jonah Crane was quoted in this American Banker article about heightened scrutiny of fintech-bank partnerships. "The enforcement actions have provided some additional clarity regarding regulatory expectations, but the map is far from complete. I would expect specialized exam manuals in the coming years to provide more specific guidance and set clearer expectations regarding how to implement third-party risk management for these specific kinds of partnerships." https://lnkd.in/ev8HCxat