John Heltman is the Washington Bureau Chief for American Banker. John previously edited American Banker Magazine and is the creator of American Banker's narrative podcast Bankshot. He was awarded the Grand Neal, the top honor bestowed by the Jesse H. Neal Awards, in 2019 for his narrative podcast series Nobody’s Home, which examines the economic and social impact of concentrated vacant housing. He was also named the 2019 McAllister Editorial Fellow at Medill School of Journalism at Northwestern University. He is a 2005 graduate of St. Mary’s College of Maryland and lives in Baltimore, Md.
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Speaking at the Brookings Institution Friday morning, Consumer Financial Protection Bureau director Rohit Chopra warned that, absent intervention, the U.S. payments system could evolve to resemble that of China, where commerce and payments are deeply intertwined.
October 6 -
The high court heard what is likely the last realistic judicial attempt to assert that the Consumer Financial Protection Bureau is structurally unconstitutional. It didn't go well for the plaintiffs.
October 3 -
The indictment of Senate Banking Committee member Bob Menendez, D-N.J., on bribery and corruption charges may not have a lot of impact on banks' near-term legislative priorities, but it is emblematic of a deeper struggle to preserve the rule of law.
September 26 -
As cannabis becomes more and more commonplace, reasonable people might wonder why Congress hasn't made it easier for banks to serve legal cannabis businesses. But maybe giving big banks and capital markets a green light to dive into cannabis with both feet is an outcome worth avoiding.
September 19 -
Republican Josh Hawley, the senior senator from Missouri, says he intends to offer legislation that would cap credit card rates at 18%. For a bill designed to go nowhere, it's a surprisingly good idea.
September 12 -
The Federal Reserve has been reducing its liabilities steadily since last March, and those effects are starting to be felt. But how low it should ultimately go — and how long it can stay low — is a tricky question.
September 5 -
The regulatory overhaul for large and midsized banks could lead to stronger pressure for those banks to merge in the coming years while leaving smaller banks less competitive — and arguably less stable.
August 29 -
The lack of affordable housing is becoming an increasingly acute political and economic problem. But a few small tweaks to a Federal Housing Administration loan program could unlock prospective homeowners' potential to solve that problem for themselves.
August 22 -
The Basel III: Endgame proposal, as well as forthcoming proposals on living wills, uninsured deposits and long-term debt are coming as banks' interest rate margins are getting slimmer, loan demand is weakening and bank credit seems headed for a downgrade. That's a lot of headwinds for the banking industry.
August 15 -
Moody's decision to downgrade some banks' bond ratings isn't great news, but life will go on. The bigger and more difficult problem is shoring up U.S. sovereign debt ratings in the long-term.
August 8
