Kaitlin Asrow, Acting Superintendent, New York Department of Financial Services (Other keynotes to be announced)

Bank supervision has been one of the most consequential — and most contested — parts of post-crisis financial policy. To some, the modern supervisory apparatus is what kept the system stable; to others, it became a process-first machine that crowded out substance and missed real risks, like the 2022 rate shock. The Trump administration's new regulators are moving quickly to reshape the playbook, and the debate is no longer theoretical: what's gained, what's lost, and does DC still have the institutional capacity to supervise banks at the scale the economy demands? Raj Date, Meg Tahyar, Grovetta Gardineer and others will debate whether the new regime is a long-overdue correction or a swing too far in the other direction.

Since 1980, DIDMCA has let state-chartered banks export their home-state interest rates nationwide — unless individual states opted out. Colorado did, the Tenth Circuit sided with Colorado in a 2-1 ruling that may reshape fintech lending from coast to coast, and a long-dormant federalism question is suddenly live: where is a loan actually "made" — where the bank sits, or where the borrower lives? Kiah Haslett, John Pitts, Winston Berkman-Breen, David Gossett, and Todd Phillips debate whether Colorado's win is states reclaiming consumer protection, or the unraveling of a framework that has quietly underwritten American credit for forty years.

The GENIUS Act created a regulatory framework that establishes stablecoins in the US as a form of money. The harder question is what it takes for stablecoins to actually work as a payment vehicle: whether third parties should pay rewards to consumers who hold stablecoins, and whether those incentives or other regulatory interventions are what's needed to overcome network switching costs and drive real adoption. Dan Gorfine, Dan Awrey, Tom Brown and others debate what needs to happen for stablecoins to become a working payment system, and what consequences that may have for traditional banking and maturity transformation. 

The US financial regulatory state is under strain from every direction at once: agencies operating under post-Loper Bright constraints and diminished capacity, a Congress that struggles to legislate, charters built for a different financial system, and innovation moving faster than any rulemaking cycle. Some argue the fix is rebuilding agency capacity and creating fit-for-purpose charters — especially for payments — while others argue top-down regulation is effectively over and industry will need to lead on responsible innovation. Paige Smith of Bloomberg moderates Sima Gandhi, David Silberman, Kelvin Chen, and others as they debate what the regulatory state can still do, what it can't, and where that leaves everyone.