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00:00 Josh
Big week for the financial sector from the Fed to a key industry conference and developments in Washington. and senior reporter David Hollarith is here with more. David.
00:07 David Hollarith
Hey Josh. So this week, uh beginning tomorrow and then also Wednesday, we have Goldman Sachs is hosting hosting a very large financial services conference. and we’re going to hear from all the larger bank CEOs along with a bunch of other uh CEOs in the financial sector. Um and this is really their last chance to give thoughts in terms of their uh their quarter and also the year.
00:36 David Hollarith
Um now, to that point, um banks, large bank stocks closed at all-time highs on Friday. So, we’re looking at compared to a year ago when investors were pretty optimistic at what’s on pace to be a very good year for large banks.
00:53 Josh
So while we have you, David, by the way, you also you have a meeting on the hill on Thursday. It’s all things crypto. What’s going on there?
01:01 David Hollarith
So, uh we do there’s a report earlier today. um and uh we have uh reached out to uh a trade association for some of the largest banks and uh it’s reported that some CEOs are meeting um with lawmakers to discuss the crypto market structure bill.
01:21 David Hollarith
Now, that’s really important for banks and even more so for the crypto industry. Um and what they want to talk about is essentially, um I guess what you would say bank permissibility, what banks would be able to do. Now, they’re obviously uh already heavily regulated. So that kind of sounds to me like it’s a little bit about uh what will this bill allow anyone in the crypto market to do that will also allow us to do things too.
01:48 David Hollarith
So, um they’re probably uh looking for some pretty uh consistent language with the Bank Secrecy Act and that might not be something that the crypto industry wants to hear. So that’s been a continual debate going on right now.
02:08 Josh
All right, David, thank you, buddy. Appreciate it.