Bank Failures And How They Reshaped The Financial Industry with Pete Oquist (Ep. 3)

Ready to uncover the untold stories behind bank failures and their profound impact on the ever-evolving world of finance?

In this episode, Mike Heckman invites Pete Oquist, a retired Federal Deposit Insurance Corporation (FDIC) examiner. This week, Pete dives into the gripping history of bank failures and their lasting impact on the financial industry.

Pete discusses: 

• The interesting history of bank deregulation and how it impacted the ways banks operated and continue operating in the current day
• His own experiences as an FDIC examiner
• The story behind how he ended up working 12 hours a day, seven days a week 
• Banks in the 60s versus banks in the 21st century
• Reasons you have to be a lot smarter to run a bank now
• And more!

Resources:

• Meet the Team at Sable Point Wealth Management

Connect with Mike Heckman: 

• LinkedIn: Mike Heckman MS, CFP®, CEPA®
• mike@sablepointwm.com
• Sable Point Wealth Management
• (231) 425-4308

Connect with Pete Oquist:

• LinkedIn: Pete Oquist

About Our Guest: 

Pete Oquist’s experience includes: 

COMMISSIONED EXAMINER, FDIC, Division of Supervision and Consumer Compliance. Responsible for supervision and regulation of state-chartered non-member banks. 

COMMISSIONED SENIOR EXAMINER, Federal Reserve Bank of Chicago, Supervision, and Regulation, 2002 to 2006.   Responsible for supervision and regulation of community state-chartered member banks. 

FINANCIAL INSTITUTION EXAMINER, State of Michigan, Department of Consumer and Industry Services, 1985 to 2002. Responsible for supervision and regulation of state-charted banks.