The Banker Next Door

Episode 181: Interview with Chad Hull from Janney

This episode is an interview with Investment Banker Chad Hull from Janney. We discussed his role as an investment banker, his career, the history of Janney and the company’s products. We get into the current bank merger and acquisition environment. As always, we get into his favorite business book and business related movie. If you would like to learn more about Janney, a link to the company’s website is listed below.
Link: Janney Montgomery Scott | Beyond Investing - Connecting

Episode 180: Mid-year economic outlook for 2024

This episode looks at a recent blog post from PCBB titled “Are we there yet?”: The saga of the economy so far in 2024.” This blog post provides an overview of consumer & business sentiment, an economic overview, the banking landscape, and housing trends. A link to the PCBB blog post is attached below.
Link: “Are We There Yet?”: The Saga of the Economy So Far in 2024 (pcbb.com)

Episode 179: What is the new Paze digital wallet?

This episode explains what the new Paze digital wallet is. This new app is aiming to compete with PayPal and Apple Pay. Paze has been developed and will be operated by bank-owned financial technology company Early Warning Services, LLC, which also operates the Zelle app. Early Warning Services, LLC is owned by JP Morgan Chase & Co, Bank of America Corp, Capital One Financial Corp, PNC Financial Services Group, Truist Financial Corp, U.S. Bancorp, and Wells Fargo & Co.

Episode 178: How to survive a Wiperware Cyberattack!

This episode looks at a recent blog post from PCBB titled “Key takeaways from a Wiperware Cyberattack Simulation.” NACHA and GRF recently hosted two exercises in April and May of 2024 using the Operational Resilience Framework to test the operational resilience of financial institutions from a Wiperware attack. Recommendations include tips for recovering after a Wiperware attack and best practices for protecting against such an attack. Links to the PCBB blog post and the Operational Resilience Framework are attached below.
Link: Key Takeaways from a Wiperware Cyberattack Simulation (pcbb.com)
Link: Enhancing_Operational_Resilience_for_ACH_Network_Participants_FINAL.pdf (nacha.org)

Episode 177: Banking Update 7-14-2024

This episode provides a weekly update on U.S. banking industry news.

Episode 176: 40 banks "disappeared" in China!!!

This episode examines the “disappearance” of 40 banks this week in China. The Chinese economy has been reeling in recent years due to a massive real estate bubble. This week the existing debt problems seem to be coming to a head. 40 banks failed and another 3,800 have been identified as being in serious trouble. If the Chinese economy collapses in the next year, this can have major ramifications for the global economy and Geo-politics.
Link: China's banking turmoil: 40 banks vanish, Jiangxi leads collapse (msn.com)

Episode 175: What is happening with pharmacies?

This episode looks at the recent problems with Walgreens, CVS, and Rite aid. All three companies are struggling financially and closing a large number of retail stores. Did the pharmacies problems start recently or does the genesis of these problems go back to the Affordable Care Act (Obamacare)? If the closing of these stores creates “pharmacy deserts,” what then for consumers?  

Episode 174: Why are banks dumping their insurance units?

This episode looks at an article from Bank Director written by Lucas Parris titled “Is it time to eat the golden goose and sell your insurance business?” This article examines why banks are selling their insurance units. A link to the article is below.
Link: Is It Time to Eat the Golden Goose and Sell Your Insurance Business? | Bank Director

Episode 173: FedNow is turning 1, how is it going?

This episode looks at the FedNow service as it approaches 1 year in operation. We review an article by Nick Denning titled “The FedNow Service is turning 1, what comes next?” We also take a look at the FedNow website and the FedNow instant payments website. Links to all three are below.
Link:  The FedNow Service is Turning 1, What Comes Next? (icba.org)
Link: FedNow Service (frbservices.org)
Link: Find Learning and Resources With FedNow Explorer

Episode 172: Was the SCOTUS ruling on Chevron good or bad for banks?

This episode looks at the ruling handed down by the U.S. Supreme Court on a case known as “Chevron deference.” This ruling will reduce the ability of Federal agencies and Federal regulators to interpret laws as they see fit. What does this mean for the banking industry? Is this a good thing or a bad thing?