The Banker Next Door

Episode 299: How to make cybersecurity part of your bank's culture

This episode examines five recent blog posts from PCBB that cover cybersecurity. We primarily look at how to make cybersecurity part of a bank’s culture. Additionally, we cover the topics of Bluetooth security, website domain attacks, and ransomware. Links to the blog posts are included below.
Link: Five Tips for Making Cybersecurity Part of Company Culture
Link: How To Deal with the Ever-Increasing Cybercrime Threat
Link: Protecting Your Website Domain from Common Cyberattacks
Link: The Importance of Bluetooth Security
Link: Protecting Your Institution as Ransomware Ramps Up

Episode 298: 1033 rule aka Open Banking update!

This episode provides an update on the 1033 rule also known as Open Banking. There have been major updates in just the past few weeks. ICBA released their Open Banking Guide, PCBB reported on the evolving open banking data standards, and the CFPB provided updated guidance. What does all this mean for financial institutions and consumers? What are the dangers and potential consequences of Open Banking? Links to related articles, blog posts, and the Open Banking guide are included below.  
Link: The Evolution of Open Banking Data Standards
Link: API Security Helps Keep Your Data Safe
Link: Five years on and 60% of consumers still don’t understand what Open Banking is | NTT DATA
Link: adv_2353a24_icba-open-banking-guidebook.pdf

BND: Strategy Room 1-11-2025

The Banker Next Door (BND) weekly live stream show. Strategy Room provides financial news, commentary, top stories in the business world, economic indicators, and all things banking for the week.

Episode 297: Lessons from Warren Buffett

This episode examines a recent article in The Wall Street Journal (subscription required) titled “What you can learn from young Warren Buffett.” The article covers a new book coming out centered on Warren Buffett’s early investments called “Buffett’s early investments.” The book is written by Brett Gardner. The book focuses on 10 investments Warren made as he was building his investment portfolio. The author takes into consideration Warren’s methods, practices, and analysis for how he ultimately made his investments.

Episode 296: Effective use of Enterprise Risk Management

This episode examines a two-part series from Bank Director titled “Enterprise risk management is about managing risk, not avoiding it.” The articles focus on Enterprise Risk Management or ERM and how banks can make better use of this system when managing risk. The first part focuses on what is ERM and how can you create an effective ERM system in your bank. The second part focuses on what it means to identify, measure, monitor, and control risk. Managing risk is one of THE most important aspects to the success of any bank or financial institution. A link to both articles in included below.
Link: Enterprise Risk Management Is About Managing Risk, Not Avoiding It | Bank Director
Link: Enterprise Risk Management Is About Managing Risk, Not Avoiding It (Part 2) | Bank Director

Episode 295: Recap of top 6 bank compliance issues of 2024

This episode examines a recent ICBA blog post titled “The year in compliance: 6 notable updates for community banks.” The blog post covers the following 6 compliance topics: 1) Beneficial ownership information, 2) CFPB’s guidance on ‘phantom’ opt-in overdraft agreements, 3) FDIC’s proposed rule for FBO accounts in bank-fintech partnerships, 4) CISA’s additional cyber incident reporting rules, 5) Increased check fraud scrutiny for megabanks, and 6) CRA and Section 1071 final rules. These compliance issues will continue to play out throughout 2025. A link to the blog posts is included below.
Link: The Year in Compliance: 6 Notable Updates for Community Banks

Episode 294: Labor market going into 2025

This episode examines six articles to get a picture of what the labor market looks like going into 2025. Some of the topics covered include younger US workers struggle for jobs as entry-level posts disappear, US labor market resilience weakening as joblessness worsens, managers are hiring but workers are still getting ghosted, and the death of middle management. In addition, we look at the 10 hottest jobs heading into 2025. The labor market is not as strong as the headlines would indicate. 2025 is looking like it might be a lukewarm hiring market.  

Episode 293: Update on Credit Unions

This episode examines multiple articles and blog posts to provide an update on credit union activity. Credit Unions set a record with 21 acquisitions of community banks in 2024. This trend is expected to continue in 2025. Credit Unions are using a subordinated debt rule to raise large amounts of money from Wall Street to carry out these transactions, which could be considered a conflict of interest. Furthermore, there is growing consensus among the public and in political circles that credit unions’ advantages in tax exemption and regulation need to be reexamined.

BND: Strategy Room 1-4-2025

The Banker Next Door (BND) weekly live stream show. Strategy Room provides financial news, commentary, top stories in the business world, economic indicators, and all things banking for the week.

Episode 292: Ending the conservatorship for Fannie and Freddie

This episode focuses on a recent blog post from ICBA that discusses ending the conservatorship for Fannie Mae and Freddie Mac. The blog post is titled “As new administration comes to Washington, Ending the Fannie Mae and Freddie Mac conservatorship is urgent.” This has been a major topic of discussion in banking circles since 2008. Its time has come. The conservatorship of Fannie and Freddie needs to end. A link to the blog post is included below. In addition, for more background, a link to podcast episode 231: How did Fannie Mae and Freddie Mac end up in conservatorship Is also included below.
Link: As New Administration Comes to Washington, Ending the Fannie Mae and Freddie Mac Conservatorship Is Urgent
Link: Episode 231: How did Fannie Mae and Freddie Mac end up in conservatorship? https://joeberq.podbean.com/e/episode-231-how-did-fannie-mae-and-freddie-mac-end-up-in-conservatorship/?token=6bc2b52165de67623a964317d4bc3216