Bank executive insights, unique business strategies, regulatory updates from D.C., and fun banking stories—all this and more on the ABA Banking Journal Podcast, brought to you weekly by the American Bankers Association's award-winning podcast team.
Why recession odds for 2023 are fifty-fifty
As the Federal Reserve continues its efforts to drive inflation lower this year and next, the ABA Economic Advisory Committee expects stalling economic growth in 2023, followed by a modest recovery in 2024. On the latest episode of the podcast — sponsored by xChange — EAC Chair Simona Mocuta shares the committee’s consensus forecast. The chief economist at State Street Global Advisors also discusses the committee’s 50/50 recession odds for 2023, their surprising forecast for a rate cut by the end of the year (signaling their confidence in the Fed’s ability to bring down inflation), how the economic outlook may affect loan demand and credit quality.
Top bank tech and innovation trends for 2023
What’s on the horizon for bank innovation and fintech in 2023? In this episode of the ABA Banking Journal Podcast — sponsored by xChange — ABA’s Office of Innovation team explores top tech trends for the year ahead. Among other topics, they discuss the growing role of investment in foundational infrastructure like core processing, how APIs and middleware are helping banks innovate, declining consumer interest in crypto (although digital assets broadly remain an area of focus), what new AI tools like ChatGPT may mean for banking, the importance of digital identity in fraud prevention, and how banks are changing their strategies internally to promote innovation.
How CDFI status helps one community bank stay independent
“We’re a small bank, and it gets more expensive all the time to run a small community bank,” says Andy Anderson, president and CEO of Bank of Anguilla in Anguilla, Mississippi. “As long as we can do this profitably and remain in our community, that’s what we want to do. [CDFI] designation has helped us tremendously over the last few years to remain here and serve our community.”
In this episode of the ABA Banking Journal Podcast — sponsored by xChange — Anderson discusses why Bank of Anguilla became a community development financial institution. The bank was already doing CDFI work in its rural Mississippi Delta market in two of Mississippi’s poorest countries, and Anderson discusses how certification has helped the bank pursue its mission and remain independent. Awards from the CDFI Fund — such as the Bank Enterprise Award — “have become a valuable source of income for Bank of Anguilla,” Anderson notes.
Anderson will discuss the role of CDFIs, including banks, in advancing economic inclusion at the ABA Conference for Community Bankers, Feb. 12-14 in Orlando.
What’s on banks’ policy agenda for 2023?
What’s on the banking industry’s policy radar for 2023? ABA’s Government Relations Council recently met in Washington, D.C., and GRC Chair Cathy Owen joins the podcast — sponsored by xChange — to recap the topics of consideration as the association prepares its banker-led Blueprint for Growth for the coming year. Highlights include driving a healthy and inclusive economy, supporting a dynamic and innovative banking industry and protecting consumers with consistent regulation.
Owen, who is chairman and CEO of State Holding Company in Little Rock, Arkansas, also discusses her own career background in community banking, her message on advocacy, challenges her bank is facing with hiring and talent and what she’s doing to elevate women in leadership in Arkansas’ banking sector.
The community bank M&A outlook for 2023
As the end of the year draws near, banking journalist and analyst Paul Davis joins the ABA Banking Journal Podcast, sponsored by Intrafi Network, to discuss the bank mergers and acquisitions outlook for 2023. Among other topics, Davis discusses:
Factors driving lower M&A rates in 2022 Why interest rate trends may make banks more attractive to investors and less attractive for acquisitions by banks The trend of investment groups purchasing bank charters How depressed valuations in the fintech sector may affect bank M&A and de novo activity
Something old, something new in payments fraud
Something old, something new: In 2022, check fraud remains a focus of bank risk professionals, while instant P2P payments are an increasingly popular platform for scammers seeking to take advantage of consumers. With respect to the latter, consumers need to realize that “this stuff behaves like cash,” says Peter Tapling on the latest episode of the ABA Banking Journal Podcast, sponsored by Intrafi Network. That immediacy is why these platforms are attractive to both consumers and fraudsters. On this episode, Tapling and ABA’s Paul Benda discuss:
The persistence of check fraud and check washing scams in 2022. How banks are tackling fraud that employs P2P instant payment platforms. Liability for transactions authorized by a customer that are later claimed to be fraudulent. The importance of consumer education campaigns like #BanksNeverAskThat and “Take Five to Stop Fraud.” Controls banks can put in place to limit fraud attempts without slowing down all instant payments across the board. Tapling and Benda will discuss this topic in greater depth at ABA’s Conference for Community Bankers, Feb. 12-14, 2023, in Orlando.
Empowering, insightful and actionable! 🙌
Whether you’re well established as someone innovating in the world of banking and finance, or just getting started as a catalyst for change within your organization - this is a must-listen podcast for you! Evan and the entire ABA team do an incredible job leading conversations that cover a huge breadth of topics related to the ins and outs of successfully navigating an ever changing banking landscape - from leaders who’ve actually walked the path. Highly recommend listening and subscribing!
Scintillating view into the secret world of high finance
This was an excellent listen, highlighting elements of banking not commonly understood by the general public. The host Evan Sparks deftly guided the conversation to highlight interesting elements of the interviewees experience. Altogether an excellent podcast, and I will continue to subscribe.