Podcast
The Banker Next Door
Hosted by Dr. Joseph Bergquist · EN
BND is focused on the U.S. Banking industry and how the industry intersects with finance, technology, and economics. Topics discussed can include all types of banking products and lines of business along with strategy, marketing, management, and leadership.
113episodes
Episodes
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What did the Fed discover from their focus group on Unbanked and Underbanked demographic?
2w ago00:14:19Tap to summarizeThe Cleveland Federal Reserve Bank recently conducted a focus group with subjects representing the Unbanked and Underbanked demographic. What they found was that this group really likes cash, alternatives such as prepaid cards, fintech tools, and money orders were very popular, hacking fears and bank fees are a top concern, complained about the time it took to open a bank account, and had some negative experiences with banks. On the plus side, subjects stated that they liked checking accounts and debit cards and felt that having a bank account helped them to build credit. They also liked the convenience of bank branches. This episode reviewed a blog post from PCBB titled “The unbanked: Fears, fees, and missed connections.” A link to the blog post is included below. Link: The Unbanked: Fears, Fees, and Missed Connections
Transcribe →It turns out AI is just human after all
2w ago00:10:07Tap to summarizeAn AI test was conducted using the largest four AI models. The test included Gemini, GPT, Grok, and Claude. Researchers built a virtual town with a town hall, marketplace, police station, and homes. Ten AI residents with jobs, names, memories, and relationships were created. The town was provided with an economy. Residents were expected to earn their keep, follow rules, carry out tasks, and create laws. Crimes had to be identified. AI residents were not supposed to commit crimes. Once everything was ready, the researchers stepped back and let the AI run the virtual town for 15 days. The researchers ran 5 versions of the test all with the same rules. Each AI system received 1 test and 1 test was comingled with all 4 systems. The results were a disaster! Grok failed in 4 days, everyone died. Gemini failed while committing 700 crimes and the residents burned down the town. GPT residents stopped doing what was required to live and they all died. Claude made it through the 15 days but had an abnormally high level of agreement, which the researchers agreed was wrong. The final mixed test showed that “safety is not a static model property but an ecosystem property.” This test is a warning of the danger AI poses. AI is created by humans and thus subject to human flaws. This episode examined an article from The Epoch Times (subscription required) titled “The most important AI experiment you’ve never heard of.”
Transcribe →Bank News: JPMorgan shakeup, stress tests, Deluxe, CFPB, deposit posting, and M&A
2w ago00:17:51Tap to summarizeBank News: First Reliance Bank buys Colony Bank. Superior National Bank to purchase Range Financial Corp. North Shore Bank to acquire 1895 Bancorp. Hancock Whitney Corp’s acquisition of OFB Bancshares was very strategic. Credit Union purchases of banks have slowed in 2026. Washington state de novo United Development Bank announces leadership team. Management shake up at JPMorgan. Big banks breeze through stress tests. Deluxe buys Celero Commerce. KeyBank is betting on relationships over tech. CFPB overhauls complaint system. D.C. Circuit Court remanded the CFPB workforce-reduction case back to the district court. GOP senator is looking into bank practice of deposit posting. Andrew Cuomo will co-chair a joint venture between cryptocurrency firm OKX and NYSE parent Intercontinental Exchange. This episode reviewed multiple articles from Banking Dive, S&P Global Market Intelligence, and The Wall Street Journal.
Transcribe →Interview with Dr. Bill Minnis
2w ago00:44:24Tap to summarizeDr. Bill Minnis returns to BND to discuss academia, banking, AI, and efficiency. Higher education has many challenges at the moment. AI is changing the landscape. What does this mean for higher education’s future. How does this tie into banking? Where does efficiency come in? Dr. Minnis helps us to understand the current environment and what we should be focused on moving into the future.
Transcribe →BND: Strategy Room 6-27-2026
3w ago02:29:03Tap to summarizeThe 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.
Transcribe →Review of Dallas Fed paper on the impacts of Illegal Immigration on U.S. Labor and Housing Markets.
3w ago00:19:28Tap to summarizeThe Dallas Federal Reserve Bank recently conducted research on the effects of unauthorized or more accurately illegal immigration on U.S. labor and housing markets. The findings of the paper suggest that local employment increased without significant declines to local wages. However, on a per capita basis, illegal immigrant workers reduced wage compensation of the local workforce. In addition, the influx of illegal immigrants caused a demand shock, which increased the cost of local housing and dramatically increased the cost of housing on a national level. This episode reviewed a research paper from the Federal Reserve Bank of Dallas titled “The Impacts of Unauthorized Immigration on U.S. Labor and Housing Markets: New Evidence from Administrative Microdata.” A link to the research paper is included below. Link: The Impacts of Unauthorized Immigration on U.S. Labor and Housing Markets: New Evidence from Administrative Microdata - Research Dept. Working Paper No. 2607 - Dallas Fed
Transcribe →Review of Cleveland Federal Reserve Bank paper on bank lending to NBFIs
3w ago00:18:23Tap to summarizeThe Cleveland Federal Reserve Bank recently conducted research on the overall risk exposure of bank lending to nonbank financial institutions (NBFIs). Direct bank lending to the nonfinancial business sector in the U.S. has decreased in recent decades. However, bank lending to NBFIs, which then lends the money directly to the nonfinancial business sector has dramatically increased in recent years. What then is the true credit risk exposure to bank loans made to NBFIs? The researcher used the Federal Reserve’s novel issuer-to-holder data to create an estimate of the share of lending by NBFIs to nonfinancial businesses that are indirectly financed by the banking sector. This episode reviewed a research paper from the Federal Reserve Bank of Cleveland titled “How much nonbank business lending is indirectly funded by banks? Some evidence from a new data set.” A link to the research paper is included below. Link: How Much Nonbank Business Lending Is Indirectly Funded by Banks? Some Evidence from a New Data Set
Transcribe →Alan Greenspan, former Chairman of the Federal Reserve, passes away at 100
3w ago00:25:55Tap to summarizeAlan Greenspan served 19 years (5 terms) as Chairman of the Federal Reserve from 1987 to 2006. Alan followed Paul Volcker and was appointed by President Ronald Reagan. Alan was a highly intelligent man, a great economist, who could be funny (in his own way), charming, eloquent, and very likeable. He served under both Republican and Democrat Presidential administrations, getting along with both parties. Alan became a ‘rock star’ in the 1990’s as the rise of cable TV, the creation of business news network CNBC, and the Fed’s increased commitment to more communication led to a new kind of attention on the Fed Chair. The news media and politicians would hang on to his every word, trying to decipher his ‘green-speak.’ Alan became known as the ‘maestro,’ for his mastery of managing the U.S. economy. However, everything was not pleasant during his tenure as he had to deal with the 87-stock market crash, a recession in the early 90s, and the dot-com bubble bursting in 2000 along with 9/11. Alan was not without his missteps. During the 90s, Alan allowed asset price inflation, which helped the economy to boom, but ultimately led to the dot-com bubble. Alan became known for the phrase ‘irrational exuberance’ in the market. Alan then lowered interest rates in the early 2000s and kept them low for too long, which again helped the economy to boom leading to a real estate bubble that burst in 2007. Alan’s legacy is complicated. He was a great Chairman of the Fed, maybe the greatest. At the same time, he ushered us into the age of bubbles. To this day we are still dealing with the ramifications of that. This episode examined articles from CNBC, The Wall Street Journal, and Investopedia.
Transcribe →What are Perpetual Futures, also known as Perps?
3w ago00:16:06Tap to summarizePerpetual Futures (“Perps”) are derivative contracts without an expiration date. They allow traders to speculate on the underlying asset prices indefinitely. The critical item to note is that with a Perps contract you DO NOT OWN the underlying asset. Perps contracts are different from Synthetic Futures Contracts. Perps have recently come into the news as the CFTC recently approved Kalshi to start trading crypto perpetual futures. Trading volume on Kalshi exploded in the first week with over $1 billion in activity. One of the biggest bets was on the SpaceX IPO. Not everyone is happy about this. The CFTC chair Michael Selig went onto CNBC to plead his case and justify the approval. Shortly thereafter, CME CEO Terrence Duffy announced that CME will be suing CFTC over Perps approval. CME argues that Perps are swap contracts. Perps originally gained popularity in foreign countries with crypto traders as exchanges such as Hyperliquid and Binance began offering this product back in 2016. This episode examined articles from CNBC and Investopedia.
Transcribe →Bank News: M&A update, new CEOs, regulators, liquidation error, and no geniuses!
3w ago00:20:32Tap to summarizeBank News: M&A update – Santander-Webster deal receives OCC approval, MidFirst Bank will purchase Texas-based Dallas Capital Bank, Michigan-based Isabella Bank Corp. will purchase Grand River Commerce for roughly $54.6MM, Tyson Corner, Virginia-based ODNB Financial Corp. will purchase Washington, D.C.-based National Capital Bancorp for $97.8MM. Robinhood is eliminating 300 employees. Fiserv named its next CEO Takis Georgakopoulos. Mike Lyons leaves Fiserv to become CEO of Truist Bank as of September 1, 2026. Bank analysts have various opinions on what this new hire means for Truist. OCC revises MDI policy. GAO recommends that the FDIC start to rotate their examiners. A jury awarded plaintiff Patrick Byrne $16.525 million in compensatory damages and $62.9 million in punitive damages related to his wrongful termination from Ameris Bank. Nubank notifies customers that it is not being liquidated by the Brazilian Central Bank. Cameron Wadley has done an amazing job at Bank of America. JPMorgan, BofA, and others are now challenging the BNPL space. This episode reviewed multiple articles from Banking Dive and S&P Global Market Intelligence.
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