ABA Banking Journal Podcast

From the Basel III endgame to Regulation II to new Community Reinvestment Act and Section 1071, 2023 has delivered a regulatory onslaught for the industry. How are bankers navigating the waves of overlapping changes? On this episode, Gary Shook, chair of ABA's Government Relations Council, reflects on the council's recent meeting and offers perspectives on how banks can navigate the policy environment. Shook also highlights areas where ABA is looking to press gains on its positive agenda, including the SAFER Banking Act, the ACRE Act and financial inclusion. And as president and CEO of Community Bankers' Bank in Virginia, Shook discusses the role of bankers' banks in today's landscape, including helping the industry transition to new payment platforms like FedNow.

For high-net-worth clients, generational transitions can be fraught moments — implicating business ownership sales, control transfers, tax situations, philanthropic decisions and of course family dynamics. On the ABA Banking Journal Podcast — sponsored by R&T Deposit Solutions — Todd Brockwell, president of 1900 Wealth, offers strategies for bankers and wealth managers to help their clients navigate these transitions. A veteran of family offices in central Texas, Brockwell discusses how bankers and wealth managers can effectively approach generational dynamics and difficult conversations. He also emphasizes the importance of education, especially for young people in these families. Brockwell offers practical examples of how wealth managers can add value in family transitions. He also discusses the business model of 1900 Wealth and how it interacts with its "old school" parent, Jefferson Bank, a community bank in San Antonio. Register for the ABA Wealth Management and Trust Conference, Feb. 21-23 in New Orleans.

For new couples, does the decision of how to organize their finances — separate accounts, a joint account or a blend of the two — matter? On the ABA Banking Journal Podcast — sponsored by R&T Deposit Solutions — Indiana University marketing professor Jenny Olson discusses new research that provides an answer. Olson and her colleagues randomly assigned new couples to one of three conditions for a two-year period: using only separate accounts, using a joint account only or to a third group that received no instructions about the kind of accounts to use. Couples in the no-instruction group and the separate account group saw declines in relationship quality during the experiment, couples with joint accounts were "buffered" against the declines otherwise expected, she says. "Because we randomly assigned couples, we can take better steps toward understanding causality," Olson says. "Our results really do suggest that having a joint bank account improves relationship quality." While every couple's financial needs are unique and separate accounts may be what's needed in many situations, Olson discusses implications of the research for how bankers and wealth managers approach financial planning conversations with clients. Read the paper by Olson et al. in the Journal of Consumer Research.

Family-owned businesses — especially those crossing the mark of $10 million in annual revenue — often have unique banking needs. They have the freedom to make long-term investments, but they also face challenges associated with funding for growth, complex family dynamics and the need to manage liquidity events for family members, says Mikel Williamson, the newly appointed president and CEO of First Bank in the St. Louis area. On the ABA Banking Journal Podcast — sponsored by R&T Deposit Solutions — Williamson discusses how $6.7 billion-asset First Bank — itself a family-owned enterprise — supports this sector through its Center for Family-Owned Businesses and wealth planning options. He also discusses the bank's investment in core transformation and open digital banking architecture and his background in Texas banking before joining First Bank earlier this year.

"When we're able to take banking to them, at a place where they already have trust with their employer, that's a bridge," says Jennifer Huffman of Atlantic Union Bank's workplace banking product. "From there we're able to grow that relationship." In the latest episode of the ABA Banking Journal Podcast — sponsored by R&T Deposit Solutions — Huffman provides an overview of Atlantic Union's Solutions Banking product, which brings consumer accounts into more than 2,300 small and midsize business clients of the bank. She discusses how it fits into Atlantic Union's organic growth strategy, how the program developed and how it furthers the bank's financial inclusion and financial financial wellness goals. Huffman also discusses her career journey at Atlantic Union Bank, describes her role in the bank's Women's Inclusion Network and shares her tips for leadership and career development as one of ABA's Emerging Leader Award winners for 2023.

"Banks have long supported consumers accessing their own data, but believe it should be done in a safe and sound way that provides them with control," says ABA VP Ryan Miller. With respect to Section 1033 of the Dodd-Frank Act, the CFPB "has attempted to put that into place here." In the latest episode of the ABA Banking Journal Podcast — sponsored by Intrafi — Miller provides an overview of the long-awaited Section 1033 proposed rule. In this episode, Fink also talks about: How the bureau's proposed framework recognizes industry-led efforts like FDX to facilitate safe data-sharing. The end of screen-scraping as envisioned in the proposal. Challenges in the proposal on liability issues and privacy. The need for a level playing field in terms of how Section 1033 supervision is applied across banks, nonbank fintech providers and aggregators. The compliance timelines envisioned for banks of different sizes and the types of accounts covered. How core providers will be positioned to help banks comply. To join ABA's comment letter working group, contact Ryan Miller.

"Capital investment has surprised a great bit of our economy and the business community," says TD Bank EVP Bill Fink. "As rates go up, how could we be having stronger capital investment?" In the latest episode of the ABA Banking Journal Podcast — the third in a series of conversations on the business outlook, sponsored by Intrafi — Fink discusses how the fiscal stimulus of the CHIPS and Science Act and the Inflation Reduction Act, as well as state economic development packages for incentivized facilities in the high-tech, semiconductor and green tech sectors, are offsetting the increase in rates. In this episode, Fink also talks about: Where businesses are looking for growth in an era of rates being "higher for longer." The durability and strength of warehousing and manufacturing facilities in commercial real estate. Continued opportunities for add-on acquisitions amid a constrained M&A market.

"Often, economic change occurs at this level of the economy," says Umpqua Bank EVP Richard Cabrera about the middle market of the commercial sector. "While economic concerns still linger, there's tremendous optimism." The latest episode of the ABA Banking Journal Podcast — sponsored by Intrafi — continues a series of conversations on the business outlook, following last week's episode on the perspectives of CFOs at large corporates and the upper end of the middle market. In this episode, Cabrera discusses: What Umpqua Bank's latest Business Barometer survey says about optimism and growth plans among small businesses and the middle market, which represents 45 million jobs and one-third of U.S. GDP. How banks can work effectively with small and middle market clients, including advising on cybersecurity. Why small and middle market businesses in the western U.S. are more optimistic than their counterparts in other regions. The growing trend of onshoring and nearshoring in middle market supply chains — and what that means for their commercial real estate needs. The continued strength of industrial and warehouse real estate.

Corporate CFOs and finance leaders are "best leading indicators." says Stephen Philipson, head of global markets and specialized finance at U.S. Bank. "They always have to be looking ahead." On the latest episode of the ABA Banking Journal Podcast — sponsored by Intrafi — Philipson discusses findings from U.S. Bank's 2023 CFO Insights Report, among them: Large and middle-market corporate CFOs' accelerated transition from growth mode to cost-cutting and what the slowdown in capital expenditures and business investment may mean for the economy. How banks can support corporate goals for improvements in technological capabilities. The demand of large and middle-market corporate clients for instant payment solutions like FedNow and RTP. This episode is sponsored by Intrafi Network.

The latest incarnation of ABA's award-winning #BanksNeverAskThat anti-phishing campaign returns for National Cybersecurity Awareness Month in October. On the latest episode of the ABA Banking Journal Podcast — presented by Servbank — ABA's Amy Wertlieb talks about new resources this year, including a return of the popular scam quiz and an all-new consumer-facing site plus customizable resources in Spanish. Banks can register for free and use campaign materials all month or at any point during the year. Learn more about #BanksNeverAskThat and register.

With the availability of credit card rewards at stake under the Durbin-Marshall credit card bill, bill sponsor Sen. Roger Marshall dismisses consumer concerns about their rewards. "Rewards are for rich people," Marshall said derisively at a Capitol Hill press conference on Wednesday in response to media questions about consumers' preferences. Facing Marshall at the press conference just happened to be nearly 50 bankers from his home state of Kansas, in D.C. for their annual Washington Visit. On the latest episode of the ABA Banking Journal Podcast — presented by Servbank — three leaders from that delegation reflect on the press conference and what they heard. The podcast guests also discuss the urgency of banker advocacy on Durbin-Marshall, as its sponsors seek to attach it to other legislative vehicles, and they debunk false talking points to show that consumers and small businesses of all income levels use and benefit from credit card rewards. They also illuminate the stakes of the Durbin-Marshall debate for everyday credit card users. Take action to oppose credit card routing mandates.

Employee resource groups have become an important part of diversity, equity and inclusion strategies at larger companies. On the latest episode of the ABA Banking Journal Podcast — presented by Servbank — two bank leaders explore how the ERGs provided by ABA for bankers to benefit from this kind of resource at banks that may not be large enough to host an ERG in-house. Among other topics, Latia Coleman and Krys Lassiter, who lead ABA's Black Bankers ERG for African-American bankers and allies, provide tips on: Creating spaces that help all people feel included, learn, grow and be more authentic. How ERGs can be used at banks of all sizes. Tools and resources offered by ABA's Black Bankers ERG, including education, DEI best practices, public speaking and mentorship. The importance of allyship in making ERGs successful. Join an ABA ERG or peer group.