Readers: What was the best book you read in August?

Live footage of me turning in my latest article for Bank Director magazine.

Bank Director/FinXTech is hiring a banking and fintech editor! DM if you have questions about the role. (Note: I’m not the EIC but would be your potential colleague on the editorial team.)

We don’t talk often enough about the after effects of large natural disasters — hurricanes, fires, floods. How long it takes to rebuild, whether people want or can rebuild, and how many people are displaced.

What have you read and enjoyed recently? I read some strong nonfiction in May, including Careless People by Sarah Wynn-Williams and The Dark Queens by Shelley Puhak.

Don’t sleep on this

Some thoughts on Trump's EO re "disparate impact" and its impact on financial services. www.joshualawfirm.com/2025/04/trum...

Latest issue of Bank Director is up and explores: *What Trump 2.0 means for bank regulation *The SoCal fires and the state of the insurance industry *Why a bank director’s job is now tougher *Why cybersecurity and fraud are top of mind in our 2025 Risk Survey www.bankdirector.com/magazine/2nd...

Jamie Dimon said JPMorgan will scale back spending on some diversity initiatives that he sees as a waste of money, while he also reiterated the bank’s commitment to working with Black, Hispanic and LGBTQ communities 🎁Gift Link: www.bloomberg.com/news/article...

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Someone just turned in her latest story for Bank Director magazine. (It’s me.)

Capital Economics: “The resulting surge in US inflation from these tariffs and other future measures is going to come even faster and be larger than we initially expected…The window for the Fed to resume cutting interest rates at any point over the next 12 to 18 months just slammed shut.”

I don’t believe this analysis includes now likely retaliatory actions — so I’d posit negative effects would be worse than projected here.

Sharing my January 2025 reads (from @thestorygraph.com) — topping the list were How to Sell a Haunted House, My Darling Dreadful Thing and Orbital. What are you reading now?

We’ve kicked off Acquire or Be Acquired! #AOBA25 KBW’s Tom Michaud is providing an industry update — says we’re in the next M&A wave and believes banking has turned a corner.

The latest issue of Bank Director magazine is out now — with my cover story on the seven deadly sins of bank boards! I spent time wading through material loss reviews and talking to seasoned bank leaders for this piece. Check it out at BankDirector.com (subscription needed).

Best Reads of 2024 Fiction + Non-Fiction *Note, this is the best I read this year, not based on when it was published. What’s on your list?

As the planet warms, insurance companies are dropping homeowners in communities they deem too dangerous because of wildfires, hurricanes and other threats. Now, for the first time, the scale of that pullback is becoming public. nyti.ms/41EOpNc

Two words dominated @federalreserve Chairman Powell’s comments today. “Uncertainty & Caution.” The Fed reluctantly cut, with a significant amount of push back in the meeting. Dissent from @ClevelandFed Prez was not done in a vacuum. Three participants were with her.

When I say this looks exactly like my high school band uniform …

In addition to the toll on people, environmental damage: “The economic damage caused by extreme weather is rising, according to … Swiss Re. … estimated economic losses in 2024 rose by 6% to $320bn, a figure 25% higher than the average over the previous 10 years.”

What’re you reading? Me 👇

Bank leaders don’t like credit unions buying banks, according to Bank Director's 2025 Bank M&A Survey — until it’s time to sell. An uptick in these deals has largely been driven by price. Uncover the reality behind these transactions: www.bankdirector.com/article/coul...

TOMORROW: Gain insights on bank M&A from two seasoned dealmakers! Jim Ryan of Old National Bank + Randy Chesler of Glacier Bancorp will join me to discuss their recent experiences, lessons learned + their expectations for 2025. vimeo.com/event/459127...

NEW: President-elect Trump has about everything going for him lately, except this: Mortgage rates are back at ~7% Trump vowed to lower mortgage rates and housing costs. That's going to be tough if the bond markets keeps thinking his agenda is inflationary... www.washingtonpost.com/opinions/202...

What are the top profitability challenges facing banks? Bank Director’s 2025 Bank M&A Survey finds the majority of bank leaders pointing to deposit costs, with regulatory compliance + tech expenses a relatively distant 2nd + 3rd. Read more: www.bankdirector.com/article/2025...

Bank Director’s 2025 Bank M&A Survey is out now! Findings include: - More optimism for deals - Price remains a key deal hurdle - Deposit costs continue to challenge profitability Read more about this and more: www.bankdirector.com/article/2025...

WE OFFICIALLY HAVE OUR FIRST MEMBER OF THE FOMC ON BLUESKY

“Extend and pretend” practices at banks could be masking asset quality problems in CRE portfolios. Find out how boards can dig deeper. www.bankdirector.com/article/tack...

Good reminder that CEOs report to their boards — even the CEO of the biggest U.S. bank. And he can’t (and won’t) run JPM forever.

The FDIC published the material loss review for Republic First Bank, noting a “dysfunctional” board + the bank’s “dominant” former CEO. I wrote about the battle in the Republic boardroom about a year before it failed. www.bankdirector.com/article/boar...

Coming up on Dec. 3: Will deal volume pick up next year? Join me as I interview two bank CEOs seasoned in dealmaking: Randall Chesler of Glacier Bancorp + Jim Ryan of Old National Bancorp. We'll learn from their experiences + look at what to expect for 2025. Register Here: vimeo.com/event/459127...

Putting some numbers on Elon's plan to cut $2 trillion per year: -32% cut to EVERYTHING -protect Mcare, SS, 56% cut to all else -protect Mcare, SS, vets, 62% cut to all else -protect Mcare, SS, vets, defense, 90% cut to all else -protect Mcare, Mcaid, SS, vets, defense, mathematically impossible

Handwringing all the way back to the 1880s.

We’re probably about to find out who was “real” about ESG. Honestly, the term is getting relabeled back to corporate social responsibility for a number of companies (including banks). And it’s the “E” that’s a sticking point for most.

NEW from the paragraph factory: Elon Musk runs six companies. Now, @chafkin.bsky.social and I lay out the case for how his political project is basically the 7th. And yes, we have a line about the squirrel. GIFT LINK: www.bloomberg.com/news/feature...

Friendster, y’all. My Gen Z kids (in college) are all about Discord. And one’s on IG. Things change. And Twitter is NOT what it once was.

Interesting to watch how homebuyers act as real estate marketplaces have started to publish data on climate risks.

About Me: - Focused on banking/corporate governance/finreg via work for Bank Director magazine (writer/editor/head of research); also interested in finance/econ - omnivorous reader, fiction and nonfiction - amateur musician + have several crafty little hobbies - this little guy is often in my lap

Hello! Giving BlueSky a go after leaving the bad place. I’m also on Threads. Anyone here from the financial/banking space? Any readers or crafters?