Dr. 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.  

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.

The 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

The 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

Alan 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.

Perpetual 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.

Bank 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.

This video is a clip from BND: Strategy Room Live Stream on June 19, 2026. Kevin Warsh conducted his first FOMC meeting as Chairman of the Federal Reserve. Mr. Warsh wants to bring ‘regime change’ to the Fed. The first meeting focused on four main topics: 1) interest rates, 2) Fed statement (Forward Guidance), 3) Dot Plot, and 4) committees. The FOMC voted unanimously 12-0 to hold the Federal Funds Rate steady. The Fed’s normal statement was dramatically reduced from over 300 words down to just 130 words. It eliminated most of the forward guidance from the statement. The Fed governors put forth their Dot Plot projections; however, Mr. Warsh did not submit one. The group shows no rate cuts for the rest of 2026 and 1 rate increase before the end of the year. Finally, Mr. Warsh established five new committees that will focus on communications, balance sheet, data sources, employment, and inflation. These committees will have until the end of the year to submit their findings and provide recommendations.  

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.

Feedspot Podcasts list of 80 Best Banking Podcasts - https://podcast.feedspot.com/banking_podcasts/

Bank Director’s 2026 Compensation & Talent Survey looks at compensation for bank CEOs, CFOs, and board members. The survey also looks at succession planning and AI impacts on the workforce. Some of the key findings include succession planning responsibility, developing the next CEO, increased costs (headcount), talent opportunities from M&A, rising CEO bonuses, and DEI value. This episode reviewed Bank Director’s Compensation & Talent Survey for 2026. A link to the report is included below.

Link: 2026-Compensation-Report.pdf

P.S. BND was named to FeedSpot Podcasts Top 80 Best Banking Podcasts for 2026. A link to the list is included below.

Link: 80 Best Banking Podcasts to Listen to in 2026