End of an era!! In every job, there are people that you just gravitate to because they make you better! At Cross River Bank that’s Jesse Honigberg, one of the smartest and greatest guys I have ever known and will miss him as he moves on to his next adventure changing the world!

There's a new online savings/MM rate leader. Customers Bank retakes #1 spot from UFB Direct: Customers Bank Max Savings: 5.02% → 5.05% APY Available only at Maxmyinterest.com depositaccounts.com/banks/customer…

This is truly incredible. Here is an exchange with Senator James Lankford & Yellen. He asks, "Will every community bank ... get the same treatment as SVB?" Yellen: "Banks only get the treatment if ... the failure to protected uninsured depositors would create systemic risk."

Watch Yellen make things worse by essentially confirm this is now the new model of banking in the country. The banking system now effectively has two tiers: Tier 1: The “too big to fail” banks (JP Morgan Chase, Citi, Wells Fargo, BofA) Tier 2: All other banks If you have

Here's an answer I got using the new Bing, the world’s first AI-powered answer engine. Click to see the full answer and try it yourself. sl.bing.net/g93w9cT5lx6

Smaller banks are crucial drivers of credit growth. Banks smaller than the top 25 largest account for around 38% of all outstanding loans: Fed data. They account for 67% of commercial real estate lending. wsj.com/articles/small…

Great food at the Delta #skyclub - the team here did an amazing job making a surprise Mexican feast!!!

1⃣ Traditional AI and genAI will cohabitate☄️ Why?💡You don't want to use a sledgehammer to drive a nail into a wall Today's day 1⃣ of our🔟day mini series on the state of genAI in financial services. Daily we'll dive into one big idea from our article: baincapitalventures.com/insight/sharin…

Proptech founders: I see it again and again. You want to disrupt real estate, but nobody on your team has actual true real estate experience. You need leadership that's been in the trenches and gets the industry inside and out, not just a bunch of star engineers and MBAs.

1/2 Caitlin Long 🔑⚡️🟠 George Selgin the other broad #challenge that #RTP has is that it benefits net receivers because of the way that liquidity works - net senders need to keep excess liquidity but don't earn any interest on it - in the current environment, this is meaningful.

2/2 #FEDNOW has an implicit advantage because it works off of the fedmaster account - excess liquidity earns fed funds.

I think FedNow is going to fail. It’s pretty close to a system designed to fail — Dan Awrey says he’s more radical than I am on the problems of #FedNow. Points out banks are signing up to receive but not send. How can everyone receive but no one send? #FutureofPayments

We had a turbulent last few years at Braid, and shut it down for good in Sept '23. I wrote a post-mortem and found I had A LOT to say about the past few years in fintech/payments. Enjoy! Braid is Dead, Long Live Braid amandapeyton.com/blog/2023/10/b…

⁦Delta⁩ great morning for a flight!

Sleeps peacefully but at what cost. Eric Adams Zohran Kwame Mamdani

AI investments are exploding, but enterprise returns remain mediocre. The core issue? Leadership deploys intelligence as if it were automation. But intelligence — human or machine — can’t simply be inserted into workflows; it must be architected into environments. Most

BREAKING: I stopped reading textbooks cover to cover. NotebookLM now teaches me directly from PDFs and notes. Here are 6 prompts that turned documents into lessons 👇

Simple and insightful

As Marc Rubinstein told me this morning, financial services policymakers can only have two of the following three things: - Stability - Competition - Privacy. In the U.S., generally speaking, I think both banks and regulators want a mix of stability and competition (though their

this is huge. ollama is now compatible with the anthropic messages API. which means you can use claude code with open-source models. think about that for a second. the entire claude harness: - the agentic loops - the tool use - the coding workflows all powered by private LLMs