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We knew it couldn’t continue, but we kept hoping.  The NSF drug which propped up the profitability of so many retail franchises for decades, is about to expire.  The product itself has been in high demand by specific customer segments for ages.  It is, per se, a product that meets the needs of those customers.  The problems arose not from the product itself but from a combination of two factors: Banks using NSF fees, features…

At a recent CCO Forum my friend Tony Ross, CCO of Woodforest National bank, shared with the group his leadership rules.  As Tony says, in the Army, we are all leaders.  If two privates are standing together, one of them oversees the other, at least by time in grade.  The idea is, every person makes choices whether to lead or just df=rift along. These rules are based upon rules created by BG (Retired) Jimmy R.…

Economy Decelerating: As COVID stimulus programs ebb the economy will transition from recovery to trendline growth, which we and others recognize as 2% or less. The case for this trendline degradation can be seen from the following three exhibits. First is a graph of average GDP growth in between recessions showing a steady weakening following the last three downturns, from 4.1 % core momentum in the 1980s to 3.5%, to 2.7% to 2.1 % following…