For Businesses, How Do You Pick the Right Bank?

With the recent bank failures, many people and businesses throughout the U.S. are wondering what the future may hold for the banking industry. That’s why we’re talking with Sayee Srinivasan, Chief Economist and Head of Research for the American Bankers Association. Hear what he had to say about the state of the banking sector, the importance of micro vs. macro trends, why businesses should build a relationship with their bank, FDIC coverage, and much more.

Topics Include:

00:00 – Welcome, Sayee Srinivasan
00:58 – Introduction to the American Bankers Association
05:25 – The economy based on banking data
07:39 – Micro vs macro trends
09:27 – Should we be worried about the banks?
11:08 – The state of the banking system
12:11 – Building a relationship with your bank
14:32 – Questions you should be asking
16:32 – Regulatory requirements
17:56 – Finding data on banks
19:12 – FDIC coverage
23:14 – Competitive non-bank entities
26:19 – Interest rate outlook
30:53 – Wrap up

Have a guest or topic you’d like to suggest for the show? Submit your ideas at https://pages.paychex.com/business-podcast-requests.html.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.