Community Banker articles from March 2004

Community Banker archives from March 2004

My corner banks.(front matter)(Atlas Savings and Loan Association)(Bay Ridge Federal Savings and Loan Association)(Column)
March 1, 2004... Banks didn't talk about "promoting financial literacy" back in the 1960s and 1970s when I was growing up in Brooklyn, N.Y. But they certainly did it. Atlas Savings and Loan Association. Lincoln Savings Bank. Bay Ridge Federal Savings and Loan...

Bankers stand tall as community leaders and teachers.(chairman's corner)(America's Community Bankers make financial literacy a priority)(role of US Financial Literacy and Education Commission)
March 1, 2004... Community bankers like to say that we are not only community lenders, we are community leaders, too. But there is another function we have that is equally important. We are also teachers. One of the most important responsibilities we...

Washington's own brand of March Madness.(president's message)(American Community Bankers legislative agenda)(tax exemption of credit unions cause for concern to community banks)
March 1, 2004... For fans of college basketball, the run-up to the NCAA Championship is known as March Madness--a time of anticipation, excitement, and wild surprises. Here in the nation's capital, March Madness takes on a whole different meaning. In the...

Improving the qualifications of directors is key to enhanced FHLBank governance, ACB testifies.(abc news)(Federal Home Loan Banks)
March 1, 2004... J. Edward Norris III, chairman of America's Community Bankers Government Affairs Steering Committee, on Jan. 23 provided the Federal Housing Finance Board with suggestions on enhancing the governance of the Federal Home Loan Banks. "As the...

What's new in the federal guide.(abc news)(Federal Reserve Board and Federal Trade Commission)(summary of regulations)(Brief Article)(Excerpt)
March 1, 2004... Federal Reserve Board and Federal Trade Commission * The FACT Act: Interim Final Rules Office of the Comptroller of the Currency * Corporate Activities, Bank Operations, Real Estate Lending: Final Rule * Visitorial Powers and...

ACB renews Fannie, Freddie, countrywide partnerships.(abc news)(America's Community Bankers mortgage partnerships)(Federal National Mortgage Association)(Federal Home Loan Mortgage Corp.)(Brief Article)
March 1, 2004... In February, America's Community Bankers renewed its secondary mortgage market partnerships with Fannie Mae, Freddie Mac and Countrywide Home Loans Inc. The announcement was made at ACB's National Real Estate Lending Conference and...

Maryland court decision endangers preemption.(abc news)(authority of federal savings associations)
March 1, 2004... America's Community Bankers and four state trade groups have urged the U.S. Supreme Court to review, and ultimately reverse, a troubling state court decision that threatens to undermine the long-established preemption authority for federal...

Spring Management Conference promises excellent speakers, networking opportunities.(acb news)(America's Community Banker 2004 National Spring Management Conference and Marketplace)(Brief Article)
March 1, 2004... With the gorgeous scenery of Hilton Head, S.C., serving as a backdrop, ACB's 2004 National Spring Management Conference and Marketplace will run April 25-28. At last year's Spring Management Conference in Phoenix, an International crowd of...

Responding to the challenges of today's community bank.(professional development)(March 8, 2004 to September 22, 2004)(Brief Article)(Calendar)
March 1, 2004... Executive & Strategic Issues Mutual Community Bank Conference March 8 Government Affairs Conference March 8-10 National Spring Management Conference & Marketplace April...

Snow chairs first meeting of Financial Literacy Commission.(nationwide news)(John W. Snow )(US Financial Literacy and Education Commission)(Brief Article)
March 1, 2004... Jan. 29 marked the first meeting of the Financial Literacy and Education Commission. The commission, which was created as part of the Fair and Accurate Credit Transactions Act of 2003, has been tasked with developing a national strategy to...

Beneficial Savings awards $150,000 to area students.(nationwide news)(Beneficial Savings Bank scholarships in Pennsylvania and New Jersy)(Brief Article)
March 1, 2004... In January, 150 high school seniors in Pennsylvania and New Jersey got a present they weren't expecting. Beneficial Savings Bank awarded each $1,000 to further their college education. "Our bank has always had a high respect for education....

Compliance corner: frequently asked questions about HMDA reporting.(nationwide news)
March 1, 2004... Recent changes to Regulation C will affect Home Mortgage Disclosure Act report information in 2004. In response to these changes, the Federal Financial Institutions Examination Council on Dec. 12, 2003, released several updated Frequently Asked...

Tributes to the Dean of the thrift industry lawyers, Bill McKenna.(Obituary)
March 1, 2004... More than a few readers let Community Banker know that we missed a remarkable story in January, when we ran a brief obituary of William F. McKenna. Widely known as "the dean of the thrift industry lawyers," McKenna had a profound influence on...

'All politics is local' gets Charleroi Federal's vote.(grass roots: Charleroi Federal Savings Bank)
March 1, 2004... Charleroi Federal Savings Bank is nestled in the quaint town of Charleroi in the southwestern part of the great Commonwealth of Pennsylvania. The bank dates its heritage to 1938 and has often been viewed as a window on the community. Service to...

The case for the enhanced mutual holding company.(of mutual interest)
March 1, 2004... The original concept behind mutual holding companies was to give savings institutions the ability to access the equities markets in much the same fashion as any industrial company--that is, in an incremental and well designed fashion. For...

Momentum marketing: keeping your brand on track.(community banks focus marketing through brand management)(list of useful books and other information)
March 1, 2004... Perhaps the greatest challenge in marketing is keeping up the momentum--maintaining a sustained effort over the long haul. This is particularly demanding for community bankers who often contend with limited budgets, time, and staff resources....

Strength in numbers: how community banks are teaming up to fund affordable multifamily housing.
March 1, 2004... Community banks face a dilemma when it comes to affordable multifamily housing loans. While they are supposed to serve their communities and must participate in affordable housing projects to comply with federal regulations, making loans for...

Financial literacy: how adds up to good business.(Cover Story)
March 1, 2004... Helping people understand the fundamentals of personal finance is no easy task, but a golden opportunity lies ahead for those community banks willing to make the effort. To be sure, teaching basic financial topics to customers and...

Always on the case: engaging your staff in bank security.
March 1, 2004... At Alaska Pacific Bank in Juneau, "detective" and "master sleuth" aren't listed on the job descriptions of front-line personnel. But they might as well be. "You never know who might answer the phone and deal with a bomb threat, or who...

Fidelity federal: putting the 'trust' in trust services.(Fidelity Federal Savings Bank)
March 1, 2004... Doug Brash knows the value of face-to-face meetings and how to gain trust from his customers. The senior vice president and head of the trust and investment division at $3 billion-asset Fidelity Federal Bank & Trust in West Palm Beach, Fla.,...

A new law takes shape: a look at Fair and Accurate Credit Transactions.(Fair and Accurate Credit Transactions Act of 2003 )
March 1, 2004... When Congress passed the Fair and Accurate Credit Transactions Act of 2003 in December, many community bankers were ready to break out the bubbly and start celebrating. Others were lamenting the ending of an era when they used what they...

Home-equity-backed securities can help limit extension risk.(investment management)
March 1, 2004... With refinancing activity projected to slow in 2004, mortgage securities may experience significant average life extension. Depository institutions with sizable mortgage holdings should consider securities backed by home equity loans (HELs) as...

Cost-justifying managed security for financial institutions.(business solutions)
March 1, 2004... Securing your financial information assets is no longer just good business sense, Gramm-Leach-Bliley makes it the law. With budget and staff limitations, what is the best way to secure your institution? The obvious method is to utilize your...

Quicker access to the capital markets is now available.(legal briefs)
March 1, 2004... Under Office of Thrift Supervision regulation 12 CFR [section] 563.2(a), absent an exemption, a savings association may not offer or sell its securities unless an effective offering circular (a Form OC) accompanies or precedes the offer and...

Mortgage servicing software program learns Spanish as a second language.(technology report)(Brief Article)
March 1, 2004... Banks may soon be able to operate mortgage servicing software simultaneously in English and Spanish, according to GCC Servicing Systems. The mortgage servicing technology provider in February began beta testing a new bilingual servicing system....

OFHEO outlines barriers to electronic mortgages.(technology report)(Office of Federal Housing Enterprise Oversight)(Brief Article)
March 1, 2004... A paperless mortgage process is coming, but "no one expects e-mortgages to happen overnight," according to a report from the Office of Federal Housing and Enterprise Oversight. The shift to an electronic process would offer lenders many...

Fed offers free online check imaging seminar.(technology report)(Brief Article)
March 1, 2004... The Federal Reserve is offering community bank executives a free online seminar to introduce them to FedImage, a check image management platform. The seminar is designed For all community banks, regardless of asset size, according to David...

Key staff remain a priority for Community Banks, finds Grant Thornton Survey.(surveys & trends)
March 1, 2004... The vast majority of community bank executives (93 percent) list retaining key employees as important to success, according to a survey released in February. The survey from Grant Thornton LLP also found that 58 percent are expecting to...

Mid-size Banks' tech outlays dipped in '03.(surveys & trends)(Brief Article)
March 1, 2004... Technology spending dropped slightly at mid-sized banks in 2003, to 0.26 percent of total assets and 9.1 percent of total overhead, according to a report released in February. The 2 percent drop from the year before followed a 4 percent...

Identity theft tops list of consumer complaints.(surveys & trends)(Brief Article)
March 1, 2004... For the fourth year in a row, identity theft has topped the list of complaints filed with the Federal Trade Commission. Last year, 42 percent of all complaints related to ID theft, up from 40 percent in 2002, according to the FTC's National...

Financial literacy starting points.(bank on it)
March 1, 2004... Creating a financial literacy program For your community? Bankers can tap into a vast array of free or inexpensive resources on the Internet. The list that follows, though far from comprehensive, spotlights some of the best materials out there...