Community Banker articles from November 2001

Community Banker archives from November 2001

In memoriam.
November 1, 2001... The September 11 attack on America has taken the lives of many within the banking industry and in the community of those who serve financial institutions. As friends, neighbors and colleagues, we wish to pay our respects to those whose lives...

What conquers our grief. (front matter).
November 1, 2001... There's a feeling, a new attitude, in Washington these days. People talk slower. They take time to say thank you. They rush home to their children, friends and loved ones. They are more patient in rush-hour traffic. Suddenly, in every home...

Tragic times: bring out the best in bankers.
November 1, 2001... What do you do when a disaster of the magnitude of Sept. 11 happens? How do you respond as leaders in your community? Bankers across the country were asking themselves that question last month, but perhaps none more acutely than those in...

United we stand.
November 1, 2001... In these difficult times for our industry and our country, we all need to dig deep to muster the courage that will propel ourselves, our families and our businesses forward. It is a time when many people emerge as heroes through great acts...

Neighbors helping neighbors. (personal profiles).
November 1, 2001... "Personal Profiles" explores what it means to be a community banker. We're looking for your deeds, your thoughts and your experiences in this space each month. Tell us what you find most rewarding about being a community banker or why you chose...

Terrorism, money laundering, and community banks. (Special Report).
November 1, 2001... The terrorist attacks on September 11 have led the government to focus on what is called "reverse money laundering." Unlike drug dealers who attempt to move large sums of cash through the financial system and into another country, terrorists...

What's new in the federal guide. (nationwide news).(Brief Article)
November 1, 2001... FFIEC/Interagency Policy Statements * Interagency Questions and Answers regarding CRA. * ALLL Methodologies and Documentation For Banks and Savings Institutions. FRB Issuances and Interpretations * Rescission of Fedwire...

FBI says: report suspicious transactions. (nationwide news).(Brief Article)
November 1, 2001... The FBI is asking banks for any information about financial transactions of persons involved in the September 11 terrorist attacks. It has released of names of 19 suspects (see www.fbi.gov), consisting of the dead hijackers and others who are...

Responding to the challenges of today's Community Bank. (professional development).(Brief Article)(Calendar)
November 1, 2001... professional development Responding to the Challenges of Today's Community Bank A merica's Community Bankers is a national leader in professional development. When your bank needs to strengthen the knowledge of its management and...

Federal agencies' guidance following terrorist attacks. (nationwide news).
November 1, 2001... As Community Banker reported last month, banking regulators issued words of reassurance to banks and the general public following the September 11 terrorist attacks, stating that things are, for the most part, business-as-usual. At the same...

Correction.(Brief Article)(Correction Notice)
November 1, 2001... In the October 2001 issue of Community Banker (page 15), three photos were incorrectly labeled as the National School of Business. The captions should have referred to the National School of Banking.

Proposal to let Ginnie Mae securitize conventional loans. (national notes).(Brief Article)
November 1, 2001... Two members of Congress are developing bills to allow Ginnie Mae to securitize conventional mortgage loans. Currently, Ginnie Mae is only authorized to securitize loans backed by the Federal Housing Administration, Veterans Department and other...

FHLBank of New York moves. (national notes).(Brief Article)
November 1, 2001... Following the Sept. 11 terrorist attack, FHLBank of New York has relocated from the World Trade Center to temporary quarters. The new address is 200 Park Avenue, New York, NY 10166-4193. The phone number is (212) 294-1800.

Gramm to retire. (national notes).(Brief Article)
November 1, 2001... Phil Gramm (R-Tex.), 59, announced in September that he will not seek another term as senator. He is noted for the Gramm-Leach-Bliley Act, the most sweeping financial services modernization package since the 1930s. His current term ends in...

Leaders push for increased deposit insurance for retirement accounts. (national notes).(Brief Article)
November 1, 2001... Following recent Senate hearings, ACB chairman David A. Bochnowski has called on Congress to increase federal deposit insurance coverage for retirement accounts held at banks. The current $100,000-per-account coverage is inadequate, he says.

Thacher Proffitt & Wood finds temporary offices. (national notes).(Brief Article)
November 1, 2001... The New York office of Thacher Proffitt & Wood has relocated to 11 West 42nd Street, New York, NY 10036. The phone number is (212) 789-1200. The firm was previously housed in the World Trade Center's South Tower. All employees are safe and...

The goodwill cases: plaintiffs denied justice to date. (Legal Briefs).
November 1, 2001... Five years ago, in United States v. Winstar Corp., the U.S. Supreme Court held that the government had entered into contracts with three acquirers of troubled savings associations, pursuant to which the government had agreed that the...

Compliance corner: defining "consumer" and "customer". (Smart banker: ideas, answers, opinions).
November 1, 2001... Q. What is a "consumer" versus a "customer?" A. A "consumer" is any individual who obtains or has obtained from a covered institution a financial product or service that is to be primarily used for personal, family or household purposes. An...

The price of privacy: what is the actual cost of privacy compliance for community banks of all sizes? What will it mean for the future?
November 1, 2001... July has passed. Your privacy notices have gone out. The deed is done. But what will this mean for your bank next year, when a new round of regulations comes through? Federal regulators have not yet released a cost-benefit analysis for...

America's Community Bankers stronger than ever: bankers band together to rejoin the group that provides strength, service and perspective.
November 1, 2001... Today, there's a group in the banking industry that represents more than $1 trillion in assets, that's growing faster and is stronger than ever before. Which group is making headlines while serving financial institutions of all charter types...

Does your site measure up? Trends in Web site design.
November 1, 2001... Your company's Web site is one of the most important business tools you have. Web sites are essential for customer transactions, communications, marketing, projecting your company's image, and more. That's a lot of information to convey through...

Fee generation strategies: the phenomenal five: a look at how community banks build their fee-income-producing business lines. The top five banking strategies to improve community banks' bottom lines.
November 1, 2001... Editor's Note: "Fee Generation Strategies" is the first in a new series of articles on tactics that are shown to help increase the average community bank's bottom line. Over the next several months we will explore the importance of staff...

What happens when you try to fund mortgages profitably? (investment management).
November 1, 2001... Editor's Note: Three years ago Community Banker looked at the concept of keeping fixed-rate mortgages in portfolio, if we could find a way to fund them profitably. We examined a variety of funding strategies and their potential outcomes under...

Risk management: more than numbers. (money & credit).
November 1, 2001... The topic of risk management has gained a certain cachet in banking circles recently. The Basel Committee on Banking Supervision Capital Accords proposal to add a capital charge based on operational risk has only increased current...

Innovative reverse mortgages help attract, retain customers. (bank solutions).
November 1, 2001... Editor's Note: Bank Solutions is designed to help educate bankers on ACB Partners' programs. To learn more about this month's program, contact ACB Partners at (888) 872-0275 or the Financial Freedom ACB Account Team at (866) 719-8107 or visit...

Large banks exceed small banks' Web capabilities. (technology report).(Brief Article)
November 1, 2001... Large banks are offering an increasing number of online services, but smaller banks are not keeping up, according to a newly released survey of Internet banking sites. In recent years, the functionality of online banking has expanded...

Banks network together against cyber attacks. (technology report).
November 1, 2001... In this post-September 11 world, analysts at the government's National Infrastructure Protection Center (NIPC) have expreeed valid concerns about an upswing in cyber attacks and other information technology-related threats. NIMDA and wtc.exe,...

FFIEC creates Financial Privacy InfoBase. (Web watch: www.ffiec.gov/exam/InfoBase.htm).(Brief Article)
November 1, 2001... The Federal Financial Institutions Examination Council (FFIEC) has developed comprehensive reference and training materials on consumer financial privacy for compliance with the Gramm-Leach-Bliley Act. The FFIEC InFoBase...

What is a cyber attack?(Brief Article)
November 1, 2001... Cyber attacks can take the following forms: * Denial or disruption of computer or telecommunications services; * Secret monitoring of IT systems; * Electronic theft and subsequent disclosure of confidential information; *...

Customers unaware of Bank's investment products. (surveys & trends).(Brief Article)
November 1, 2001... A surprising number of Americans aren't aware that banks sell stocks, bonds and mutual funds, according to a recent poll by Maritz Research. The random telephone survey of 1,005 adults found that 17 percent don't know that banks offer...

How do small business accounts overlap with household accounts. (Ahead of the Curve).(Brief Article)
November 1, 2001... A majority of small business owners use the same financial institution for both business and personal accounts, according to Synergistics Research Corp., that recently released a national survey of 600 small business owners. Among the...

Women lead men in credit card usage. (surveys & trends).(Brief Article)
November 1, 2001... According to a recent study by MarketResearch.com, nearly 76.1 million American women have or use credit cards, as compared with 68.2 million American men. The study left credit card companies asking if they need to improve their marketing...

Real estate vacancy rates soar. (surveys & trends).(Brief Article)
November 1, 2001... Given the plummeting demand for commercial real estate, the Federal Deposit Insurance Corporation recently issued a warning urging banks to review risk management procedures and underwriting terms. Office vacancy rates rose to 10.8 percent...

Small banks' growth outpaces large banks. (survey & trends).(Brief Article)
November 1, 2001... New Federal Reserve data show that growth of small banks' deposits has dwarfed that of larger banks in recent years. From 1995 to 2000, the annual growth rate of small bank assets was 13.1 percent compared with 6.1 percent for the largest...

ACB announces education alliance with RMA. (survey & trends).(Brief Article)
November 1, 2001... To better serve the educational needs of ACB members, America's Community Bankers has complemented its current educational offerings with a strategic alliance with RMA--the Risk Management Association, a group that has been offering financial...

Disaster hits home in a faraway land. (chairman's corner).
November 1, 2001... Two American innocents abroad learned in a very personal way last September of the enormity of the impact of the attack on America. My wife, Ann, and I were in Tokyo representing America's Community Bankers at Nikkin News Service's Special...

Data bank.(Brief Article)
November 1, 2001... financial services online Thirty-one percent of experienced Internet users trust financial institutions with personal data. Forty-six percent of adults still have a major concern about the potential for credit card fraud. ...