Recently added articles from Northwestern Financial Review:
Putting innovation to work
Aug 15, 2008; Kraft, Mike ... As a college student studying architecture (many years ago), I learned the value in having heroes. Frank Lloyd Wright, Louis Sullivan and even Frank Gehry (his buildings look like balls of tin foil) were popular heroes. When architects plan vacations we include pilgrimages to notable buildings ...
Basic economics
Aug 15, 2008; Bengston, Tom ... Economist Thomas Sowell makes a salient point about the function of pricing in his book "Basic Economics: A citizen's guide to the economy." When the number of people who want a product exceeds the supply, pricing reduces the number of people who get access to the product, he explains. The ...
Checking-related products create value
Aug 15, 2008; Paine, Marc ... Banks continue to be challenged by the uncertainty of interest rates and a highly competitive marketplace. Many are employing new strategies to shore up traditional sources of income - most common of which are checking account products and services. The checking account remains the ...
Revisit your compliance program again, and again!
Aug 15, 2008; Fassbinder, Maureen ... For financial institutions, business is never static. Regulations change, regulatory focus changes, and most importantly, your institution's focus may have changed. Consequently, when a compliance program has been up and running awhile, it's important to regularly revisit risk assessment ...
E-check networks key for long-term success
Aug 15, 2008; Hokans, Chuck ... Paper check processing, once the clearing standard nationwide, is slowly becoming a thing of the past. As electronic exchanges grow, more banks are seeing then-need for paper clearing alternatives diminish. An example can be seen in the Federal Reserve Bank, which continues to close check ...
PIN-pointing advantages
Aug 15, 2008; Ghiglieri, James Jr ... The U.S. payments industry continues to debate which debit card authorization method - PIN or signature - is superior in terms of both cost and security. A 2007 Consumer Payments Survey by Gartner® Inc., indicates consumers prefer PIN over signature, regardless of the rewards issuers offer. The ...
Set yourself up to adapt to the future
Aug 15, 2008; Anonymous ... By Precision Computer Systems Your customers are constantly driving change through increased demand for merchant capture, mobile banking and many other services. Mounting regulatory and market pressures simply add to the challenge. Older generation core banking systems often struggle to ...
Consider alternative method for proxy distribution
Aug 15, 2008; Kruszka, Jessica ... Beginning July 1, 2007, corporate issuers were given a choice on how proxy materials may be distributed to their shareholders. A summary of the amendments to the proxy rules resulting in this change and related guidelines are described in the SEC Release 34-55146 - Internet Availability of Proxy ...
Fed adopts final Reg Z changes
Aug 15, 2008; Anonymous ... The Federal Reserve Board on July 14 approved a final rule for home mortgage loans to better protect consumers and facilitate responsible lending. The rule prohibits unfair, abusive or deceptive home mortgage lending practices. The rule also establishes advertising standards and requires certain ...
Bank histories can be effective public relations vehicles
Aug 15, 2008; Hilgert, Jacqueline ... The approach of a significant anniversary often spurs a bank to consider documenting its history. A centennial or sesquicentennial seems a natural time to share with employees, customers, shareholders, and the community, the story of how the bank came to be and the ways it has adapted in order ...
Beige Book notes slowing economy
Aug 15, 2008; Anonymous ... The Federal Reserve reports economic activity has slowed, characterizing the economy in Chicago as "sluggish," in St. Louis as "stable" and in Minneapolis as growing slightly. The Fed's Beige Book report, released July 23, says consumer spending was reported as sluggish or slowing in nearly all ...
Housing rescue package becomes law
Aug 15, 2008; Anonymous ... President Bush signed H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act of 2008, on July 30. The legislation provides mortgage refinancing assistance, which proponents say will keep at least 400,000 families from losing their homes. The legislation expands FHA financing so ...
Bill would make LLC option more attractive for banks
Aug 15, 2008; Anonymous ... More banks are likely to consider organizing as limited liability companies if legislation proposed by Sens. Orrin Hatch (R-Utah) and Blanche Lincoln (D-Ark.) becomes law. The senators introduced legislation to allow state-chartered banks operating as LLCs to be subject to just one level of ...
Is ethanol a boon or drain on our economy?
Aug 01, 2008; Byrge, Joshua A; Kliesen, Kevin L ... Renewable energy In 2005 and 2007, two pieces of energy-related legislation with potentially far-reaching consequences became law. A key feature of these bills was a federal mandate to substantially increase the production of ethanol over the next two decades. These bills were aimed at ...
In Memoriam ... Daryl D. Barklow
Aug 01, 2008; Anonymous ... * Daryl D. Barklow died June 3; he was 63. Barklow was chairman and CEO of East Dubuque Savings Bank, and its holding company East Dubuque Bancshares, Inc. Barklow was serving as chairman of SHAZAM at the time of his death. In 1991-92, he was chairman of the ...
Roundtable banks and JA team up on financial literacy
Aug 01, 2008; Anonymous ... The Financial Services Roundtable kicked off its seventh annual community service celebration on July 1 in Maplewood, Minn., at Junior Achievement's "BizTown." The event featured Financial Services Roundtable leadership, as well as more than 100 students in grades four through ...
The art of discretion
Aug 01, 2008; Bengtson, Tom ... We live in a world where thoughtless people share the intimate details of their lives in cell phone conversations loud enough for anyone within earshot to hear. Newspapers publish peoples' salaries, and young women and men commonly walk around with their underwear showing. Let's face it; this is ...
Bridges leaving Franklin Bank of Minneapolis
Aug 01, 2008; Anonymous ... Dorothy Bridges is leaving Franklin Bank of Minneapolis before the end of the year. Bridges, who has been president and CEO of the bank since April 1, 1999, said she is leaving to pursue other interests, which she declined to specify. David Reiling, CEO of Sunrise Community Banks, which ...
ICBM unveils new brand in time for convention
Aug 01, 2008; Anonymous ... The Independent Community Bankers of Minnesota has developed a new logo and brand, as it prepares to meet for its annual convention, August 7-10 in Alexandria. "Following several months of discussion on the association's core values and strategic direction with our members, the ICBM ...
Community banks eye emerging markets
Aug 01, 2008; Anonymous ... Nearly half of the community banks intentionally reach out to serve consumer groups in underserved markets or those who may bank outside of the financial mainstream of a federally insured depository institution, according to results of a survey conducted by the Independent Community Bankers of ...