Connect the Dots and Win Customers!
Earlier, the American Bankers Association, in a press release, stated that a new "ABA SURVEY: shows that " CONSUMERS PREFER ONLINE BANKING " But before the online banking community starts popping their champagne, (online banking is more profitable) I thought now might be an opportune time to segue to the results of another study , conducted by ACI Worldwide: 49% of Consumers Worldwide Would Switch Banks if Victim of Card Fraud "49% of consumers across eight countries [more...]
Date: 2009-09-22 22:33:00
Blog posts
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Videos
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The Garrett, Watts Report (September 5, 2009)
To Our Clients, Colleagues and Friends, Bank lawyer Gary Findley predicts the next FDIC special assessment will be 8 bps, and that’s going to really hurt bank earnings. For a little $100 million community bank, that’s $80,000, which is serious money. We can’t think of a better attorney for community banks, and when he speaks, we listen. [more...]
Date: 2009-09-04 17:56:20
Jim Welsh on Stocks, Gold, Dollar, Bonds, ETFs
E. James Welsh of Welsh Money Management, is the author of The Financial Commentator, a monthly newsletter ... %, but their capital base is being squeezed unmercifully, as they write off bad loans and increase loan loss reserves. Unfortunately, large banks, regional banks, and community banks will be forced [more...]
Date: 2008-11-13 11:29:23
How I beat the market
For my first job out of college, I was hired as a fund manager. Sort of ... and community-based banks and S&Ls. Certificates of deposit with community development credit unions ... , I would contact the banks, requesting their latest CRA statement -- the legally required report [more...]
Date: 2008-11-17 00:25:51
Bank local
“Buy local” works with food, so why wouldn’t “bank local” work with money? ... in hand, crossed the street and opened accounts at Oak Valley Community Bank. “We’ve had a net inflow ... the past few days, but, like Courtney, they prefer not to speculate why. Community banks credit [more...]
Date: 2008-10-02 01:44:14
The Challenge Is Prices Got Stupid
The Daily Astorian reports from Oregon. “An increasing number of homeowners in Clatsop County are falling behind on their mortgage payments and ... Joe Schulte, VP of Compass Community Bank in Seaside, said subprime loan programs were available ... as the loan criteria change each day. ‘Loan officers have to be ahead of the curve,’ he said. ‘There’ [more...]
Date: 2008-10-07 17:26:52
CA Lawmakers On The Bailout
There are conflicting reports on a bipartisan deal on the Wall Street bailout, ... and individual constituents rely. The independent community of savings banks and credit unions are safe, sound ... in lower profits, slower growth, and higher credit standards for potential borrowers. For those [more...]
Date: 2008-09-25 20:24:37
Car too expensive? Bank offers loans for bikes
Plenty of Oregonians take out a loan to buy a car. But what if you spend more time in a bike seat than behind the wheel? ... ? One local bank has an answer. Unitus Community Credit Union recently started issuing bike loans ... she explained. “The Bicycle Transportation Alliance, Sellwood Cycle Repair, Seven Corners Cycles and Sweetpea [more...]
Date: 2008-09-24 19:06:00
Community Activists Continue to Exacerbate Housing Crisis
The community activist types — like Barack Obama — who helped bring about our financial crisis by using Jimmy Carter’s insane Community Reinvestment Act to terrorize banks into making bad loans based on race are still causing havoc. IBD reports ... Assistance Corp. of America, makes a good living shaking down banks for loans to deadbeat borrowers [more...]
Date: 2008-11-20 17:41:00
Community Activists Continue to Exacerbate Housing Crisis
The community activist types — like Barack Obama — who helped bring about our financial crisis by using Jimmy Carter's insane Community Reinvestment Act to terrorize banks into making bad loans based on race are still causing havoc. IBD reports ... Assistance Corp. of America, makes a good living shaking down banks for loans to deadbeat borrowers [more...]
Date: 2008-11-20 17:31:54
Community Banks Still Providing Top Interest Rates
Back in early September (before the really bad economic news started rolling in) ... to increased loan underwriting standards, making it more difficult to borrow money at the big banks, most of whom are stuck with bad balance sheets from bad loans. Also, the personal finance blogosphere [more...]
Date: 2008-12-27 17:29:43
David Duke to The NY Crooks — STUFF IT!
October 1, 2008 in Economy | Tags: Bailout, Barney Frank, Crisis, Derivatives, Federal Reserve, Financial Burden, Home Ownership, Meltdown, ... credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to “meet the credit needs” of “low-income, minority, and distressed [more...]
Date: 2008-10-02 03:35:12
Recession or Depression? It Might Depend On Where You Live
In a recent post, I found that the banking crisis was far from uniform within the U.S. ... an economic rebound. Banks also reflect the health of the communities around them. Home owners, real estate developers, and businesses that cannot pay off loans will also be constrained [more...]
Date: 2008-10-19 13:48:24
Ethical Subprime Lenders
As the financial crisis spread this fall, conservatives attempted to cast blame on the Community Reinvestment Act (CRA), a 1977 fair banking bill ... Credit Union. In California, the news on housing may ... like an advertisement but it’s the truth. We don’t do credit scoring; we do it after the fact in order [more...]
Date: 2008-11-20 18:35:10
De-leveraging the Children of Wall Street
submitted by James Baker Welch, VP of Rothschild Investments One of the most stunning facts of the 2008 Financial Melt-down has been the wholesale ... regulatory agencies to determine if the institution has met the credit needs of its entire community. 1 The CRA began to compel banks to underwrite less credit-worthy mortgage loans in order [more...]
Date: 2009-01-15 15:40:18
Appraisal and Ratings Fraud Documented
From Mario Kenny — see comments posted to blog As we have stated repeatedly, the logistics were simple: (a) ... community-based orgarizations that promote access to basic banking services, including credit and savings ... NRSROs’), more commonly known as credit rating agencies (”CRAs”), substantially contributed [more...]
Date: 2008-12-01 15:58:17
How Subprime Borrowing Fueled the Credit Crisis
By Shah Gilani Contributing Editor Money Morning/The Money Map Report Once upon a time, generous-minded social engineering resulted in the Community Reinvestment Act, which forced banks to lend [more...]
Date: 2009-01-12 23:52:27
NEWS WIRE: A Risk Worth Taking: Many Ethical Subprime Lenders Still Manage to Make Plenty of Money
Source: Newsweek. Original news wire here. November 24 - In recent months, ... reported a USD 1.4 million pretax profit. Community-development banks, credit unions and other [more...]
Date: 2008-12-11 05:01:40
The Wall Street Journal on ACORN and Obama
So, this campaign has been going on for almost two years now, and news of the connection between ACORN and Illinois Sen ... lenders to make home loans on easy terms, conducting "strikes" against banks so they'd lower credit ... had been "community organizers" -- like Barack Obama. Too bad they aren't like that any more. Mr. Obama's [more...]
Date: 2008-10-14 18:07:20
"Minorities Crashed The Mortgage Market" - As Long As Bush Is Blamed This Is Accepted
AJC: Park Place South, once touted by President Bush, has left some first-time buyers strugglingNY Times: ... that the "Community Reinvestment Act" was a government arm twist upon banks to force them to make bad loans [more...]
Date: 2008-12-27 13:41:00
Blaming the Wrong Borrowers
Media Matters weighs in on the topic we wrote about Tuesday on TWI — the fact that blaming low-income and minority borrowers for the housing crisis ... the Community Reinvestment Act, an anti-redlining law, by saying it forced banks to make bad loans ... in general. I believe it is very important to make a distinction between the two. Most of the loans [more...]
Date: 2008-10-01 12:42:54
When you should use a credit repair agency.
Credit has become a very important part of peoples live in todays age. If you have bad credit you are familiar with having closed doors to loans, bank cards, credit cards, car financing and... Writers Wanted: Join Our Blogging Community Today! [more...]
Date: 2009-09-28 18:57:28
DrumBeat: June 22, 2008
You. Will. Not. Be. Able. To. Get. Food. - report on trends You. Will. Not. Be. Able. To. Get. Food. Need this be spelled out any more plainly? ... period is soon to be upon us -- be prepared," Bob Janjuah, a credit strategist for the Royal Bank of Scotland, wrote in a report that sent shockwaves through the global financial community. Janjuah [more...]
Date: 2008-06-22 13:52:27
Cara's Commentary & Community Chat, Fri., Oct. 3, 2008, 9:00am ET
With the unwinding of the humungous bank-created credit default swap market, it appears that no major bank is safe, ... . ADDENDUM When I say that the credit ring is broke, I mean that the entire financial system ... , including in testimony to Canada’s securities regulators:As a Free Market Patriot, I believe [more...]
Date: 2008-10-03 14:15:38
Housing in O.C. beach towns slumps, sales off 28%
Analysis of MDA DataQuick’s November report shows the county’s beach-close communities are clearly being challenged by a credit crunch and a ... rents? 30-year mortgage at 37-year low CA banks drop protection against bad loans Mortgage aid scheme a failure Bad house, car debts mount in O.C. [more...]
Date: 2008-12-22 08:24:51
Bank of Up Yours America
This really bothers me. I still do work for a few clients, mostly ESL folks who need help with letters and other necessary communications. Let’s call this guy Pham. Pham just spent six months jumping through hoops trying to get his mortgage company to refinance his house so he could get a lower rate. Back and forth the faxes and letters went. The final stack of documentation demanded was literally six inches high. I know because I saw it today when he dropped it all off. [more...]
Date: 2009-09-09 01:15:18
Group Action!!!! Now There’s an Idea! Group negotiates en masse with lenders
Submitted on 2008/12/14 at 7:46pm Community leaders in Pacoima and other northeast San Fernando Valley areas have organized more than 500 Latino immigrant families to negotiate with banks as a group rather than individually. By Jessica Garrison L. A. Times December 8, [more...]
Date: 2008-12-14 22:59:36
Invest in Community Financial Institutions
By Rowan Wolf Congress approved the release of the remaining $350 billion in TARP funds to address the financial meltdown ... banks and credit unions, and not into big finance. On January 6th David Goldman calculated that thus [more...]
Date: 2009-01-17 14:35:02
Invest in Community Financial Institutions
By Rowan Wolf Congress approved the release of the remaining $350 billion in TARP funds to address the financial meltdown ... banks and credit unions, and not into big finance. On January 6th David Goldman calculated that thus [more...]
Date: 2009-01-17 14:36:27
HOUSE SAYS NO: BRING ME THE HEAD OF BARNEY FRANK
The U.S. House today rejected an historic $700 billion bailout of Wall Street despite legislative leaders’ appeals to rank-and-file members that ... qualify for a loan, F&F would make sure the banks had access to the money to make that loan, cheap ... incomes, fewer assets or less-solid credit. Barney and friends used the regulations of the Community [more...]
Date: 2008-09-29 18:38:19
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