Banking Articles

SEC Seeking Public Comment on Dodd-Frank Financial Literacy Study

January 31, 2012 – 3 views

The Securities and Exchange Commission is requesting public comments on financial literacy and investor disclosure issues that it is studying as part of a review mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Full Story 

New HARP Guidelines Leave Jumbo Mortgages Out in the Cold

January 24, 2012 – 3 views

Once again there is excitement in the mortgage industry because of the new HARP 2.0 guidelines which were released on November 15, 2011. For the most part the original HARP which was passed in 2009 as the Making Home Affordable plan or the Obama Refi plan has been a failure. Very few people were able to qualify for the program and those who did qualify were only able to refinance at a lower rate and did not see the actual principal balance of their loan reduced. Full Story 

EEOC ENFORCEMENT OF AMERICANS WITH DISABILITIES ACT

January 17, 2012 – 3 views

QUESTION: WHY SHOULD MY FINANCIAL INSTITUTION CARE ABOUT THE EEOC "FINAL RULE" IMPLEMENTING THE AMERICANS WITH DISABILITIES ACT AMENDMENTS ACT? ANSWER: AVOIDING DISABILITY DISCRIMINATION IS THE RIGHT THING TO DO, IS GOOD FOR BUSINESS, AND NONCOMPLIANCE WILL LEAD TO LITIGATION! Full Story 

Where's the Promised Government Loan Money (HARP) for Distressed Homeowners?

January 10, 2012 – 12 views

The significant changes in HARP eligibility requirements announced by President Obama in October 2011 have led mortgage industry insiders to dub it HARP 2.0, even as the history of HARP is little more than two and a half years old. The Mortgage Bankers Association has previously estimated that $900 billion in mortgages will be originated in 2012 but with HARP 2.0 fast becoming effective, this number will certainly rise. Unfortunately, HARP was not designed to help homeowners already in foreclosure proceedings or in danger of being foreclosed upon. Full Story 

Fair Labor Standards Act Exemptions

January 3, 2012 – 13 views

QUESTION: SHOULD MY BANKING EMPLOYEES BE CLASSIFIED AS "LEARNED PROFESSIONALS" FOR EXEMPTION PURPOSES, OR NOT? ANSWER: YOUR BANKING EMPLOYEES ARE NOT ENTITLED TO OVERTIME PAY UNDER THE FAIR LABOR STANDARDS ACT IF THEY ARE PROPERLY CLASSIFIED AS "LEARNED PROFESSIONALS." Full Story 

Is Green Lending Your New Mortgage Niche?

December 27, 2011 – 9 views

The hot topic in real estate is green homes. People are building, buying, and remodeling existing homes to make them more energy efficient, healthy, and have less of an impact on the environment. While it is a fairly recent trend in housing, it started in commercial building more than two decades ago as owners looked for ways to cut rising utility bills. The field quickly grew beyond a concern with energy to incorporate materials, techniques, and products that conserve scarce resources, recycle used materials, and avoid the use of toxic ingredients and processes. As better and cheaper products and materials became available, green or eco-friendly building spread to residential construction. Full Story 

Bank Controls Lacking, Regulation Insufficient

December 20, 2011 – 15 views

Huge bank losses demonstrate that past regulatory efforts failed FSOC says banks must focus on ethical controls and increased integrity The fallout and real costs of banking crisis still being assessed Full Story 

Cybercrime - No One Is Immune

December 13, 2011 – 17 views

Senior managers need to take cybercrime more seriously. According to PricewaterhouseCoopers' (PwC) economic crime report, Cybercrime: Protecting Against the Growing Threat, businesses face serious threats from cybercriminals, from both within and outside their organizations. Full Story