Tax Credit Professionals to Gather to Explore New and Innovative Community Development Issues and Practices

December 7th, 2011 by Bank Loan | No Comments | Filed in Bank

San Francisco, Calif. (PRWEB) December 06, 2011

Novogradac & Company LLP will bring together hundreds of new markets tax credit (NMTC) professionals for its annual New Markets Tax Credit Conference. The event, to be held January 26-27, 2012 at the Hard Rock Hotel in San Diego, Calif., will serve as a forum for group discussions, allowing program participants to add to and improve on their industry knowledge. Conference-goers, from NMTC veterans to program newcomers, will dive into an exploration of industry issues, discover new and innovative ways to develop projects in a fluid environment, analyze legislation, government regulation and IRS guidance and have the opportunity to refine their technical skills, all during the course of the two-day conference.

This event is designed to increase knowledge and deliver new strategies, and it will provide a strong foundation on which to build projects as well as introduce participants to new industry faces, says Owen Gray, conference chairman and partner in Novogradac & Company LLPs San Francisco office. Now is the best time to meet and mingle with NMTC professionals. With all of the uncertainty surrounding the federal deficit and looming cuts, nothing is more important than to present a strong front and increase understanding and awareness of the program.

This years conference covers a host of new and timely issues, including pairing the NMTC with other tax credits and structuring deals. Novogradac & Company has crafted a two-track agenda that uncovers the very latest project opportunities. Panel sessions will feature information critical to project planning, including how to attract investors to deals and how to make QLICIs of less than $ 5 million work. Sessions will examine credit pairings through a close look at Burgess BioPowers pairing of NMTCs with renewable energy tax credits and an examination of NMTC and historic tax credit transactions. Other hot topics include working with not-for-profits on NMTC projects, some lenders lack of interest in NMTCs and Year 7 unwinds.

Additionally, the conference boasts a line-up of the industrys elite. Conference panelists, prominent experts in the field of community development, will break into comprehensive pieces the latest industry information and will help facilitate the networking necessary to get deals done. Along with the keynote luncheon and two networking breakfasts, attendees can take part in a networking reception that will be held Thursday, January 26 from 5 p.m. to 6:30 p.m.

The conference will also feature a pre-conference workshop: NMTC 101: The Basics to be held Wednesday, January 25, 2011. Separate registration is required and additional fees apply.

The New Markets Tax Credit Conference is co-hosted by Dudley Ventures, Holland & Knight, Nixon Peabody LLP, PNC Bank, SNR Denton, Squire Sanders & Dempsey and U.S. Bank. Sponsors include Bryan Cave LLP, Capital One, ClearEdge Power Inc., Coblentz Patch Duffy & Bass LLP, Future Unlimited Law PC, Ginsberg Jacobs LLC, Husch Blackwell LLP, JPMorgan Chase, KeyBank, Lane Powell, Locke Lord Bissell & Liddell LLP, Polsinelli Shughart LLP, Smith NMTC Associates LLC, Strategic Development Solutions, United Fund Advisors and Wells Fargo.

Conference details and the complete conference agenda can be found at http://www.novoco.com/events/nmtc/san_diego/index.php

Novogradac & Company LLP, a national certified public accounting and consulting firm headquartered in San Francisco, Calif., is consistently named by Accounting Today and Inside Public Accounting as one of the top 100 accounting firms in the country. Inside Public Accounting also named the firm as one of the 25 best managed accounting firms in 2010 and the San Francisco Business Times has recognized it as one of only five companies that for five consecutive years has made its list of the Fastest Growing Companies in the Bay Area.

Novogradac & Company LLP has its headquarters in San Francisco, Calif., with offices in metro Atlanta, Ga., Washington, D.C., Detroit, Mich. and Kansas City, Mo., as well as in Austin, Texas; Boston, Mass.; Dover, Columbus and Cleveland, Ohio; Portland, Ore.; New York, N.Y.; and Long Beach, Calif. The firm maintains clients in a broad range of industries with major emphasis in the real estate sector, providing publicly and privately held national and multinational enterprises with a full spectrum of audit, tax, valuation, trust and litigation support, computer consulting and general consulting services.

For more information about Novogradac & Company LLPs New Markets Tax Credit Conference, call Jane Bowar Zastrow at 415.356.8034, or email at jane.zastrow(at)novoco(dot)com.

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Trintech Sponsors The Hackett Group 2011 European Best Practices Conference in London

November 9th, 2011 by Bank Loan | No Comments | Filed in News

Dallas, TX / London, UK (PRWEB) September 27, 2011

Trintech is pleased to be sponsoring the Hackett Group 2011 European Best Practices Conferences entitled ? Managing Global Growth and Economic Uncertainty. The Annual Conference, to take place in London, October 19-20, showcases the experiences of senior business executives as well as insight from The Hackett Group’s more than 4,000 benchmarking engagements and their work with more than 2,700 leading businesses.

To learn more about the Hackett Group’s Conference, go to the Conference Agenda.

This unique event provides numerous ways to learn from others’ experiences, drawn from a wealth of case studies and ample opportunities to network with colleagues. Practitioners will share their business process improvement initiatives and how the resulting processes, delivery models and technology capabilities are paying dividends in helping their companies create competitive advantage.

“The Office of the CFO does not have the time or bandwidth to manage the growing burden of compliance and governance of the organization?s financial transactions. To be world-class the CFO?s team must steer the organization strategically through these tough economic times? commented Tony Bethell, Trintech Vice President, EMEA. ?Trintech?s solutions enables the CFO and their team to deliver best-in-class ?Last Mile of Finance’ processes whilst providing both real ROI and improved visibility and control to manage the business.”

The Hackett Group is a global strategic business advisory, operations consulting and finance strategy firm. They are a leader in business best practices, business benchmarking, and transformation consulting services including strategy and operations, working capital management, and globalization advice.

About Trintech:

Trintech is the leading global provider of integrated software solutions for the Last Mile of Finance. From the time a transaction occurs to the time financial statements are issued, Trintech?s innovative Unity Suite automates data collection, account reconciliation, financial close management, financial reporting, XBRL, and financial control testing. As a result, our 600 clients and 100,000 users worldwide benefit from an enterprise wide view into critical financial processes, and are able to increase efficiency, improve visibility, shorten cycle times, lower costs, and reduce risk.

Trintech clients include 50% of the Fortune 50 and nearly 25% of the Fortune 500 representing retailers, manufacturers, financial institutions and healthcare providers globally. Trintech clients include Google, Microsoft, RR Donnelley, Regis Corporation, Walmart, O2, Blackstone, BAE Systems, HSBC and Toyota Financial Services. For more information on how Trintech can help you transform your Last Mile of Finance, please contact us online at http://www.trintech.com.

Follow Trintech on Twitter: @TrintechInc – Like Trintech on Facebook: TrintechInc.

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strands pfm,strands pfm november 2011

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TaurusQuest Secures ISO 27001 Certification for Information Security Practices

October 26th, 2011 by Bank Loan | No Comments | Filed in News

(PRWEB) September 29, 2011

TaurusQuest secures ISO 27001:2005 accreditation for information security practices from TUV SUD of Germany.

As a leader in preparing financial statements in XBRL and iXBRL formats for regulatory filings, with more than 80,000 filings in the last six years in United States and United Kingdom, TaurusQuest handles price sensitive information of public corporations before such information is made available in the public domain. TaurusQuest also provides accounting services, legal services and other business processes which require high level of security.

TaurusQuest has in place necessary arrangements to secure the privacy and confidentiality of information handled through a set of policies and practices governing its premises, technology infrastructure, people and work flow processes. TaurusQuest?s delivery centers are restricted to authorized staff only and are subject to a 24/7 camera surveillance. Work stations do not permit local storage of data and do not permit writing to any device such as CD/DVD, USB flash drives etc. The network infrastructure is fully protected by a state-of-the-art firewall to prevent unauthorized intrusion or operation from outside the network.

Recently these information security management practices of TaurusQuest were evaluated by TUV SUD of Germany and certified to be in compliance with ISO 27001:2005 standards. The certification validates the information security management practices of TaurusQuest.

Suresh Illath, Vice President Service Delivery said ?our EDGAR/XBRL services business handles stock price sensitive information (yet to hit the public domain) of more than 2,500 businesses. In our accounting services and legal services business information security is also of paramount importance. We place great emphasis on our information security practices. We are delighted our policies and practices have met the ISO standards. This accreditation further reinforces our clients? confidence in us?

About TaurusQuest: TaurusQuest Services Private Limited is a provider of outsourced management of business processes in accounting and legal services. TaurusQuest and its subsidiary DataTracks are leaders in converting financial statements into XBRL and iXBRL format for regulatory filings. TaurusQuest has two delivery centers in Chennai and offices in New York and London.

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The Mpower Group Conveys Next Practices Innovator Award to Lamar Chesney as Executive who Elevates the Sourcing and Procurement Role

July 5th, 2011 by Bank Loan | No Comments | Filed in Bank

Oak Brook, IL (PRWEB) November 12, 2010

The Mpower Group is pleased to announce the inaugural Next Practices Innovator, Lamar Chesney, EVP and Chief Procurement Officer for SunTrust Bank. Mr. Chesney is a seasoned financial professional with nearly forty years of diversified business experience as a senior executive in the financial services, manufacturing, audit services, educational, transportation, professional services, consumer products and energy industries. His career has spanned some of the world’s finest brands including, Marsh & McLennan Companies, Mirant Corporation, Delta Air Lines, and The Coca-Cola System.

Mr. Chesney is a noted thought leader and presenter across the United States on diverse business topics.????Mr. Chesney has the further distinction of being named 2010 Keynote Speaker at Aberdeen Group’s Chief Procurement Officer (CPO) Summit.

Aberdeen’s Chief Procurement Officer Summit is the premier event for global procurement executives to learn, network, and discuss the strategies needed to extend the broad transformation of their organizations. “This year’s event offers our most comprehensive, industry-leading roster of presenters yet: true visionary thinkers and executive-level presenters who are ready to share their strategies for success,” says Andrew Boyd, President, Aberdeen Group.

Next Practices Innovators are a distinct group of professionals singled out as leaders in Strategic Sourcing and Supply Chain Management. Whether through trial-by-fire or groomed at the top universities, the executives awarded this distinction run some of the most successful supply chains in the world. These men and women create differential value for their companies by pushing the boundaries of our function; what these men and woman are doing today, the rest of us will be aiming for in the future. As a result of the success they bring to their companies, they have raised the level of our function immeasurably. For that we recognize them. The purpose of this award is to single out and take a peek into the minds of these leaders and visionaries in order to perhaps learn a few things and further the success of our own careers.

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New Report Strategies and Best Practices of U.S. Community Banks Published By MarketsandMarkets

April 5th, 2011 by Bank Loan | No Comments | Filed in Bank

New Report Strategies and Best Practices of U.S. Community Banks Published By MarketsandMarkets

The U.S. currently has more than 6,000 community banks with over 50,000 branch locations across the nation. ‘Strategies and Best Practices of U.S. Community Banks’ is a market research study designed specifically to identify the current and the future role of community banks in the U.S. financial market. The report focuses on identifying the new opportunities in the community banking sector as well as the growth strategies of the key community banks.

Browse in-depth TOC on Strategies and Best Practices of U.S. Community Banks
http://www.marketsandmarkets.com/Market-Reports/Community- Banking-186.html

Community banks have seen their share of deposits dwindle from 33% in 1992 to 12.4% in 2009. However, the economic recession proved to be a boon for community banks, as customers lost faith in large financial institutions. The ‘too big to fail’ theory has failed, and so consumers are moving their deposits back to community banks. It is the right time for community banks to capitalize on this shift and put the right programs in place to accelerate their success.

In the current phase of economic recovery, community banks are seeking alternatives that are cost effective and faster to implement. Internet banking, mobile banking, and remote deposit capture services play an important role in enabling community banks to better serve their customers and reach their target segment 24/7. The loss of trust and confidence in big banks, and the changed perception of U.S. consumers, are the major factors driving the growth of community banks in the U.S.

Key Insights

Community banks are primarily targeting small businesses, as this profitable segment offers a high ROE of 35%.

Community banks are introducing stronger credit risk management systems and are also hiring experienced persons to overcome their lack of infrastructure and experience required to deal in commercial and industrial (small business) loans.

Use of business intelligence/analytics tools to distinguish between profitable and non-profitable consumer segments will help community banks compete effectively with large banks.

Community banks are bundling their products and services to cross-sell and up-sell products and services to small businesses.

Scope of the report

Strategy Formulation: The goal of this section is to provide a schematic of the marketplace we are studying so that report users can determine their competitiveness and positioning in the market. Through our deep understanding of the financial services industry we will size the market, identify the trends and drivers, and develop the right framework for strategy formulation that will help report users measure their share and develop strategies to sustain or improve their market position.

Business Model: The goal of this section is to identify the business models that already exist. FIs know that although the model exists it might not work for them because of a variety of factors. A new market may look enticing but if they cannot optimize the business model they are bound to fail. Each report carefully studies the business models already in the market. The bottom line is we help FIs understand how to make money.

Vendor Selection: The goal of this section is to profile companies supporting the market we are studying. The choices can be overwhelming. We profile the top vendors and get the perspective of other users to help you make the best decision for your financial institution. Every report includes in depth reviews of the top vendors.

MarketsandMarkets (M&M) is a global market research and consulting company based in the U.S. We publish strategic advisory reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services.


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Financial Institutions Urged to Examine EEO Practices Proactively in Light of Frank-Dodd

October 17th, 2010 by Bank Loan | No Comments | Filed in News


Providence, RI (PRWEB) September 1, 2010

Since 2007, the United States economy has experienced some of the most trying times since the Great Depression. In the last three years trillions of dollars of wealth have been wiped out due to the declining stock market, millions have lost their homes due to a housing crisis, and millions more have lost their jobs as the world sinks into a global recession. In an effort to correct the serious imbalances that some believe have caused this condition, Congress has passed the Frank-Dodd Financial Reform Act. The Act focuses on oversight, and establishes some new committees and councils. The Consumer Financial Protection Bureau has been established within the Federal Reserve. A Financial Services Oversight Council has also been created to serve as an early warning detection system for storms brewing in the markets.

But there is an aspect of the financial reform act that has largely been overlooked. It mandates that every federal finance agency must establish an Office of Minority and Women Inclusion. According to the bill, the goal is to “ensure equal employment opportunity and racial, ethnic and gender diversity.” At least twenty federal agencies are expected to be affected by this, including the Federal Reserve. Existing offices or diversity programs must be replaced by January 20, 2011.

Many think that this measure will eventually extend to private financial institutions. The financial services industry is no stranger to employment discrimination claims. Nearly all of the major players in this sector have gone through EEOC investigations, single- or multi-plaintiff discrimination claims, or class action litigation.

Because of this, it’s critical to take a proactive approach. Employers in the financial services sector should begin to take a hard look at their hiring, promotion and training practices, and their compensation systems. Even if the government doesn’t require every private-sector firm to have an Office of Minority and Women Inclusion, reviewing employment decisions with respect to equity is an essential part of employment litigation risk management.

The Equal Employment Advisory and Litigation Support Division of MCG is uniquely positioned to work with employers in the financial services industry to examine their practices with respect to equity. The Division head, Stephanie R. Thomas, Ph.D., has deep consulting experience on EEO issues as they relate to the financial services sector. Her client list includes many of the leading financial services firms and brokerage houses in the country. She specializes in the statistical analysis of EEO issues, and has served as a consultant and an expert on a variety of EEOC and OFCCP investigations, multi-plaintiff discrimination claims, and employment discrimination class action litigation within the financial services sector.

Unlike some of our competitors who view proactive analyses as a “by-product” of their litigation work, we think that proactive analyses are a critical component of an organization’s overall risk management strategy. We’ve built an entire service line around employment litigation risk management and have specialists available seven days a week to assist you. To find out how we can help you manage your risk of employment practices litigation, call MCG for a free consultation at 401-331-6360.

http://mcg-site.com/equalemployment/index.shtml

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Reyes Law Group, APLC Offers Multi-Language, Multi-Cultural Services to Educate Minority Homeowners Hit Hardest by Fraudulent Mortgage and Foreclosure Practices

October 16th, 2010 by Bank Loan | No Comments | Filed in Loans

Los Angeles, CA (PRWEB) October 8, 2010

New studies show the foreclosure crisis has hit minority communities the hardest, and predatory lending aimed at racially segregated minority neighborhoods led to the mass foreclosures that fueled the U.S. housing crisis.

In response to the needs of their culturally diverse clientele, and to further educate homeowners of their options to foreclosure, Reyes Law Group, APLC has launched a multi-media and multi-cultural campaign which includes the firm’s YouTube channel, Foreclosure Litigation Blog, Facebook page, a free monthly Legal Forum newsletter, and free Foreclosure Defense Events available with Tagalog, Spanish and Korean translations throughout southern California.

Although the data in the recent studies doesn’t break down for non African American and Hispanic groups, many other minority groups are affected by the foreclosure crisis, according to Norberto F. Reyes, III, president and CEO of Los Angeles-based Reyes Law Group, APLC.

“When you consider that the top three cities and counties in California with the highest percentage of foreclosures are also the top three cities and counties with the highest population of Asian and Filipino Americans, then you can easily assume that a disproportionate number of Asians and Filipinos have lost or will lose their homes to foreclosure because of predatory lenders and illegal foreclosure procedures,” said Reyes.

Reyes, who is of Filipino descent, launched his firm’s aggressive foreclosure litigation approach earlier this year challenging the banks’ and mortgage servicers’ alleged ownership of a homeowner’s mortgage, and the bank’s alleged rights to foreclose on the property.

The study in American Sociological Review is just one of several findings coming to light in the recent nationwide scrutiny and admitted fraudulent practices of the mortgage, banking and foreclosure industries.

“The tide is finally turning in favor of homeowners facing or in the process of foreclosure. It’s all crashing down on the entire servicing industry which participated in filing fraudulent documents in order to steal real homes belonging to real people, including Asian and Filipino Americans,” Reyes added.


    Stockton, which once had the largest population of Filipino Americans in the U.S., reportedly has the highest foreclosure rate in the country;

    Vallejo, which has the highest number of Filipino elected officials in California, also has the highest foreclosure rate in the San Francisco Bay Area;

    Daly City, which boasts of a 35% Filipino population, has the highest foreclosure rate in San Mateo County;

    Las Vegas, which has the fastest growing Filipino community in the US, continues to have one of the highest rates of foreclosures in the country.

On Monday, October 4, 2010 Texas became the latest state to halt foreclosures and sales of foreclosed property. The announcement by Texas’ Attorney General follows the earth-shaking industry move last Friday, October 1 by Bank of America, the country’s largest home loan servicer with more than trillion in home loans, to delay court proceedings in 23 states, including Florida.

Bank of America, along with Ally Financial Inc. and JPMorgan Chase, have conceded that their foreclosure procedures might have been improperly handled by “robo-signers,” or employees who signed tens of thousands of foreclosure documents without properly reviewing or verifying them.

“By not meeting their OWN guidelines, the banks are exposing more proof of massive intentional and pernicious fraud,” explained Reyes. “The good news for homeowners is that through litigation, homeowners have a persuasive and viable argument to stop foreclosures indefinitely, allowing attorneys to litigate the meat of the issue, which is whether these banks really have any enforceable security interest (mortgage) in the home.”

Multi-language, multi-cultural staff educates minority homeowners

In response to the needs of their culturally diverse clientele, Reyes Law Group, APLC provides aggressive and experienced legal representation in Tagalog, Spanish and Korean, in addition to English.

To further educate homeowners of their options to foreclosure, Reyes Law Group, APLC has launched a multi-media campaign which includes the firm’s YouTube channel, Foreclosure Litigation Blog, Facebook page, a free monthly Legal Forum newsletter, and free Foreclosure Defense Events available with Tagalog, Spanish and Korean translations throughout southern California.

In the coming months, Reyes will also make regular appearances on local Filipino American television news programs discussing options for homeowners who are facing foreclosure or bankruptcy.

But, the firm’s staff offers more than just in-language assistance, according to Reyes. “We’re immigrants ourselves, so we know what it’s like to work hard for the American Dream, and how devastating it can be to lose the most important part of that dream: your home. We know how to succeed in the American judicial system. We won’t let homeowners fight the banks alone.”

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Bar Codes for Banking: GS1 US and Financial InterGroup Creating Practices for Identifying Financial Documents

September 28th, 2010 by Bank Loan | No Comments | Filed in Bank


New York, NY (Vocus) September 21, 2010

Nearly 40 years after the retail industry adopted the U.P.C. bar code to improve transaction processes and information flow, the bar code’s administrator and a financial industry development firm are working to bring similar gains to financial documents, their associated electronic financial transactions, and their users.

GS1 US, the not-for-profit standards organization that supports the U.P.C., and Financial InterGroup Holdings Ltd., a financial services joint-venture-development company, today announced a joint exploration to resolve efficiency and risk problems hindering financial firms, stock-issuing companies, and regulators.

The two organizations are studying how to use global GS1 System identification-numbering standards, used by more than 1 million businesses in 25 industries, to identify products and business entities in the financial industry’s transaction life cycle and supply chain. They have met with leading financial institutions to gather input for how the standards could best be adopted by the industry, and are seeking additional input.

“A global identification system would reduce systemic risk in the financial system’s interconnected supply chain,” said Allan Grody, President, Financial InterGroup. “Additional benefits would be lower capital costs and processing efficiencies that will bring middle- and back-office costs down, and help keep trading and infrastructure fees low.”

The standards could be used starting at the earliest point in the financial transaction lifecycle, when corporations draft prospectuses, offering memoranda, financial event announcements, and other documents.

“The recent financial crisis highlighted the long-festering problem of multiple, nonstandard, proprietary coding schemes used to represent financial products and business entities,” said Grody. “This is one of the root causes of regulators’ inability to observe risk building up in the financial system. A standard identification system would fix that, especially when used in conjunction with the XBRL standard for tagging this data in financial documents.”

Grody pointed out that boards of financial firms need to aggregate financial transaction and position data across their multiple lines of business for enterprise-wide risk management, and regulators need to do the same across all systemically interconnected financial institutions.

“For years our industry has sought so-called ‘straight-through processing,’ or STP, which basically means electronic processing and limited manual intervention, similar to the retail sector,” Grody said.

“A common language is required for STP, which will be even more important under the Dodd-Frank reform legislation as it generates new data-management requirements and more activity among market-data vendors, software companies, exchanges, financial firms, clearing houses, central securities depositories, and trade repositories,” he said.

The GS1 System of standards allows users to uniquely identify their products, documents and other assets; capture identification numbers; and share related information with their trading partners or counterparties.

“GS1 standards streamline commerce, improve consumer safety, and save companies in diverse industries billions of dollars a year, and they can do the same for the financial industry,” said Bob Carpenter, President and CEO, GS1 US. “Adopting GS1 standards should be relatively easy for the financial-services supply chain, and we will work with industry leaders to help them in their journey.”

Tim Smucker, Chairman of the Board and Co-CEO of the J.M. Smucker Company (NYSE: SJM), and Chairman Emeritus of the GS1 Management Board, agreed: “We depend on the financial industry to conduct business and serve our shareholders. And we believe the financial industry can benefit from the adoption of the GS1 System of global standards,” he said. “We are committed to share with the financial industry what we in the consumer goods industry have learned in adopting and using universal standards for efficiency and operational performance.”

As GS1 US and Financial InterGroup gain insights from industry leaders, the results could lead to results beyond adoption of the GS1 System.

“Looking past the study phase, we can see multiple possibilities,” said Richard Tinervin, Principal, Financial InterGroup. “Whether the result is a universal system of identifiers, or a completely and digitally documented transaction and supply chain, or a central facility to arbitrate and assure standard data sets, or all of the above, we will be better for having embarked on this road.”

Additional quotes:

Laura Pollard, Executive Vice President and head of Fidelity ActionsXchange, a global corporate action information business, sees the announcement as “potentially a game-changing development. Once issuers take responsibility for structuring and standardizing their corporate event announcements and placing bar codes on these documents, the entire transaction chain can be automated, eliminating manual processes and minimizing interpretation risk. In today’s marketplace, we already have bar code reading functionality built into cameras on our hand-held smart phones – just click the camera, read the bar code, answer the question via the key pad or touch screen and email the result. Straight-through processing for real!”

“The XBRL standard is currently in use by over 75 percent of the world’s capital market regulators and is particularly relevant to the need for identifier standards,” says Mike Willis, Chairman of XBRL International and a Partner at PricewaterhouseCoopers. “Structuring and standardizing information elements contained within a broad range of documents such as prospectuses, offering memorandum and corporate event announcements will be useful to processes throughout the financial industry supply chain.

“Structuring identification standards as industry best practices will allow seamless population of referential data bases, minimization of errors in corporate event announcements, and seamless matching of financial transactions in payment and settlement systems,” Willis says. “Most importantly it will allow seamless aggregation of financial disclosures for individual firms’ risk-management and for regulators’ systemic risk analysis needs. For this to occur, however, issuers need to structure standard identifiers within financial instruments similar to how the SEC now requires within their XBRL Mandate for company financial reports.”

About GS1 US™

GS1 US is a not-for-profit organization that brings industry communities together to solve value-chain problems through the adoption and implementation of GS1 standards. More than 200,000 businesses in 25 industries rely on GS1 US for trading-partner collaboration and for maximizing the cost effectiveness, speed, visibility, security and sustainability of their business processes. They achieve these benefits through GS1 US solutions based on GS1 global unique numbering and identification systems, barcodes, Electronic Product Code-based RFID, data synchronization, and electronic information exchange. GS1 US also manages the United Nations Standard Products and Services Code® (UNSPSC®). www.GS1US.org    

About GS1

GS1 is a neutral, not-for-profit organization dedicated to the design and implementation of global standards and solutions to improve the efficiency and visibility in supply chains. GS1 is driven by more than a million companies, who execute more than 5 billion transactions a day with the GS1 System of standards. www.gs1.org

About Financial InterGroup Holdings Ltd.

Financial InterGroup is a financial industry development company that develops and advises on acquisitions and joint ventures of financial institutions and their suppliers. From advising on the mergers of the earliest emerging global financial institutions to researching the latest theories of systemic risk, Financial InterGroup principals and advisors have been at the forefront of innovation in the consolidation, collaboration and globalization of the financial services industry for over four decades. www.FinancialinterGroup.com

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Cuomo Gains Momentum Investigating Student Loan Practices

September 27th, 2010 by Bank Loan | No Comments | Filed in Loans
student loan
by Christopher S. Penn

Cuomo Gains Momentum Investigating Student Loan Practices

More questionable student loan practices have been brought to light by New York’s attorney general, Andrew Cuomo. In fact, one of the front-page stories of today’s New York Times focuses on the questionable relationships that Student Loan Xpress—the eighth-largest student loan agency—has developed with the financial aid directors of certain colleges and universities .

Corruption or Reducing Marketing Expenses?

The idea that financial aid directors of colleges and universities would give biased advice to students is disturbing on many levels; and surely that is why Andrew Cuomo has attracted so much media attention.

The fact remains though, that companies like Student Loan Xpress are trying to find the easiest and least expensive way to make their services available to as many students as possible. If Cuomo’s allegations are correct, it seems that Student Loan Xpress has found a way to reduce marketing costs by contacting prospective clients directly through financial aid directors.

In essence, the problem is the “wolf in sheep’s clothing” that the financial aid officer represents: when the officer’s interests are directed towards him/herself rather than toward finding the best financial aid solution for the student, it is wrong.

Solutions

There have been calls for increased regulation of the student loan industry, but so far I have not read very much about best practices in the student loan industry.

When marketing to prospective students, we have found that leveraging rich content reduces many of the problems with “incentives” that arise in education marketing. Providing the individual with the means to make an educated decision may be more expensive in terms of marketing, but this method ensures that the student is genuinely interested in the product that is being offered, rather than being coerced into making a decision.

The outcome of Cuomo’s investigation may very well force student loan companies to spend more money on marketing, and make their services more accessible to the individual student.

Patrick Sutton is Marketing Director of Innovation Ads, Inc., a company that helps colleges and universities to increase applications and enrollments by leveraging proprietary and affiliate internet portals, and the second largest DRTV media buying capacities in the US.


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Best Practices in Availing of a Bad Credit Mortgage Refinance Loan

September 12th, 2010 by Bank Loan | No Comments | Filed in Loans
house loan
by Florida Community Loan Fund

Best Practices in Availing of a Bad Credit Mortgage Refinance Loan

When you are in a situation when you have poor credit but you want to refinance your mortgage, the best way may be to think of applying for a bad credit mortgage refinance loan. This kind of loan may offer higher interest rates and longer payment periods, but by applying you may just get lucky and get loan terms that best fit your needs. Here are some ways that you can prepare to apply for such loan that will help you in your situation.

Research

Be sure that you do the proper research on the different lending firms and banks that specialize in bad credit mortgage refinancing. Getting as many as you can, will offer you a variety of choices to check over and decide on. Create a matrix that will help you clearly compare the different loan terms that each offers. With this useful matrix, once all the fields are filled up, it will give you a clear picture on which loan to take and which not to.

FICO Score

Check on your credit report and make sure it is accurate and properly calculated. There have been some instances when the calculation of a FICO score has been erroneous. If you find any errors, be sure to report them straight away so that you can fully take advantage of the fact that you can probably apply for a loan with lower interest and more beneficial loan terms for you.

Refinancing Terms

With the many lending firms and banking institutes that are competing to offer the best service, when you have narrowed down your choices to three lending firms, make sure you get the best deal that fits your particular situation. Sometimes some terms are negotiable. Try your best to get the best terms that will help you save and will relieve you of your debt as well.

Alternatives

Many programs today offer bad credit mortgage refinance loans with great terms. The only drawback is that these programs are made for specific class of individuals. There are housing loan that are up for grabs for individuals who have special circumstances, like single mothers or even the handicapped. If you fall within a class that has special circumstances, it would be worthwhile to check out the loan opportunities that may be most beneficial to your situation.

These are some best practices that will help you get the bad credit mortgage refinance loan that best fits your needs. With this information, you can now begin steps to see if refinancing your home will get you the savings or agreeable payment terms that will best fit your finances.

Find out more best practices on how to avail of the best Bad Credit Mortgage Refinance Loan for your situation. See how you can make it work to your advantage by checking out http://www.bad-credit-home-mortgage-loan-refinance.com/things-to-do-before-you-get-a-bad-credit-mortgage-refinance-loan.php today.

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