Pub. 2 2011 Issue 4

winter 2011 3 11 6 4 Bankers are the Solution not the Problem Everybody is talking about creating jobs nowadays. From the sound of all the talk on cable news, you would think that jobs are created by Congress or the President. By Robert L. Buzzo, Chairman 6 Credit Scores, and the Perfect Storm In 2011, the stakes for using credit scores increased dramatically. Some may see it as a “perfect storm,” where regulation changes necessitated by the 2003 Fair Credit Reporting Act (FCRA) rained on the industry just as the edge of Hurricane Dodd-Frank made landfall. By Richard C. Donovan, CPA CTP 9 Trends in the Defined Contribution Industry— Multiple Employer Plans One of the most compelling trends in the defined contribution industry today is the increased use of multiple employer plans. By Mark Hogan, Regional Marketing Director, Pentegra Retirement Services 10 Calendar of Events 11 Damages Recoverable Under the WVCCPA Last quarter, we focused on the available defenses to West Virginia Consumer Credit and Protection Act, W. Va. Code § 46A-1-101 et seq. (“WVCCPA”) claims. This article, we will focus on the potential damages that a consumer can recover - actual damages, statutory penalties, and attorney’s fees. By Angela L. Beblo and Patrick R. Barry, Spilman Thomas & Battle, PLLC. 16 Ability toRepay: CFPBShouldGrant Complete Exemption For Balloon Loans Held in Portfolio In April 2011, the Federal Reserve proposed regulations to implement the ability-to-repay requirements of the Dodd-Frank Act. By Sandra Murphy, Partner, Bowles Rice McDavid Graff & Love LLP 19 A Cloudy Conversation: Understanding How Financial Institutions Can Benefit from Cloud- based Services Everyone’s talking about the cloud these days. Thanks largely to Apple, Amazon and others, the cloud has become the latest technology phenomenon. By Jeff Simpler, Director of Business Development, HEIT, a CSI Company. 23 Motivating Without Money Motivating without money is a key skill for every supervisor, but remember — Motivation is intrinsic. You can only set up an atmosphere that encourages it. The rest is up to the employee. By Bernie Deem, Owner, DeemHR. 25 Financial Literacy 2.0: A New Digital Model for Financial Literacy Credit card bills, debt, saving, and investing are not often top of mind for most high school students, yet the financial decisions they make today will have long-term effects on their lives. 26 ICS, A Savings Product That Provides Access to Multi-Million-Dollar FDIC Insurance AND Interest The economic turmoil and uncertainty of the last few years continue to have a major impact in the financial marketplace. By Erich Buckenmaier, Regional Director, Promontory Interfinancial Network, LLC