2009 General Sessions
General Session I
State of the Association:
Joseph Coleman, FiSCA Chairman
"Expanding the Industry's Culture That Values Our Customers"
Gwenn
Bezard, Co-Founder & Research Director, Aite Group, LLC
Joseph Coleman, FiSCA Chairman
Luncheon
o National Scholarship Presentation
Sanford Herman, Chairman, Scholarship
Committee
Watch the Presentation Video!
General Session III
o Washington Report
Speaker: William Sellery, Sellery Associates,
FiSCA Washington Representative
o FiSCA's National Grassroots Campaign
Speaker: William Murray, Executive Vice
President, MWW Group
o FiSCA-Ernst & Young PDA Cost Study
Speaker: Dr. Russ O’Haver,
Partner/Transfer Pricing, Ernst & Young
o FiSCA 2009 Member Industry Survey Presentation
Speaker: Dr. Pat Cirillo, President, Cypress
Research Group
o Consumer Financial Protection Agency
Panel
Speaker: Wright Andrews, Esq., Partner, Butera
Andrews
Speaker: William Sellery, Sellery Associates, FiSCA
Washington Representative
2009 Workshops
I. Operations (Track I)
Best Practices for Developing and Maintaining Bank
Relations
Scott McClain, Esq. Winne, Banta, Hetherington, Basralian
& Kahn, P.C.
Michelle Hemmersly, MB Financial
Carol Ann Killian, Capital One Bank
Larry Slonina, U.S. Advisory Services
Sandra Stevenson, Ascella Compliance
Many banks approach MSB customers with extreme caution, fearing that
developing an appropriate risk-based program for opening or maintaining
MSB accounts is too difficult or costly. MSBs can help to
ease the perceived burden of servicing MSB accounts by taking steps to
mollify concerns about the industry. This workshop will discuss
industry best practices that can help you better position your business
for establishing and maintaining positive banking relations. The
workshop will help you to understand the regulatory environment that
banks face and how you can meet your bank’s expectations.
Image is Everything: How Your Store's Appearance Affects
Your Bottom Line
Joe Coleman, Rite Check
Lou Costantini, Grafico
Ian A. MacKechnie, Amscot Financial
Jim Marchesi, Check City
For most FSC operators it just doesn’t make sense to spend on
media advertising. While something could be said for direct mail, there
is no doubt that hands down, the most cost effective way to promote our
business is by investing in our stores. Our stores are our
“Billboards” in our neighborhoods. In this work shop we will
discuss “make overs” that that have proven to be effective
at increasing business – and it’s not just signage. Come to
this workshop and share with other FSC operators how upgrading store
appearance upgrades your bottom line.
Implementing Effective Collection Practices and
Guarding Against Common Abuses
Bill Milligan, PLS Financial
Lou Nash, Check$mart
Whether it is your check cashing or payday lending business, having
an effective collection process is critical to the financial success of
your company. In this workshop you will learn about:
- Methods and strategies that can help to optimize your collection of
returned checks and bad debts.
- How current technology can be used to reduce your company's bad
check and loan losses?
- Common collections abuses that you need to be aware of and
prevent.
Keys to Maintaining a Positive Employer-Employee
Relationship
Edward P. D’Alessio, Esq., Winne, Banta,
Hetherington, Basralian & Kahn, P.C.
Aggie Clark, Moneytree,
Inc.
GiGi Vasquez, RiteCheck
This workshop will focus on the processes, including hiring practices
and orientation of new employees that employers should develop and
implement in order to promote and maintain a positive employer-employee
relationship. The workshop will cover the design and implementation of
systems to solicit employee feedback and to foster constructive
improvement in the workplace. The workshop will also discuss common
workplace issues currently affecting financial service center
businesses. Workshop attendees will have ample opportunity to ask
“real life” questions of the presenters, who have extensive
experience in human resource issues.
Listening to and Influencing Others: The Keys to
Customer Service
Judy Rosemarin, Sense-Able Strategies, Inc.
Are you an opportunistic listener? Do you find yourself getting
impatient with
customers? Have you ever wished that your customers would listen to you
better?
In this workshop you will learn how to listen and respond to your
customers in new ways for greater connection and impact.
As you learn the five different listening approaches, you will also
learn how to match the best listening style to each of your customer's
needs to build deeper rapport, trust and loyalty.
Out of the Box: Building and Retaining Customer
Trust
Jeffrey M. Shyne, Greenhouse Organizational Resources
Customer loyalty is essential for your business to be successful, but
it does not happen by chance. Customer retention is the product of a
carefully and thoughtfully constructed business environment that fosters
a customer relationship based on trust. In this workshop, you will learn
simple tools and processes that you can implement to ensure that you are
successful in establishing and maintaining trust relationships with your
customers.
II. Payday Lending/Credit (Track
II)
Battleground States: Lessons Learned in 2009 and
What’s on the Horizon in 2010 for the Payday Advance
Industry
William Murray, MWW Group, Moderator
Jason Paduchik, Cash America International
Eric Norrington, ACE Cash Express
Robert Grieser, Check$mart
The past year has proven to be very challenging for the payday
advance industry on the legislative front, as states continue to
consider how they want to regulate the industry. This panel will discuss
the legislative battles that took place in South Carolina, Virginia,
Washington, Wisconsin, California, Kentucky, Texas and other states. In
this workshop you will learn the lessons the industry has learned in
2009 and receive insight on what can be expected in 2010.
Common Compliance Issues and Problems Involving
Payday Lending
Ron Gorsline, Esq., Chambliss, Bahner & Stophel, P.C.
Cliff Cook, Compliance Services, Inc.
Over the past few years, compliance with the Bank Secrecy Act, USA
PATRIOT Act and other anti-money laundering laws have received much
publicity and attention; however, for Financial Service Centers that
also offer payday advances, compliance with a plethora of other federal
laws cannot be ignored. This workshop will focus on the federal laws
that are currently on the regulators’ radar, including the Fair
and Accurate Credit Transactions Act/Red Flags Rule, the
Truth-In-Lending Act/Regulation Z, and the Equal Credit Opportunity
Act/Regulation B.
Future of Small Dollar Lending
Jerry L. Robinson, Servius Capital
Mike Hodges, Harpeth Financial Services, Inc.
Michael Farrell, Urban Trust
The changing form of customer, regulatory and lender behavior is
creating new lending products and changing the methods of delivering
"old" products. This seminar looks at the future of what customers are
looking for in a loan product, what businesses can deliver and what
capital will support these products. Economic behavior and other
financial trends will be explored.
Internet Lending: Opportunities and
Challenges
Roman Vaccari, Esq., Winne, Banta,
Hetherington, Basralian & Kahn, P.C., Moderator
Steve Crispinelli, Cyberdreaming
Bart Miller, Centrinex
Brandon Payne, Payne's Check Cashing
The Internet lending market is continuing to rapidly grow, piquing
the interest of venture capitalists, entrepreneurs, existing Financial
Service Centers operators, and regulators, among others. It is estimated
that Internet payday lending alone constitutes approximately 15% - 20%
of the total loan volume, with that market share is growing each year.
This workshop will review and discuss the emerging Internet lending
market, the various business models that are being utilized, and will
explore how one can maximize the return on investment of an Internet
operation.
Organizing a Grassroots Effort
Max Wood, President, Borrow Smart Alabama
Bill Smith, President, Easy Money Cash Centers
Stephen Altobelli, MWW Group
Dr. Pat Cirillo, Cypress Research Group
The days of relying upon traditional government relations to address
your company’s external threats are over. Increasingly, companies
are taking a more progressive view of external relations, recognizing
that the media, customers, community groups and other third parties, in
addition to public officials, all can play important roles in forming
the overall business environment in which they operate.
This workshop will discuss the value of creating individualized
grassroots programs and the different elements that can be incorporated
into them. It will then examine the Borrow Smart program that has been
successfully implemented in Alabama and Mississippi.
Washington's Perspective on Consumer Finance Issue and
the Impact on Payday Advances
William Sellery, Sellery Associates, Inc.
Kevin Kimble, Cash America International
Washington's policy-makers are taking an increasingly hard look at
consumer finance issues, with numerous bills directed at payday lending
and other consumer credit products having been introduced this past
year. This workshop will examine both the substantive and political
issues bearing on legislative developments in Washington and how
decisions will be made.
III. Marketing and Innovation (Track
III)
Diversifying Your Company's Product Line to Compete in
Today's Marketplace
Ira Krell – David's Financial
Vincent Andracchio – Friendly Check
Paul Soter, Esq.
For many decades, the Financial Service Center industry has been
leading the way in economic inclusion. The entrepreneurial spirit, which
is at the core of Financial Service Centers, drives innovation in
developing products and services which are responsive to consumer
demand. This workshop will explore how Financial Service Centers can go
about identifying what products and services consumers desire to ensure
compatibility between the products and services offered and those which
consumers need. The panel will also illustrate some of the ways
Financial Service Centers are expanding their product line to ensure a
satisfied consumer and economic prosperity.
Extending the Life Cycle of Your Customer
Jim Higgins, Grafico, Inc.
Frank Kaplan, NetSpend
Ann Jonsrud, Monitise
Americas
Businesses grow primarily in 2 ways --
selling more to existing customers and selling to new
customers. Both require new products, features and
approaches. As traditional financial institutions
retrench, Financial Service Centers have new opportunities to pursue both strategies while growing their
roles in the financial lives of their
customers. The workshop will also examine the effectiveness
of prepaid cards in extending the life cycle
of customers.
Importance of Marketing to Your Bottom Line
Lou Costantini, Grafico, Inc.
Jim Higgins, Grafico, Inc.
Everybody is looking to diversify and grow their revenue base, but
adding products randomly without a plan can cause more harm to your
business than good. Successful growth requires a multifaceted look at
all aspects of your marketing mix. This session will explore the "4P's
of the Marketing Mix" and apply them to financial services retailing.
From who you are and what you sell to how you look and how you attract
and retain customers are all part of the mix. This workshop will feature
some real-world examples of what successful operators in your industry
are doing to grow and promote their businesses.
Utilizing Prepaid Cards to Provide an Outstanding Consumer
Experience
Jorge Consuegra, Western Union
Innovation within prepaid card programs is needed within the
marketplace. This workshop will discuss how new and innovative
prepaid card programs can increase consumer engagement, drive stronger
relationships and increase sales for retailers.
Key Strategies to Competing With New Market
Entrants
Edward P. D’Alessio, Esq., Winne, Banta,
Hetherington, Basralian & Kahn, P.C., Moderator.
Gwenn Bezard, Aite Group
Rick Lake, California Check Cashing Stores, LLC
Robert Wolfberg, PLS Financial
Wal-Mart. H&R Block. Jackson Hewitt. Do you
consider these businesses competitors to your check cashing
business? Whether or not you do, it is clear that
competition for check cashing customers has increased in recent years,
as the likes of Wal-Mart, H&R Block and Jackson Hewitt have
entered the check cashing market. The panel will analyze the
progress these new entrants have made in penetrating the
market. The panel will also discuss key strategies that can be
implemented to help you retain customers.
III. Legal and Compliance (Track
IV)
Common Errors on Title 31 Exams and What You Can
Do To Avoid Them
Wanda Griffin - IRS
For several years, IRS BSA examiners have identified 7 common
errors when conducting Title 31 examinations of
MSB’s. This interactive workshop will not only
detail those common errors, but will also discuss ways in which to
avoid them.
Legal and Tax Issues in Buying and Selling of a
Financial Service Business
Bruce Balonick, Esq., Arnstein & Lehr LLP
Todd Polyniak, CPA, Sax Macy Fromm
The key factor in purchasing or selling an existing financial
services business is the receipt of regulatory approvals, but it is
increasingly important that purchasers focus on a wide array of due
diligence matters, any one of which could turn a transaction into a
nightmare. This workshop will provide a comprehensive review of legal
and tax issues you need to be aware of prior to acquiring or selling
your business.
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