2008 Annual Conference and Exposition Workshops
Battleground States: Lessons Learned in 2008 and What’s on the
Horizon in 2009 for the Payday Advance Industry
William Murray, MWW Group, Moderator
Mary Jackson, Cash America International
Terry Lawler, Blue Ridge Strategies
Eric Norrington, ACE Cash Express
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 workshop
topic, which was a well received general session presentation at last
year’s Conference, will discuss the legislative battles that took
place in Ohio, Arizona, Virginia, New Hampshire, and other states.
The panel will highlight the lessons the industry has learned in 2008
and will provide insight on what can be expected in 2009.
Click for the presentation.
Collections
Steve Hanson, Oak Brook Financial Corporation
Thom Shauklas, Oak Brook Financial Corporation
Having an effective collection process is critical to the financial
success of your company. This workshop will provide you with
methods and strategies to optimize your collection of returned checks
and bad debts.
Click for the presentation.
Compliance for Payday Lenders: Making Sense of the Regulatory
Alphabet Soup
Cliff E. Cook, Compliance Services, Inc.
Ron Gorsline, Esq., Chambliss, Bahner & Stophel, P.C.
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. The presenters in this workshop will
review the various federal laws and regulations affecting payday
lenders, including the Truth-In-Lending Act/Regulation Z, Equal Credit
Opportunity Act/Regulation B, Gramm-Leach-Bliley-Act/Regulation P,
Electronic Funds Transfer Act/Regulation E; the Military Lending Act,
and Fair Debt Collection Practices Act.
Click for the presentation.
Direct Deposit: Friend or Foe?
James R. Wells, Wellspring Consulting International, Moderator
Allen Klose, ACE Cash Express
Rick Lake, California Check Cashing Stores, LLC
Jon Nelson, NetSpend
Since the advent of direct deposit many operators within the
Financial Service Centers industry have viewed this technological
advancement as a threat to business and, specifically, to check cashing
volumes. However, with the emergence of stored value cards as a
popular form of storing and accessing funds, a growing number of
Financial Service Centers have embraced direct deposit as a tool for
maintaining customer relationships and expanding revenue sources.
This panel will explore some of the common myths about direct deposit,
review the pros and cons of offering direct deposit, and provide you
with valuable information which will help you decide whether direct
deposit is right for your company.
Click for the presentation.
Diversifying Your Company’s Product Line to Compete in
Today’s Marketplace
Pat Cirillo, Cypress Research Group
Ronald Hans, Nationwide Cellular
Ira Krell, David’s Financial Corp
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.
Click for the presentation.
The Future of the Financial Service Centers Industry
Edward P. D’Alessio, Esq., Winne, Banta, Hetherington,
Basralian & Kahn, P.C., Moderator
Joseph Coleman, Rite Check Cashing, Inc.
Sam Oriel, Kinecta Federal Credit Union
Fraser MacKechnie, Amscot Financial
Industry consolidation, Internet payday loans, declining check
cashing transactions and increasing regulatory scrutiny make this an
interesting and challenging time for Financial Service Centers. The
panel will review some of the challenges that lie ahead for the
industry, as well as discussing opportunities for growth.
The 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, Rite Check Cashing, Inc.
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.
Legal Issues Affecting the Financial Service Centers Industry
Roman Vaccari, Esq., Winne, Banta, Hetherington, Basralian &
Kahn, P.C., Moderator
Ted Eades, General Counsel, ACE Cash Express
Bill Ettelson, General Counsel, PLS Financial
Paul Soter, Esq.
This workshop will cover in-depth the joint-agency “red
flag” rules promulgated last year under the Fair and Accurate
Credit Transactions Act. The regulations, which apply to payday
advance providers, took effect on January 1, 2008 and compliance will be
mandatory beginning on November 1, 2008. The workshop will also
include a discussion on various pertinent legal issues and topics
relating to the Financial Service Centers ranging from the keys to
drafting a sound and enforceable arbitration agreement to local
municipalities’ attempts to restrict or eliminate Financial
Service Centers through local zoning
ordinances.
Click for the presentation.
Legal Issues in Buying or Selling a Financial Service Business
Bruce Balonick, Esq., Arenstein & Lehr, LLP
Richard Wolloch, Esq., Winne, Banta, Hetherington, Basralian & Kahn,
P.C.
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 your new dream location
into a nightmare. This workshop will provide a comprehensive
review of issues you need to be aware of prior to acquiring or selling
your business. The workshop features two highly experienced
transactional attorneys who have represented buyers and sellers in
numerous transactions involving Financial Service Centers.
Click for the presentation.
Marketing Strategies That Improve Perceptions and Profits
Lou Costantini, Grafico, Inc.
Jim Higgins, Grafico, Inc.
In today’s competitive environment, an effective marketing
strategy is more important than ever. Financial Service Centers
offer the consumer a variety of valuable services, but just offering
them is not enough. You need to effectively communicate your offerings
to empower consumers to make a choice and to do more business with you.
This session will address the importance of a solid marketing strategy
along with realistic examples of how progressive operators execute their
brands and product messages through their store design, signage, and the
total retail experience. Various, affordable marketing campaigns that
will positively impact your business will also be discussed. Get ideas
that you can put to work immediately from the industry’s thought
leaders in financial services retailing.
Click for the presentation.
Maximizing Profitability and Customer Loyalty Through FiSCA’s
Consumer Empowerment Program
Edward P. D’Alessio, Esq., Winne, Banta, Hetherington,
Basralian & Kahn, P.C., Moderator
Corey Stone, PRBC
Brandon Thompson, NetSpend
FiSCA and its members have proactively pioneered and implemented a
consumer empowerment program, consisting of a savings, credit building,
and financial education components, which is designed to advance the
overall financial well being of low-and-moderate income consumers.
However, the Consumer Empowerment Program is not just beneficial to
consumers, it also can be utilized by Financial Service Centers to
develop and maintain customer loyalty, as well as maximizing
profitability.
Mergers & Acquisitions: What is Your Business Worth in
Today’s Market???
Bruce Miller, Stephens, Inc.
Jerry Robinson, Servius Capital, LP
Ted Saunders, Checksmart Financial Company
Would you like to know how the value of your business is affected by
the current economy? If so, this workshop is for you. The
participants will present and explore the current state of the markets
and discuss valuation amid the credit crunch and the existing regulatory
environment. Factors impacting the current financing of businesses
will also be a presented.
Click for the presentation.
Minimizing Bad Check Losses Through Modern Technology
Stuart Tapper, Unbank Company, LLP
Are you utilizing current technology to reduce your company’s
bad check losses? In this workshop, you will learn how to minimize
bad check losses through resources that until recently were not
available to you. The workshop will also cover how to use tools
such as the Internet to find information on makers or payees to better
assist your decision-making when banks will not verify information.
Click for the presentation.
The Nuts and Bolts of Internet Lending
Roman Vaccari, Esq., Winne, Banta, Hetherington, Basralian &
Kahn, P.C., Moderator
Sarah Fagin Cutrona, Esq., ThinkCash
Michael Raskasky, Esq., Harlowe & Falk LLP
Steve Crispinelli, Cyberdreaming
Over the past few years, Internet lenders have quickly emerged as a
major source for payday lending. Today, it is estimated that
Internet payday lending constitutes approximately 15% of the total loan
volume, with that market share growing each year. In this
workshop, the panel will review and discuss the emerging Internet
lending market, the various business models that are being utilized, and
the existing regulatory environment. The presenters will also walk
you through an Internet loan transaction, highlighting operational
issues that you need to be aware of and identifying legal requirements
that are unique to an Internet transaction.
Out of the Box: Ten Practical and Easy Ways to Make Your Business
More Profitable
Jeffrey M. Shyne, Greenhouse Organizational Resources
In today's economy you have to work harder and smarter just to
maintain past profitability levels. This workshop will provide you
with 10 principles that will enable you to take your business to the
next level. Participants will leave with a set of management tools
and techniques that will help you to improve your business’
leadership, training, and customer service.
Click for the presentation.
Preparing for a Compliance Audit
Wanda Griffin, Chief, BSA/Special Programs, Internal Revenue
Service
This workshop will provide a comprehensive overview of what to expect
during an Internal Revenue Service Title 31 BSA compliance exam. Wanda
Griffin will discuss all aspects of the examination; from the receipt of
the appointment letter to the issuance of the Letter 1112. This session
is designed to be interactive. Don't pass up the opportunity to ask the
IRS questions about the examination process.
Click for the presentation.
Reducing Your Costs Through Electronic Check Processing
James R. Wells, Wellspring Consulting International, Moderator
R. Craig Schafer, Money Service Centers of Hawaii, Inc.
Jeff Ringer, Unbank Company LLP
Daniel Roberts, Merchants Bank of California
In the 3 years since the Check Clearing for the 21st Century
Act became effective, the growth of image-based check clearing has been
nothing short of explosive.
Electronic Check Processing offers substantial benefits, including
same-day funds availability, same-day return of uncollected items,
reduced borrowings against uncollected items, and the ability to deal
with virtually any bank in the country.
Learn how two FiSCA members are using electronic check processing
technology to improve their operations.
Click for the presentation.
Small Dollar Loan Dialogue Meeting Report and Discussion
Gerald Goldman, FiSCA General Counsel
Roman Vaccari, Esq., Winne, Banta, Hetherington, Basralian & Kahn,
P.C.
Jennifer Tescher, Center for Financial Services Innovation
Prior to the start of this year’s Conference, FiSCA hosted a
meeting of a diverse group of small dollar loan stakeholders, including
industry representatives, regulators, researchers, economists, and
consumer groups, to work with FiSCA in evaluating existing small dollar
credit alternatives and on developing a new and additional small-dollar
loan product that is sustainable, supportable, scalable, profitable and
adequately satisfies consumers’ need for small dollar, short-term
credit. This workshop will provide you with a report on that
meeting and open the floor to a discussion about the process.
Presentation unavailable at this time.
Washington’s Perspective on Consumer Finance Issues & the
Impact on Payday Advances
William Sellery, Sellery Associates, Inc.
Washington’s policy-makers are taking an increasingly hard look
at consumer finance issues, and decisions they are likely to make in the
coming year are certain to have a significant impact on the payday
advance industry. Beyond subprime lending and credit card
practices, Washington will examine stored value cards, access to credit,
savings opportunities, and financial literacy for consumers. Both
Congress and the federal regulators are looking beyond the restrictive
Military Lending Act to see what kind of blanket federal laws and
regulations governing payday advances should be considered as part of
broader consumer protection initiatives. This workshop will examine both
the substantive and political issues bearing on how those decisions will
be made, and the effect on your payday business. It will be time
well spent for your future business planning.
Presentation unavailable at this time.
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