Not so fast OCC and CFPB
I’m a fan of innovation in the financial industry. God knows, it is needed. However, I'm not a big fan of regulation. God knows, there’s a lot that should be given the old heave-ho. But, there are limits. And, we’ve recently reached a big one. That’s why I’m opposed...
Is it time for you to stop advertising?
It's simple. No matter who you are, or how big or small your business, if you don't have a written advertising plan, with objectives, strategies and budgets, you're almost certainly wasting money. You’ll probably be better off spending it in an Atlantic City...
Mr. Banker, time to rethink hiring a book of business
The traditional bank practice of hiring a commercial lender who will “bring his book of business” has become a risky proposition. Late last year, the Federal Reserve clobbered two bankers with a double whammy: first the bankers got hit with a...
A paean to determination
"Ain’t no” is a tribute to determination. (That’s my story and I’m sticking to it.) According to Wikipedia, "Ain't No..." was written by Nickolas Ashford and Valeri Simpson in 1966. Dusty Springfield wanted the song, but Ashford/Simpson held out for a Motown...
Two Decisioning BGOs
Mistake Number One: Misplaced confidence in what you know. AKA flying by the seat of your pants. I’ve been in hundreds of conferences in which the presenter referred to the “classic mistake General Motors made when they introduced the Chevy Nova into Spain.”...
Compliance and Marketing Are Better Together. Really
Here’s a blinding glimpse of the obvious: there are a slew of marketing concepts that would be very attractive to bank customers. However, before a bank can kick off a new program, it needs to know if the new concept will comply with the State and Federal consumer...
Marketing and Compliance are better together. Really.
Here’s a blinding glimpse of the obvious: there are a slew of marketing concepts that would be very attractive to bank customers. However, before a bank can kick off a new program, it needs to know if the new concept will comply with the State and Federal consumer...
Undone by a blue Schwinn
In 1955, when I was 9 years old, my father moved the family to Detroit, MI from Asheville, NC. It was a sudden decision. I came home from West Asheville’s Vance Elementary School one Friday afternoon and the following Monday, I was attending class at Burns...
Turning the Right Screw
In 1969 I was an apprentice in the service department of a company sold and serviced typewriters and adding machines. I had an important job. I was the guy who dunked all the machines brought in for service and repair into the gunk tank. The tank was filled with...
My grandfather’s photo should have been in the dictionary beside the word “deliberate.”
My grandfather (the non-Scots/Irish one) was a first-class carpenter. According to family legend, he worked with his father on the construction of the Vanderbilt's dairy barn at the Biltmore House, which would have been around 1901 or so. Later, during the...