Month: August 2018

Snapshots of Life by Banking Rules in the 2009 Obama Era

America elected the western industrialized world’s first non-white leader in 2008 in part to address an unprecedented global economic crisis brought on by eight years of a conservative administration that promoted unilateralism and deregulation of financial institutions to maintain dominance in a globalizing world. In the wake of that policy, the new administration secured legislation to regulate predatory banking practices that had contributed to consumer participation in the collapse of the country’s economic system.

The new banking regulations were due to go into effect in 2010 but the American public appeared unappeased by the far-off protections. Consumer confidence continued to plummet as unemployment rose to near 10 per cent nationwide, as widely reported by sources aggregated on Google News, among others.

Half-way into the new administration’s first year, a new consumer protection agency was proposed and was met with opposition by the conservative friends of bankers. A Commission was set up to investigate the causes of the crisis and America’s role in its dynamics, with the Commission’s head vowing to let -no stone go unturned- in identifying the actors and conditions that had led to a situation unseen since the Great Depression of the previous century.

The Commission’s report was to be released by the end of December. With the new curbs on banking practices not in effect until 2010, banks had the rest of the administration’s first year in which to pull out all stops to capitalize on consumer vulnerability.

Among other banking developments in 2009, interest rates on credit cards were hiked by up to 28 percent if payment was a day late. Promotional interest rates expired with no recourse but to accept higher rates or cancel accounts to lose credit flexibility. Accounts were cancelled for either nonuse or overuse and cards were disabled without prior notice for such reasons as security checks on suspicious card activity.

The upshot was the need to carry two or three cards to shop with confidence. Uncertainty no doubt contributed to the all important -consumer confidence- factor that continued to lag in the government’s efforts to stimulate the economy. On the consumer side, silent protest took the form of refusal to buy, sending the message that consumers were aware that unfairness had reached the stage of absurdity judged by common sense comparison with daily life. Rules of fair play are a staple of sports and form the basis for human relations. Violations lead to penalties, ousters, and in the personal realm, to divorces. The breadth of scenarios resulting from capricious applications of terms to agreements would not only be innumerable. They would include situations such as the following.

*Two people made a date for lunch. One decided not to show and decided it was not important to let the other know.

*Two people met for lunch at the invitation of one who stated his intention to pay. The purported host left once dessert was ordered.

*Three people agreed to meet for lunch. One was a minute late and was told the penalty was to pick up the entire tab.

*A club was established with a set amount for dues. The dues were raised without membership vote. Protestors were told to comply or abandon projects being carried out on the club’s behalf.

Further snapshots of life without a fair application of agreed-upon rules would demonstrate chaos, all the way back beyond humanity’s cave days and into the dark void before God made order in the universe. They would be a summary of the banking policies that had led the country into the need for an Obama.

Helen Fogarassy is a Hungarian-born American internationalist writer with a 20-year association to the United Nations. Her suspense novel, The Midas Maze, involves murderous hijinks in UN/US relations. Other books include The Light of a Destiny Dark, a novel about the Euro-American cultural gap and Mission Improbable: The World Community on a UN Compound in Somalia. All are available on web book sites. Visit her at www.helenfogarassy.com to get more.

Books Online About Internet Banking Can Help With Questions

There seem to be few that the average person can read and understand. With a little investigation at your local bookstore and online, you can find some fairly recent books that have something to say to the average consumer about internet banking.

Scams and Swindles: Phishing, Spoofing, ID Theft, Nigerian Advance Schemes Investment Frauds. There are many how-to books with instructions about knowing when you are being taken for a ride.

If you read this book, you will get information from crooks who have scammed, people who have been scammed, and cops who have investigated scams. You will be given worksheets and detailed reports on recognizing internet banking fraud. It is a must-have book for anyone who wants to understand how frauds work.

In some books, the author discusses how internet banking services can be used to create wealth. The usual financial concepts are discussed. Understanding net worth and how to accumulate cash are important ones. Different types of investment vehicles are also mentioned.

The difference in some books is that it is all related to internet banking. It is all designed to make it easier to run your finances from your home computer. This not only includes your internet banking savings accounts. It includes stocks and bonds, as well. It is well worth the investment.

Some books shed light on how internet banking may become more popular in developing countries. They explain that mobile devices are much preferable to installed devices in such countries.

This is because, for anything that involves installation, like a satellite or cable service for internet, people have to wait quite awhile. The early users of the internet in developing countries will be those who have wireless internet. It stands to reason that these people will use their computers for internet banking as well.
Some books give a studious report on banking issues that affect the world. They include discussions of internet banking.

You can also order articles to download from the internet. One article discusses the implications of internet banking on mortgage lending. Another article claims that internet banking has forever changed mortgage banking.

It takes diligence to find pertinent information on internet banking. Much of the information is too outdated to be of any usefulness. A lot of it is written in complex banker’s language and words only an internet guru would love. However, there are some books that are interesting to read about the subject of internet banking.

Solving The Compensation Quagmire A Total Rewards Approach In Today’s Banking Environment

By any measure, the banking industry is facing challenging times. From a financial perspective, there has been a

dramatic decline in the performance of the banking marketplace. From a human capital perspective, it’s more important than

ever to have an engaged and high performing workforce. Banks are competing for talent at all levels of the organization and

must be diligent in developing compensation programs that attract, motivate and retain a high performing workforce. How can

banks develop and manage compensation programs that reward employees for the bank’s financial performance in this challenging

banking market and, at the same time, be effective in recruiting, motivating and retaining the key talent necessary for the

bank’s success?

A successful total rewards program should be designed to balance the needs of the organization with the needs of the

workforce. While designing a program can be challenging, it does not have to be daunting. Leaders must first identify the

needs of its workforce and then work to develop a total rewards approach that best meets these needs and fits with the

culture of the organization. To start, employers should take a holistic view of compensation, while considering the following

steps:

Step 1: Develop Compensation Philosophy a clearly defined compensation philosophy is the foundation from which a

compensation program should be built. In defining a philosophy specific to your organization, ask:
Where does the bank want to stack up relative to its peers?
What is the right “mix of the total compensation package?
Does it support the business strategy?
Is it aligned with shareholder and stakeholder interests?

Step 2: Determine which total rewards components best fit the organization and the workforce consider salary, bonus,

benefits, awards and recognition programs. What do employees really want? Employees want to feel valued, fairly compensated

and distinctly rewarded and recognized for their contributions to the organization.

Step 3: Review the effectiveness of current pay-for-performance programs. Are they achieving the desired results and

behaviors? In developing or reviewing your existing incentive plan(s) consider the following:

Objective of the plan(s) (e.g. reward for short-term vs. long term-performance)
Is it aligned with the bank’s strategic and business plans?
What are the internal and external influences?
What performance should it reward?
Does it reward high achievers significantly more than others?
Goal setting do the goals still make sense?
Are individual and department goals aligned with the overall strategic plan?
How will performance be assessed? What are the right measures?

It is also important to review the organization’s performance evaluation process to ensure that it is consistent across the

organization, accurate and objective. Employees want equitable evaluations. Again, it’s about employees feeling that they are

valued and treated fairly.

Step 4: Communicate, communicate, communicate. Make certain that all compensation programs are easily understood and well

communicated. Demystify plans so that employees understand how compensation is determined. Employees care just as much, if

not more, about how their pay is determined as what their pay is. When compensation plans are openly and frequently

communicated, employees tend to feel that they are being fairly compensated.

Specific to pay-for-performance plans, make certain that managers and employees have a solid understanding of how the plans

work:

Are the goals clear? Is there a clear line of sight?
Do employees feel empowered to meet goals?
Are there rewards for achieving individual and department goals?
Do employees understand the connection of their contribution to the bank’s success?
Is there a system to track results and provide feedback on a regular basis?

Meeting the needs of employees is not only about compensation. Other highly valued components include career development

opportunities, employee recognition and non monetary rewards, such as flexible work arrangements. In fact, it can be argued

that without these important components, even the most rewarding compensation package is not enough to recruit, motivate and

retain your valuable human capital.

Read Banking Labour Law Books Ca Cs Mba Books At Online Book Store

How an Online Book Store can be defined?
An online book store is nothing but a website owned by a dealer of various types of books like books on banking, law, taxation, labor law, CA, CS, MBA etc. Also online book stores usually maintain in accordance to the market they serve.
Reading knowledgeable books is a good habit to everyone. Books are a great source to get information on any topic or subject. Reading books is some peoples hobby too, they can spare a long time reading some informative books.
The Internet is a great source where you can find adequate and relevant information on any topic or subject. Buying books online is much easier and full of fun than purchasing books from on-road books shops. Online Buying of books not only save your time but also the physical exertion and money you spend while traveling to purchase books from the regular bookstore. Thus, buying books online is more advantageous than buying books from regular shops. As buying books online is fast, accurate, takes less time.
Bookcorporation is one of the leading book store of law, taxation, labor law, CA, CS, MBA etc. It has a wealth of books with considerable strengths in the law, Direct Taxation, FEMA, SEBI, Banking, Service Tax, Central Excise, Customs, Import, Export, etc. It aims to be the book store of choice for students, lawyers, Engineers, businessmen, labor etc.
Labor law books available online are full of information and updated labouring rules/laws which help to business and other industries. You cannot take any type of labour work from child under 14 years age, because this comes under the law. All such laws are fully explained in these law books. Books provide guidelines to us in all fields/areas for business or commercial point of view.
Another advantage of buying books online is the impressive discount offered by the online bookstores. Due to reduced cost of maintaining a physical store and paying the salesmen, you can get discount books online as well as a large collection of books too.
You have to very careful during search for online books, such as price and the right author name of the book etc. The same text book is sold at different prices on the Internet. So, you need to search various online shops that sell the same text book. You will experience the difference in prices by some book sellers for the same book or title. You can save some money by visiting some great online book stores online. Moreover, you don’t need to waste your time searching for the textbook in your local store.

Which Is Better Onshore Or Offshore Banking

There are a lot of factors that made onshore banking as well as offshore banking different. Although they all have their own features and advantages, one is always better than the other. It is really hard to choose sometimes because of lack of knowledge regarding which is good and which works for you. Here are some questions that surely have crossed your mind as well as answers to help you decide on what to pick.

Which one would reduce your tax?

Onshore banking is subject to the tax and foreign exchange rules of the country in which the account is held, and depending on the size of your savings, and the tax regime of your onshore jurisdiction, the price you pay is likely to be fairly high if your savings are ‘considerable’. Therefore, if you are interested in reducing your tax exposure, and in relatively higher confidentiality levels, it would make sense to examine the possibilities available to you offshore.

Would you use an offshore bank account if you are with an onshore savings already?

Onshore banking is subject to the tax and foreign exchange rules of the country in which the account is held, and depending on the size of your savings, and the tax regime of your onshore jurisdiction, the price you pay is likely high if your savings are ‘considerable’. Therefore, if you are interested in reducing your tax exposure, and in relatively higher confidentiality levels, it would make sense to examine the possibilities available to you offshore.
Sure it is always advisable to stick to the one you are used to but if changes will alleviate everything then why would you settle for less?

How long does it take to open an offshore/onshore account?

Most of the time it is easier to get an offshore accounts rather that an onshore account because there would be lots of requirements needed for processing on onshore banking. Signature Card With an onshore account you must provide notarized specimen signatures, notarized copy of passport or drivers, license, bank reference, utility bill/s showing residential address and many others. This is a very exhausting list isnt? But you need not to worry because many offshore institutions do not require all of the mentioned documents, or require them in different combinations, but this is normally well documented in their brochures.

How secure is my money? Isn’t it more risky to invest/bank offshore?

It is definitely not risky. It is always better to regard offers and institutions which seem too good to be true’ with suspicion, as they generally are! You should begin your research with well established institutions to give you a frame of reference regarding industry standards, and regard with skepticism interest rates or benefits which seem exceptional’. Also, check that the reputation of the bank that you are planning to deal with is good
Finally, bear in mind that even as taking advantage of existing legislation to legitimately minimize your tax burden with a reputable service provider presents very little risk, unreported offshore activity for the purposes of tax evasion is risky. Some offshore jurisdictions have deposit protection system.

With an offshore bank account, you can be rest assured that there is no information that will be provided for those who would like to investigate or learn your banking status. With an offshore account, it is clear that confidentialities are like norms that should be strictly followed.

Will I able to deposit and get access to my money fast?

Depending on your needs, there are many ways of obtaining access to your money. This can be done by post, courier, fax, telephone, over the internet or bank wire transfer. By having an offshore debit card you can then also easily access your bank account on all ATM machines.

How does an offshore debit card works?

Debit Card works in the same way as a Credit Card for purchase transactions at Merchant Outlets, with the only difference being that the cardholder will be able to spent only up to the balance available in the account thus making it batter than a credit card for it will not lead the owner onto serious debts. Because the owner of the card will just use his own money he will not be subjected for any high rates that a credit will give.

2GetCash offshore debit card is one of the most convenient and reliable offshore debit cards. Through this, you can easily have an access to your bank account at the same time calling your love ones abroad at very low rates.