GLG News by Sub-Prime Lending Experts

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

The New Normal Ab-Normal

August 14, 2010

Analysis of:The Point of No Return | www.theatlantic.com

The New Normal Ab-Normal has begun - we must go forward with better intel and more of a focus on preservation of capital v risk reward.My thoughts on the potential impacts on capital flows and more specific on European real estate either way should issues remain on the current course, if an Israeli air strike could unfold, are very bleak in any outcome other than peace.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

Is Congress Anti; Social Security & Small Business?

August 4, 2010

If Congress is Anti; Social Security & Small Business- then the entire Global Economy going forward for the next century will be under duress.

Duncan MacDonaldConsultantDuncan McDonald

Ominous study by Boston FRB on credit card interchange pricing

July 29, 2010

Analysis of:FRBB Public Policy Discussion Papers | Who Gains and Who Loses from Credit Card Payments? Theory and Calibrations | www.bos.frb.org

The study by the Federal Reserve Bank of Boston is a threat to the bankcard industry. Although it focuses only on credit card interchange, which it criticizes quite strongly, it could influence how the FRB in D.C. will regulate debit interchange per the Durbin amendment in the new bank reform law. To my knowledge, it is the first time the fed has ever condemned interchange pricing. The study says credit interchange results in a significant monetary transfer from cash customers to cardholders.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

Cycling for Dollars - Tour de France

July 18, 2010

Running from Saturday July 3rd to Sunday July 25th 2010, the 97th Tour de France will be made up of 1 prologue and 20 stages and will cover a total distance of 3,600 kilometres. Versus cable television and Versus.com will provide extensive coverage of the 2010 Tour de France.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

D&B DUNS Number Assignment

June 29, 2010

Most SBA lending programs require a duns for US Government Contractors & Grantees for submitting grant and loan applications.

Duncan MacDonaldConsultantDuncan McDonald

Smoot Hawley Redux: The new Consumer Financial Protection Agency

June 28, 2010

Analysis of:Lenders prepare for wide changes under Consumer Financial Protection Agency | www.ft.com

The key quote in the article, from a bank trade association executive, says the CFPA is "the single most damaging provision in the legislation" to reform the retail banking system. In fact, the new agency's powers are as extensive as any given to any agency in US history. They literally give the CFPA a life and death power over every product and process in the retail banking system. The only questions that remain are who will head it, how broadly will it be enforced and what will it cost?

Duncan MacDonaldConsultantDuncan McDonald

By how much will bank reform reduce debit interchange fees?

June 28, 2010

Analysis of:Interchange Measures May Cost Banks More than $5B - American Banker Article | www.americanbanker.com

The Banker estimates that the FRB could interpret the reform law to justify debit interchange fee reductions in the 50% range (or more) from current levels or about $5B per year. Is the Banker's guess on target? Will the FRB squeeze a key revenue scheme that could hurt dampen spending and consequently harm card issuers and cardholders?

Duncan MacDonaldConsultantDuncan McDonald

Bankcard pollution spreads across retail system

June 17, 2010

Analysis of:End Is Seen to Free Checking | online.wsj.com

The article covers the natural consequences of the bankcard meltdown that produced last year's draconian CARD Act and this year's threat to debit interchange fees. Essentially, both require that fees for a late payment and merchant debit interchange be reasonable and proportionate to the card issuer's fixed operational costs. By reducing revenues, they force issuers to reduce other costs and find new fees. Hence the article's emphasis on new deposit account fees and forced account closings.

Duncan MacDonaldConsultantDuncan McDonald

Is Congress going to dilute the Durbin interchange amendment?

June 11, 2010

Analysis of:Senate Holds Reg Reform Conference s Upper Hand - American Banker Article | www.americanbanker.com

A small part of the article focuses on the controversial bankcard interchange provisions in the bank reform bill now before a joint House-Senate reconciliation committee. Interestingly, it has quotes from the committee leaders that hint there will be adjustments. Rep. Frank states that "some of the provisions" of the amendment will survive and Senator Dodd says "modifications will be coming." But how so: simply by writing the provision more clearly, or toughening or diluting them?

Duncan MacDonaldConsultantDuncan McDonald

Will bank reform conference committee dilute Senate bill?

May 26, 2010

Analysis of:Democrats Reg-Reform Conference Choices Bode Ill for Banks - American Banker Article | www.americanbanker.com

The article reports that the conferrees chosen so far to sit on the joint Senate/House committee to finalize bank reform legislation is weighted toward the left -- toward opponents of bank interests, in effect, toward a tougher anti-bank result.

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