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A Conversation With Dennis T. Cardello
Saturday, September 30, 2006 (2241 reads)

Dennis T. Cardello is president and CEO of Collinsville Savings Society headquartered in Canton. He has more than 30 years of banking/business experience. He joined Collinsville Savings Society in March 2002 with a vast and diversified banking background. He is active in the industry, currently serving on the Connecticut Bankers Association’s executive and legislative committees, and is a past president of the Connecticut Community Bankers Association. Cardello is very active in the community, currently president of the Canton Chamber of Commerce, a past board member and current corporator of the American School for the Deaf, on the board of directors at the Max Shepard Memorial Arts Foundation, treasurer of the Collinsville Arts Initiative and a eucharistic minister at St. Patrick Church, Collinsville.

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Committee Can Help Manage Compliance
Saturday, September 30, 2006 (2659 reads)

As the focus on compliance increases, bank executives should rethink their compliance management structure – and strategy. The goal should be to find the most cost-efficient ways to ensure that the ever-rising expectations of regulatory authorities are met.

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Suspicious Activity Reports and You
Saturday, September 30, 2006 (1465 reads)

Did you ever wonder what happens to all of those Suspicious Activity Reports (SARs) that you are required to file? Do they disappear into some bureaucratic black hole, never to be put to any useful purpose? Well, you’ll be pleased to learn that your efforts in completing timely and thorough SARs have been providing extremely valuable tools to state and federal law enforcement agencies right here in Connecticut.

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A Tougher Bank Secrecy Act
Saturday, September 30, 2006 (1232 reads)

For the last couple of years, Bank Secrecy Act compliance headlines have focused on big banks, big fines and high-profile violations. Recently, however, we’ve been seeing a quiet but definite shift in examiner attention.

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Que Pasa? Learning Spanish Online
Saturday, September 30, 2006 (1482 reads)

At elearn, the company that provides online learning capabilities to the Center for Financial Training Atlantic States, a new and unique product was recently launched: Online Spanish for Front-Line Staff.

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An Opportunity to Serve
Saturday, September 30, 2006 (1354 reads)

I consider it an honor to conclude my 39-year banking career as the chair of the Massachusetts Bankers Association. I never imagined when I started at the Warren Five in Peabody in 1968 that I would be where I am today. I feel very fortunate to have worked with so many great bankers over the years and I look forward to my year working with all of you as your chairman. I thank you for your confidence while acknowledging the many important tasks at hand. The Massachusetts Bankers Association is highly respected in our industry because of the leadership provided by Dan Forte and Kevin Kiley, supported by a dedicated staff of professionals and committed volunteers, and I look forward to a productive year ahead.

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Bird Flu and Your Bank
Saturday, September 30, 2006 (1196 reads)

Banks are no strangers to crises. From bank robberies to the possibility of terrorism, banks have had to deal with threats to the well-being of employees, customers, and the overall institution. That, of course, is why banking regulators place a considerable amount of emphasis on business continuity planning.
The latest threat to bank operations is the well-publicized specter of an avian influenza (AI) or bird flu pandemic, which was the subject of an MBA Special Bulletin dated April 27, as well as an Interagency Advisory on Influenza Pandemic Preparedness dated March 15. 

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Room to Grow
Saturday, September 30, 2006 (1402 reads)

If you build it, they will come. We’re not talking about a baseball diamond carved out of a cornfield to lure baseball immortals back for one last game. We’re talking highway systems that attract industry, shopping malls, and a plethora of other job-producing enterprises. We’re talking phenomena like Route 128, the nation’s first “Technology Highway,” which now boasts hundreds of firms lining its ribbon around Boston.

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Credit Lenders and NJBA Form Partnership
Saturday, September 30, 2006 (1322 reads)

Credit Lenders Service Agency Inc. is very excited to become the endorsed vendor of the NJBA Service Corp. for flood zone determinations. This is a great opportunity to share our expertise and industry-leading technology with NJBankers members.

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Do Not Forget About D&O During M&A
Saturday, September 30, 2006 (1633 reads)

Mergers and acquisitions are becoming more and more common in the banking industry, and anyone who has been through one will attest to the fact that they present numerous challenges. There are countless due-diligence concerns and personnel matters that must be addressed, not to mention all of the internal and external communication demands. One equally important item, however, always seems to get lost in the shuffle during these hectic periods – your Directors and Officers liability policy. 

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New Jersey Attacks Gift Card Fees
Saturday, September 30, 2006 (1119 reads)

Many of us have received or given gift cards or gift certificates. However, some donors and recipients have been shocked to learn that “dormancy” fees have piled up over time and have erased the value of the card or certificate. Or, the recipient lets the card or certificate lay unused and when it is finally presented, the recipient is unhappy to learn that it has expired. The surprise reduction in value or unexpected expiration of the card or certificate can trigger angry complaints.

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NJBankers’ Team in Trenton
Saturday, September 30, 2006 (1424 reads)

Editor’s Note: In the summer 2006 issue of New Jersey Banker, we interviewed the new leadership team at the New Jersey Department of Banking and Insurance. In this issue we focus on NJBankers’ government relations team in Trenton, Vice President and Director of Government Relations Robert J. Tartaglia and Legal Counsel Mary Kathryn Roberts of Riker Danzig, who have represented the association in Trenton for more than three years.

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The Real Phishing Threat – Your Customer Data
Saturday, September 30, 2006 (1189 reads)

Are you frightened by phishing attacks? Given the media attention and frequency of e-mails claiming that your Paypal account has been compromised (even if you don’t have a Paypal account!), the hairs on your neck are probably at full attention right now.

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Dedicated Funding Formula Perplexing
Saturday, September 30, 2006 (1495 reads)

Department of Banking and Insurance Agrees to Working Group

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Foreign Lottery Scam Bilks State’s Seniors
Saturday, September 30, 2006 (3170 reads)

Editor’s Note: The following article was originally published on March 28, 2006, in The Press of Atlantic City and is reprinted here with permission. It provides valuable information about a lottery scam targeting senior citizens that bankers can share with their customers. NJBankers operates FinCrime, an Internet-based financial crimes reporting, tracking and alerting system that can be useful in helping to prevent such scams from proliferating. Information about FinCrime is available from

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NJBankers 180 Days After the Convention
Saturday, September 30, 2006 (1134 reads)

I consider it an honor to have been elected as the 2006-2007 chairman of NJBankers. When I was asked to be on the board of trustees several years ago, I never dreamed that the appointment would lead to the position of chairman. Observing the leadership of our immediate past chairmen Jim Hyman and Ted Bessler during my past two years in the chairs, I am aware of the time and effort that is needed to be an effective chairman and I have prepared my schedule accordingly. I, like my predecessors, have every intention to meet the goal of providing value to the members of our association, but before I get into the specifics of the plan to bring our organization from “good to great,” I wish to thank several individuals for their part in this venture.

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The Myth of Summer
Saturday, September 30, 2006 (1636 reads)

Remember as a kid, you just couldn’t wait until school was out so you could live a fancy-free existence – no daily class routines, no homework, no tests, just a life of summer leisure? In the workplace, some carry over their sense of summer fun from childhood as they look forward to vacations – time with the family, time to break away from the daily routine. Nice if you can do it!

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TransPromo Builds Customer Relationships
Saturday, September 30, 2006 (1541 reads)

Is your bank communicating effectively with your customers? Every bank wants to answer affirmatively, but a survey of your customers may tell a different story.

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Avian Influenza
Saturday, September 30, 2006 (1307 reads)

Avian influenza cannot be diagnosed by symptoms alone, so a laboratory test is required. Avian influenza is usually diagnosed by collecting a swab from the nose or throat during the first few days of illness. This swab is then sent to a laboratory, where they will either look for avian influenza virus using a molecular test, or they will try to grow the virus. Growing avian influenza viruses should only be done in laboratories with high levels of protection. If it is late in the illness, it may be difficult to find an avian influenza virus directly using these methods. If this is the case, it may still be possible to diagnose avian influenza by looking for evidence of the body's response to the virus.

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Banks Hike Competition for Small Business
Saturday, September 30, 2006 (975 reads)

America’s banks are stepping up their competition for small-business accounts, but it’s going to take a lot more than electric toasters to woo them. Only one in 10 small-business owners have switched principal banks in the last three years, according to a National Small-Business Poll recently released by the National Federation of Independent Business Research Foundation.

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Maine’s Homes Sales Down in July
Saturday, September 30, 2006 (1024 reads)

According to the Maine Real Estate Information System Inc., Realtors statewide sold 213 fewer homes in July 2006 than in July of 2005, a decrease of 16 percent.

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Moving Away From the ROH
Saturday, September 30, 2006 (1072 reads)

Another summer concludes and the annual transformation of households begins: packing college students for another year away from the Rules of Home (ROH)! Your immediate reaction must be, why not highlight events at the Pinkham household? After all, the parents have survived (just barely) a summer with two 20-year-old males (in a world of 21-year-old males and females). They packed up the U-Haul with smiles that compete with the Staples commercial of recent years showing parental jubilation at the thought of returning their brood to life on campus. It must be time to return to the classroom, to dorm life and away from the ROH.

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Bank Location Is Key for Small Businesses
Saturday, September 30, 2006 (1459 reads)

Bank Web sites with lots of bells and whistles may appeal to some, but they are just window-dressing as far as the nation’s small-business owners are concerned. Only half do any Internet banking, according to a recent National Federation of Independent Business “National Small-Business Poll.”

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Bird Flu: It’s Time to Prepare
Saturday, September 30, 2006 (1134 reads)

Jack died last night. Now what? The first person to die from the long-predicted, dreaded pandemic is someone from your town, a 45-year-old customer named Jack, a local businessman just returned from Singapore. Today is Wednesday; Jack died last night. Jack was in the bank last Thursday and Friday – depositing a check at the teller window, checking in with the loan department on a real estate tax escrow issue and dropping off something to his sister-in-law who works in back-office operations.

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Making Your Loan Portfolio More Profitable
Saturday, September 30, 2006 (1953 reads)

Tell a room full of bankers that they can improve their bank’s return on assets by 20 to 40 basis points by initiating a commercial loan pricing strategy which requires a minimum pricing standard, and they cheer. Then they go home and continue approving loans which negatively impact their profitability, making those 0.85 to 1.25 ROA loans as usual.

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