A Taste of Concord
State lawmakers accepted public testimony this week on numerous pieces of legislation of interest to the NHBA. The Senate Banks & Insurance Committee talked about a bill to study ways of limiting the solicitation of credit cards on college campuses. The sponsor acknowledged that there's probably no way to prevent college students from getting credit cards and ruining their credit histories, if that's what they're intent on doing. Senator Johnson said that he would like the bill to pursue ways of educating young people about responsible use of credit. In the House, the Commerce Committee considered a bill to require banks to hold $1 in reserve funds for every dollar of time and savings deposits they hold. The NH Banking Department opposed the plan, since it would essentially force all state-chartered banks to convert to national charters. The Commerce Committee also considered several mortgage-related bills, which are likely to face further discussion. The best way to stay up to speed on all the activity in Concord is to read the NHBA's weekly Legislative Bulletin. Contact Julie Messier at 224-5373 or jmessier@nhbankers.com to put yourself on our mailing list.
Congress Looks at Check Holds
Could this be the other Check 21 shoe about to drop? Chairman Mike Oxley and several other GOP members of the House Financial Services Committee sent a letter to the Federal Reserve and our national trade associations recently asking them to explain when consumers would enjoy the fruits of more efficient check clearing processes created by the Check 21 Act. Oxley says "many people have voiced concern that banks will benefit from the increased speed of delivery, but that there will not be a corresponding reduction in the amount of time that consumers wait for checks to clear."
Bombs, Bucks & Banks
Nationally, the top congressional issues for 2005 are the war in Iraq/terrorism, social security reform, and affordable health care. All three will eventually touch banking. Banks have been enlisted as financial sentries in the war on terror. It's a role we accept, but we need clarity regarding BSA compliance. Discussions on Social Security reform and the cost of health care both rely on special deposit products and the participation of the banking industry. These alone will be tricky matters, and we haven't started talking about "banking" legislation, yet.
About Maria...
The happy part is that there are still people like Maria Kater in the world. The sad part is that Maria being herself is worthy of front page newspaper articles and TV network news stories. The Manchester Union Leader reported this week, (and many others re-reported), that she did an odd thing when she came across an ATM machine spewing $20 bills. She returned it. The obvious presumption is that most people would make like Billy Joe and Bobby Sue and take the money and run. Ms. Kater is a cleaning lady, and was working alone in the cafeteria of a Manchester building Monday night when she noticed the ATM disgorging itself. Maria took the money to the receptionist at a nearby business, where they counted the $1,320 together. When they returned to the cash machine, it had resumed its slot machine impersonation, bringing the total payout to about $1,500 before they unplugged it. "I'm an honest person," Ms. Kater told the Union Leader. "It's not worth losing my job over, and I wouldn't be able to sleep at night." The ATM owner said there is no camera on the non-bank cash machine, or in the area where it stands, so she could have taken the money, which Maria said, was about a month's pay for her. Thank you, Maria, for being you.
New Hampshire Bankers Association 122 North Main Street P.O. Box 2586 Concord, New Hampshire 03302-2586 For more information on above items: call (603) 224-5373, fax (603) 224-3381 or E-Mail jlittle@nhbankers.com. |
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