http://bsgfinancial.typepad.com/fly_on_the_wall/ What we learn everyday at BSG Financial. en-US Fri, 18 Dec 2009 11:49:19 -0500 http://www.typepad.com/ http://www.rssboard.org/rss-specification typepad/flyonthewallhttp://feedburner.google.com http://bsgfinancial.typepad.com/fly_on_the_wall/2009/12/free-download-bsg-financials-2010-recession-calendar.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/12/free-download-bsg-financials-2010-recession-calendar.html Yes. 2009 has been a tough year for everyone. But who says you can't prosper in a recession? Download BSG Financial's 2010 Recession Calendar. Hang it on your wall. Read about companies that boldly opened their doors during economic downturns and still achieved great success. Learn hints and tips to surviving the "doom and gloom" economy. We hope it brightens each of your days in 2010...no matter how the year unfolds! If you would like a printed version of the calendar, please send an email with the subject line "Recession Calendar" to Hank Thompson, at hthompson@bsgfinancial.com. Be sure to include... BSG Financial Fri, 18 Dec 2009 11:49:19 -0500 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/11/unintended_consequences.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/11/unintended_consequences.html So... what if every financial institution in the country agreed to--on the same day--return ALL of their customers' overdrawn items? (Consider it a test of what might happen.) How do you think your customers would react to being charged an overdraft fee, PLUS a returned check fee, AND possibly a late fee? Based on the Senate and House bills as they are written, most banks will have to resort to becoming a "return-all" bank, as in the scenario above. And this is apparently what the legislators in Washington think your customers want. So maybe we should select a day and... Company News Current Affairs Current Issues Customer Service Industry News Overdraft Protection BSG Financial Wed, 25 Nov 2009 09:48:35 -0500 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/11/overdraft-action-produces-opportunity-reaction.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/11/overdraft-action-produces-opportunity-reaction.html It's no secret that your financial institution's earnings are at risk. The overdraft programs that generate a large portion of a bank's income are under attack. (See related New York Times story here.) Although most legislative bills are initially written in the harshest terms possible, then amended to a softer stance, it is BSG Financial's belief that overdraft programs as we know them will be significantly changed. In fact, much of the overdraft income you enjoy today may be legislated away. And with the proposed consumer warnings and options, many of your customers may opt out of the overdraft program.... Current Issues Electronic Check Recovery Income Generation Industry News Overdraft Protection Strategic Planning BSG Financial Mon, 09 Nov 2009 16:04:59 -0500 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/10/review-dda-chargeoff-percentage.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/10/review-dda-chargeoff-percentage.html Most financial institutions are looking for ways--now more than ever--to increase or, at the very least, stabilize profitability. One place to start is to review the number of DDA accounts that you charge-off per year, as compared to your insitution's total DDA accounts. If the charge-off percentage is above 8%, you may want to investigate why. BSG Financial has found that financial institutions with charge-off percentages above 8% may have overdraft programs that are not operating at their full potential and could be "leaking" income. An overdraft program that offers pre-charge-off routines, such as automated letters and phone calling, can... Customer Service Income Generation Industry News Overdraft Protection BSG Financial Fri, 09 Oct 2009 15:50:54 -0400 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/09/dont-pile-onoffer-business-customers-a-service-for-free.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/09/dont-pile-onoffer-business-customers-a-service-for-free.html According to a news release on yesterday's BusinessWire, fees on business checking accounts have risen 10.3 percent in 2009. This isn't much of a surprise, of course, since many financial institutions have had to increase fees for services this year simply to stay afloat. Especially now--when everyone feels like they're paying the price for the struggling economy--wouldn't it be nice to offer your business account holders a valuable service that will increase their cash flow... for FREE? No strings attached. No fees. Not a problem, with BSG Financial's Re$ubmitIt electronic check recovery program for business account holders. The program--which also... Company News Current Issues Electronic Check Recovery Income Generation Industry News BSG Financial Thu, 10 Sep 2009 11:42:47 -0400 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/09/review-of-overdraft-program-could-uncover-found-money-1.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/09/review-of-overdraft-program-could-uncover-found-money-1.html It's no secret that most financial institutions are looking for new ways to boost income. But before you unleash the new product development hounds, don't overlook the tried and true programs--like overdraft protection--you already have in place. With a few simple tweaks to this program, you could potentially double your income. BSG Financial offers a COMPLIMENTARY, no-obligation Overdraft Review to determine if your program could be earning more income and better serving account holders. The results of Review may confirm your overdraft program is working to its fullest potential. Or we may uncover "found income." Either way, you have nothing... Company News Expense Management Income Generation Industry News New Products Overdraft Protection Strategic Planning BSG Financial Thu, 03 Sep 2009 13:30:22 -0400 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/08/fdic-insurance-premiums-who-picks-up-the-tab.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/08/fdic-insurance-premiums-who-picks-up-the-tab.html Earlier this year, FDIC Chairman Sheila Bair warned that the banking industry would possibly face additional deposit insurance premiums by yearend. "We think there is a good probability that we will have to do another special assessment in the fourth quarter," she said in May. Based on the number of bank failures since then (43 banks, with $41 billion of assets), the 'probability' looks more like a certainty in order to replenish the Bank Insurance Fund. How will you pay for these additional assessments? Whether you're looking to increase income or decrease expenses, BSG Financial can help you 'pick up... Current Issues Electronic Check Recovery Expense Management BSG Financial Thu, 20 Aug 2009 10:03:09 -0400 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/08/too-scared-to-tweet.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/08/too-scared-to-tweet.html Facebook. Twitter. LinkedIn. Is your financial institution contemplating marketing via social media? Or are you concerned about opening yourself up to criticism, or worse, litigation? Lawyer Kevin Funnell has this to say on his Bank Lawyer's Blog: I think that much, perhaps most, of the concern about the legal risks of social media marketing by financial institutions arises from the understandable fear of the unknown. The media is relatively new, banks are traditionally conservative, and lawyers are risk mitigators, not risk takers. Thus far, banks are experimenting with the media, and 'the jury is still out.' In other words, many... Current Issues Marketing Social Media BSG Financial Tue, 04 Aug 2009 13:11:28 -0400 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/07/us-consumers-need-more-financial-education.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/07/us-consumers-need-more-financial-education.html According to a December 2008 study from the Center for Economic and Entrepreneurial Literacy (CEEL), there is a need for increased education on personal finance and economic issues. The national survey showed that a disturbing number of Americans are unable to answer simple questions about borrowing, interest rates and even basic math. Many respondents also admitted to making poor decisions with their own finances. Highlights from the survey include: 54% of respondents could not identify what a subprime mortgage was. 56% of respondents could not identify FICO score as the most important factor in getting a loan. 65% of respondents... Current Issues Industry News BSG Financial Mon, 20 Jul 2009 16:10:33 -0400 http://bsgfinancial.typepad.com/fly_on_the_wall/2009/06/personal-savings-at-highest-point-in-15-years.html http://bsgfinancial.typepad.com/fly_on_the_wall/2009/06/personal-savings-at-highest-point-in-15-years.html From The New York Times this morning-- The GOOD NEWS: personal incomes rose sharply in May. The BAD NEWS: many people are putting their money away instead of spending it. So, what does this mean for the economy? According to the article: Although saving money helps individuals repair their finances and pay debts, a sharp rise in overall personal saving can actually deepen a recession and hurt the people who are saving more. As people save money, fewer dollars circulate through shopping malls, Main Street businesses, and large employers and subsequently back to workers through their paychecks. This thrift pulls... Current Affairs Current Issues Industry News BSG Financial Mon, 29 Jun 2009 14:18:36 -0400