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Month of the Military Consumer

 

July 27, 2016 - Just about anyone can recognize that our nation’s military is one of the paramount factors that has led our country into its stable, sovereign current state. In fact, the word “military” itself has become paralleled with patriotism, loyalty, sacrifice, and honor. Despite the devout actions of soldiers who put their lives on the line to keep our nation safe, many fraudsters see servicemembers’ frequent relocation and deployment as opportunities for scams. Thankfully, the Department of Justice, the Department of Defense, the Department of Veterans Affairs, and other agencies across the federal government work in collaboration to fight the unjust fraud aimed at servicemembers and veterans. However, ordinary people are also getting involved in the initiative to protect military consumers – which is why July is the Month of the Military Consumer.

The goal for the Month of the Military Consumer is, you guessed it, to raise awareness about identity theft crimes impacting soldiers. Throughout the month, communities have offered fairs, question-and-answer sessions with financial counselors, free credit reports to military families, and other resources to promote better-informed financial decisions for both military families and the general public. After July, people can remain involved and versed by visiting Military.Consumer.gov and following the FTC’s military consumer education team on Twitter (@milconsumer). #’Murica.

By: Brittany Levy

Ban on Payday Lending

   July 20, 2016 - Technology company, and internet search powerhouse Google is so Iconic that the name has been converted into a transitive verb meaning “look it up.” To fund such an expansive operation Google relies on advertising for around 90 percent of its total revenue.  This is why the company’s May 11th announcement to ban advertisements from payday lenders came as something of a surprise.

    The term “Payday Lenders” refers to companies that offer short-term, high-interest loans. Google has previously standing restrictions on where such ads can be placed, but beginning July 13th, this new prohibition will completely ban ads with terms of 60 days or less, and in the US, ads for any loans charging an Annual percentage rate (APR) of 36 percent or more. The ban does not limit the appearance of such loans in the results of a targeted google search. In a statement released on the company blog, there was a brief statement about the purpose of the new rules; “Research has shown that these loans can result in unaffordable payments and high default rates for user.”

    Supporters have commended Google’s decision, but there are of course those directly affected by the changes who criticize the policy as being biased and inequitable. 

By:Christine Belusko

Source: https://publicpolicy.googleblog.com/2016/05/an-update-to-our-adwords-policy-on.html                                            

 

Educating the Whole Employee

July 13, 2016 - Cura Personalis is more than a phrase from a dead language; it is a business motto to live by. Cura Personalis is Latin for “care of the whole person.” Many Jesuit institutions and universities reinterpret this term to mean “education of the whole person.” This might seem a little odd. Aren’t all training programs, whether in academia or in the business sphere, built with this idea in mind? The important distinction to note is the whole person.

Good training programs operate from a transactional perspective, ensuring all employees are knowledgeable enough in a subject matter to carry out their daily responsibilities. This is your bread and butter; it is training a teller in cash handling procedures and feeling confident they know how to manage the cash drawer. Great training programs operate from a transformational perspective, which focuses on educating the whole person and effectively cross trains them in various subjects. It is teaching a teller how to hone their people skills, how to anticipate a customer’s needs, how to communicate exciting sales initiatives to members.

Programs that operate from a transformational perspective are ones that invest time and resources into employees in order to cultivate their potential. They develop professional skills sets that live outside the scope of the job description, and they reap the rewards for doing so as employee turnover rates decrease and employee satisfaction increases.

Want to spice up your training with a transformational approach? Consider adding these topics to your training agenda.

4 Topics to Train Employees on

1. Business Communication and Writing Skills

The ability to communicate clearly is invaluable in the workplace. It creates synergy in the workplace and keeps team members on the same page. With technology trends changing everyday it can be hard to keep up. We recommend training employees on how to effectively use Email and Social Media. Equally important is the face-to-face side of the communication spectrum. You can be a tech wizard, but have zero people skills. Empower your employees by teaching them interpersonal, face-to-face communication skills. Your clients will appreciate your team member’s active listening skills, and your co-workers will benefit from learning effective presentation skills.

2. Microsoft Office Skills

Microsoft Office products are a staple of the business world. Anyone can open a Microsoft Word document and start typing, but at the end of the day you will have a better product to present to your clients if your employees have the opportunity to learn the ins and outs of formatting a document’s appearance and customizing. Open new horizons by offering in depth training take teaches Microsoft Office Skills like incorporating multimedia elements in PowerPoint, filtering cells and creating formulas in Excel, and tracking changes in a Word document.

3. Management and Leadership Development

Equip your employees for success by teaching them how to be effective managers and leaders. Effective managers know how to communicate. According to Forbes author Susan Tardanico, good communication is all about talking in a clear, credible, and authentic way. So teach your management team to lose the technical jargon, and use clear terms coworkers and clients can easily understand and act on. Being clear wins over a fancy vocabulary every time. Start practicing this skill with managers by having them role play or by take online training that focuses on how to clearly convey expectations to their team, how to establish a strategic vision, and how to action plan.

4. Professional Development

Create a space for your employees to grow as a professional and as an individual. We recommend having a strong focus on enhancing an employee’s problem-solving and decision making skills. Employees flourish when their critical thinking skills are reinforcing and trusted in the workplace. When planning your next round of training, think about adding these elements: recognizing and tackling a problem, thinking creatively, brainstorming, and developing emotional IQs.

Edcomm Banker’s Academy is passionate about educating the whole person! We offer Profession Skills training on all of the above areas and more. Please reach out to us if you would like to learn more about our approach to training and how it can benefit your employees.

Sources

Ingram, David. “Transformational leadership vs. transactional leadership definition.” Chron Small Busnesses. N.d. Web. 28 June 2016.

Tardanico, Susan. “5 Habits of Highly Effective Communicators.” Forbes. 29 November 2012. Web. 28 June 2016.

by: Madelyn Fagan

 

Impact of the USA PATRIOT Act

July 5th, 2016. - Roasting hot dogs and hamburgers on a charcoal grill. Sipping pink lemonade from a blue and red striped plastic straw. Wearing the new 2016 limited edition Old Navy American flag shirt that magically fits just right on every body type. The smell of your sunscreen soaked skin. The squeal of excited children. The sharp intake of breath you inhale as the first firework whistles sky high and shatters into brilliance. We hope your Independence day celebration was full of these fond memories.


As you bask in the warm glow of good will and patriotism, take a moment to honor the women and men who fight for our freedom every day. The troops in Afghanistan, Iraq, and Syria. The Navy officers in undisclosed locations at sea. The decision makers who make tough calls. The administrative staff that keeps everything standing. But also the compliance officers and financial industry employees.


Surprised at the last addition? With the rise of cyber terrorism threats, compliance offers and financial industry employees can play a huge role in protecting our national interest, treasure, and security.  Why? It all stems from the USA PATRIOT Act. Implemented in 2001 as a result of the 911 attacks, the USA PATRIOT Act is designed to give the government more power to keep us safe in the cyber sphere.


The USA PATRIOT Act was implemented to strengthen US measures to prevent, detect, and prosecute international money laundering and financing of terrorism. It criminalized the financing of terrorism, increased civil and criminal penalties for money laundering, and amplified the scrutiny of foreign financial institutions and interactions that are prone to abuse. This act gave federal officials the tools and freedom they need to better trace and intercept terrorist communications, and improved information sharing between financial institutions and the United States government.


The USA PATRIOT Act has had a very controversial reception to say the least. Many oppose it as it gives the government a lot of spying power. (Think young boy in a spy store with a mother that does not know how to say no.) Others are supportive, valuing safety over privacy. (How else would the real life versions of Jack Bauer and Alex Parrish get things done?) Regardless of how you feel about it personally, it is important to understand what the act does and how it affects you.


What you should know about the USA PATRIOT Act
• Encourages information sharing: with communication between US financial institutions and the government encouraged, law enforcement teams have more tools to disrupt and prevent terrorist acts and money laundering.
• Makes account ownership and identify more transparent: sets standards for customer identify requirements when opening an account.
• Keeps a closer watch on Correspondent Accounts.
• Suspicious Activity in accounts must be reported by brokers and dealers.
• Expands wiretap policies to stay current with modern technology: lengthens the list of criminal activities for which wiretap can be ordered, makes cellphones and laptops fair game for wiretapping.
• Empowers Attorney General, so they can order education records without student consent when investigating or prosecuting terror crimes.
• Creates stricter guidelines for Visa requirements for immigrants.

 

Patriotism is more than cultivating a love for hamburgers and fireworks; it is about becoming an engaged citizen and taking an interest in policies that influence your rights and safety. To learn more, we invite you to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. and ask about our USA PATRIOT Act training.

by: Madelyn Fagan

Quality People. Quality Content.

May 31, 2016. - At Edcomm Banker’s Academy we believe that the greatest resource of any organization is the potential of its people. Christine Belusko, our talented and dedicated Content Writer and Editor, is a shining example of this.


SMEWe are thrilled to congratulate Christine Belusko for earning her Master’s Degree! Detail-oriented and passionate about writing, Christine graduated with a Master’s Degree in English from Arcadia University. Her accomplishment is a tribute to her strong work ethic and commitment to excellence.


At Edcomm Banker’s Academy we believe that commitment to excellence starts with the cultivation of your employees. Our training product, with its extensive Professional Skill development focus, demonstrates this. However, it is the passion and effort of our Content and Creative team members like Christine that make our course material outstanding and a cut above the rest.


As your training provider, our goal is to help your employees reach their potential by providing the best content. We edit our content on a quarterly basis and stay on top of industry trends. As a company, we continually strive to improve our product and your experience.


As such, Edcomm Banker’s Academy is excited to announce we are assembling a permanent Board of Advisors! This Board of Advisors is a dream team of subject matter experts in the compliance field. These seasoned specialists will guide us on industry trends and recommend enrichments to our course content. Edcomm has enjoyed a long relationship with an excellent assortment of Subject Matter professionals. This formalized advisory board is an evolution of that system.


Quality content starts with quality people. We cannot wait to introduce you to our Subject Matter Experts and share their specialties with you!
The official Board of Advisors announcement will be released in the summer of 2016. Please stay tuned.

by Madelyn Fagan
 

  • We switched to Banker’s Academy over a year ago from a different online training program. The cost savings was tremendous - which has been very helpful in this time of budget cuts. We found that the training content is precise, to the point, and always current. It doesn't have a lot Read More
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