Out of Recession into Reconstruction: What 2010 Has in Store for Financial Institutions

The following lead statement to get Bankers to listen to a Webcast does a good job of explaining what is being forecast for the US economy!           Steve Z Out of Recession into Reconstruction: What 2010 Has in Store for Financial Institutions

A Bank Systems & Technology Webcast:

Date: Wednesday, December 09, 2009 Time: 8:30 AM PT / 11:30 AM ET Duration: One Hour Although economists are forecasting a return to growth before the end of 2009, the impact of the economic contraction that began more than a year ago will continue to change consumer behavior and financial institution practices through the end of 2010. The recession may be declared over, but there still will be significant job losses, as well as continued mortgage defaults to address as the residential housing market works to right itself. Along with the economic weakness, bankers can expect pressure from consumer advocacy groups and the federal government influencing new consumer lending, overdraft fees and interest charges. At the same time, check use will continue to decline as consumers move toward electronic payment methods (including plastic cards and mobile). With interchange, fee and interest income under pressure, banks must look to reduce internal costs and establish synergistic customer relationships in order to become more profitable in the year ahead.