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February 19, 2013
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Daily news for the equipment finance sector

  Industry News 
  • Small businesses and lenders find P2P lending attractive
    Peer-to-peer lending as a finance option is gaining traction among small businesses, Robert Moskowitz writes. Transaction costs are lower than those of a financial institution, and underwriting criteria are less onerous than those for a small-business bank loan. For lenders, the risk is slight because of careful vetting and the ability to spread money across multiple loans. Intuit Small Business Blog (2/18) LinkedInFacebookTwitterEmail this Story
  • Financial industry eyes benefits, limitations of cybersecurity directive
    The financial industry is cautiously positive about the White House cybersecurity directive that the president recently signed, as it provides clarification on the authority to share information. More legislation is needed, observers say, including measures to provide liability protection. Also, financial firms need to remain proactive to protect against cyberattacks. (2/14) LinkedInFacebookTwitterEmail this Story
  • Ore. panel endorses $3.4B Columbia River Crossing
    An Oregon legislative committee voted 14-2 in favor of constructing the $3.4 billion Columbia River Crossing, which would connect Portland, Ore., and Vancouver, Wash. The approval sends a bill to the Legislature to authorize $450 million in bonds to pay for Oregon's share. Proponents expect Washington lawmakers to match funding, allowing federal appropriations. The Oregonian (Portland) (2/18) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Income gains in recovering U.S. economy bypass most Americans
    All the income gains from the U.S. economic recovery that began in 2009 have gone, on average, to the upper 1%, according to an analysis by economist Emmanuel Saez of the University of California, Berkeley. In fact, real incomes for the lower 99% are less than they were at the end of the recession. Saez says this pattern of upward income redistribution is expected to persist. CBS MoneyWatch (2/17) LinkedInFacebookTwitterEmail this Story
  • Consumers still strapped despite rebounding shares, home prices
    Most of the $16 trillion lost by Americans during the economic downturn has been recovered, but mainly in the form of a rising stock market and a recovering housing market, says Alan Krueger, chairman of the White House Council of Economic Advisers. With pressing need to save for retirement and children's education, consumer spending is likely to remain subdued, Krueger says. The Wall Street Journal (2/18) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • FCMs raise concerns about CFTC's 60-second rule
    A Commodity Futures Trading Commission rule to require futures commission merchants to decide on clearing within 60 seconds may cause them to incorrectly reject some trades, FCMs say. "If the client is close to a limit and sends a risk-increasing trade through first, and we don't know there's a subsequent trade that's risk reducing ... we will reject that first leg of the trade," said Piers Murray of Deutsche Bank. (subscription required) (2/19) LinkedInFacebookTwitterEmail this Story
  • Questions remain in Vickers implementation
    Experts are voicing concern about technical questions remaining in the implementation of reform suggested by the Vickers report. The extent to which U.K. bank operations would be separated, questions about back-office functions and additional oversight rules are among unresolved issues that have left professionals dubious of a timetable that calls for regulations to be passed by 2015 and implemented by 2019. (subscription required) (2/18) LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • ELFA National Funding Conference: The one event you can't afford to miss
    If you can attend only one conference this year, make it the ELFA National Funding Conference, scheduled April 9 to 11 in Chicago. Need convincing? How about:
    • You will reconnect with contacts you haven't seen in a while.
    • People are moving around, and their roles are changing at an unprecedented pace. Meet the new faces.
    • See them all in one place in a compact, two-day period -- more bang for the buck.
    • This is the only meeting of its kind.
    Need more convincing? Figure out the cost benefit to your company.
    • The cost to purchase an exhibit booth is extremely affordable and includes two attendee registrations per booth purchase.
    • Exhibit booths are large -- 15 feet by 15 feet -- providing more privacy.
    • You have tremendous flexibility in the scheduling process. You can meet with the people you really want to see.
    • Chicago is a great venue: reasonable travel cost, central location, key decision-makers attending, minimal time commitment AND finally ...
    • It happens only once a year.
    This is the one you can't afford to miss. See details and register. LinkedInFacebookTwitterEmail this Story
  • March 15 deadline: Complete the 2013 Survey of Equipment Finance Activity
    The questionnaire for ELFA's 2013 Survey of Equipment Finance Activity has been mailed to all members, and we're looking for your response. March 15 is the deadline for submitting your response, and ELFA is encouraging you to respond as soon as possible.

    Every member company that responds to the survey will receive a complimentary copy of the survey report, a $1,295 value, as well as confidential individual company data sheets, which compare and rank respondents' data with those of other participants.

    Don't miss out on this key ELFA member benefit -- complete the questionnaire. The survey is a must-have for equipment-financing professionals who are serious about competing in this dynamic economic and business climate. You may download the SEFA from the Research section of the ELFA website. For more information, contact Bill Choi at (202) 238-3413 or LinkedInFacebookTwitterEmail this Story
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Everything that lives, lives not alone, nor for itself."
--William Blake,
British poet and painter

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