Notes, news and views on community banking

Every year, Wells Fargo offers employees the opportunity to secure Volunteer Service Awards for nonprofit groups in which they actively volunteer. Winners are chosen based on their dedication to the organization, effectiveness of their work, amount of personal time volunteered and the value of their work to their community.

"We are all extremely proud of our team members' volunteer commitments and are delighted to make these contributions on their behalf," said Marilyn Dahl, regional president for Wells Fargo in the Twin Cities.

Nationwide, the bank distributed 163 awards totaling $320,000, including a single award of $50,000.

New rules for mortgage lenders in Illinois and Montana

Beginning July 1, mortgage loan originators have to be licensed to operate in Illinois. The new requirement does not apply to lenders employed by banks, savings and loans, or credit unions. The Illinois legislature passed the measure 18 months ago as part of an omnibus bill dealing with predatory lending. Lenders working for mortgage companies will be required to pass a written test and be subject to a criminal background check. In addition, they will have to carry identification cards issued by the state's Division of Banking and Real Estate.

In Montana, a similar law requires mortgage brokers to obtain a license by September 1. The new requirement does not apply to mortgage bankers or employees of banks.

Jack Henry opens center

Jack Henry & Associates opened a new remote item processing center on July 1. Tony Wormington, chief operating officer, said banks can use Jack Henry's remote processing centers to accommodate imaging and capitalize on opportunities presented by Check 21. "With the advent of Check 21, there is a major effort underway among banks to convert to imaging. While banks will not be immediately required to exchange image cash letters, we believe this is inevitable. Whether regulators or the market will drive the exchange of images between financial institutions, banks want to be ready." Jack Henry plans to open another center on Nov. 1, this one in Philadelphia. The company, based in Monett, Mo., said it will open at least one other center in the current fiscal year. The company opened three centers during the previous fiscal year.

Campaign or Crusade?

With just days remaining before Congress adjourns for the campaign trail, David Hayes, ICBA chairmanelect, cautioned bankers attending the CBA annual meeting in Wichita, Kan., not to expect movement on any banking-related issues. Things should heat uquickly in 2005, though, right about the time Hayes takes the ICBA chairmanship from Dale Leighty. With issues such as GSE reform, expanding Subchapter S, industrial loan company expansion, FDIC insurance and the ongoing battle against unfair credit union competition, Hayes told Kansans he expects to make quite a few trips to Washington next year. When he does, Hayes will be wearing ICBA's new "Enough is Enough" campaign button that encourages lawmakers to strike out unfair credit union expansion.