Another government email scam!
Thursday, September 1st, 2011
Our firm’s junk email filter caught another government email scam. This one appears to come from the FDIC, the federal bank watchdog, with the subject “FDIC: about your business accounts”. It hints that your bank (which it does not name) is being taken over, and provides a link for more info on how your accounts […]
Read More »IMPORTANT: ACH Phishing Alert
Monday, February 28th, 2011
The Electronic Payments Association has received reports that individuals and/or companies have received a fraudulent email that has the appearance of having been sent from NACHA and signed by a non-existent NACHA employee. Specifically, this email claims to be from the “Electronic Payments Association” and appears to be coming from the email address “payments@nacha.org.” These […]
Read More »Avoid 1099 requirement
Thursday, February 10th, 2011
The new credit card reporting rule has created a potential money-saving opportunity for businesses subject to 1099 reporting. Everyone engaged in a trade or business (including landlords beginning in 2011) must report payments of $600 or more to non-corporate service providers on Form 1099 to the payees and the IRS. Beginning January 1, 2011, banks […]
Read More »Guard against electronic funds transfer fraud
Monday, November 8th, 2010
Your business, like many others, may receive and pay out funds through electronic funds transfer (EFT) and automated clearing house (ACH) transactions. Such transactions include converting paper checks to electronic payments, wiring funds, and paying taxes electronically. The frequency of EFT fraud and the size of losses have increased as cybercriminals are targeting small and […]
Read More »Banks Ease Small Business Lending Standards
Thursday, August 19th, 2010
Banks have begun to loosen their credit standards for the first time since 2006, according to the latest survey by the Federal Reserve. The quarterly survey of senior loan officers indicated a slight easing of credit standards and most terms on commercial and industrial loans to firms of all sizes. This is the first survey since late […]
Read More »Small business lending changes
Thursday, June 24th, 2010
The financial reform bills currently in Congress are being reconciled in conference in hopes of passage by July 4. Also in the works is an appropriation of $30 billion for banks to lend to small businesses. But will small businesses see that money? Is that what they need to survive the recession? The metrics to […]
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