CFPB Demanding Attorney-Client NPI

The CFPB has great influential power in the financial industry, but how much is too much? This question was recently raised when the CFPB asked Morgan Drexen and Connecticut attorney Kimberly A. Pisinski to hand over thousands of their clients' sensitive non-public personal information.

Some of the documents they were requiring included names, addresses, phone numbers, amount of debt owed, sources and amount of income, details of when clients talked to their attorney, attorney notes, amount paid for the attorney's services, and the list goes on and on. (See all here) 

A lawsuit has been filed to address the issues and the questions that have been raised:

1. Is this a violation of the attorney-client privilege? 
2. Is the CFPB's structure constitutional?
3. Does the CFPB have appropriate checks and balances in place?  

Learn more about the lawsuit here: http://morgandrexenvscfpb.com/

Economics and finance may have a stigma of "boring" or "stiff," but we are affected by the economy every day, and the science behind it can be interesting, to say the least, and even fun, if presented with the right approach.

The podcast show Planet Money takes a real life approach to economics and finance, discussing how they affect every day Americans, industries, and oftentimes the world. The topics are fun, interesting, and relevant, stimulating thought and broadening understanding of how the US (and the world) functions. Planet Money delves into both macro and micro issues our economy (both nationally and globally) faces, with interviews from citizens in the thick of the issues with a very unbiased and refreshing viewpoint.

Some of the recent topics they discussed were:

• Top of the Charts (Econ Remix) - how the top 3 songs in America explain the crazy transformation in the music business
• The One-Page Plan to Fix Global Warming - Tax carbon emissions. That's basically the whole plan
• Where the Jobs Are (And Where They Aren't) - graph of gains and losses in industries
• Killing Fannie Mae- Five years after the financial crisis, the government still controls giant companies that guarantee trillions of dollars in mortgages

Planet Money has podcast episodes as well short articles on economic and financial issues, introducing topics you may not know anything about, fun and interesting facts, laws and regulations that may have been swept under the rug, and more! Visit Planet Money here: http://www.npr.org/blogs/money/

Planet Money also has a mobile app that allows you to listen to podcast episodes on the go. Listen while exercising or driving to stay current on both relevant and interesting topics regarding the economy and finance.

IDS Thanks You!

With great appreciation for our top 500 IDS clients and partners, we send out a spring/summer gift every year in addition to the annual Christmas gift. For this year's summer gift, the theme was: 

"IDS has your docs in motion, now it's your turn to get in motion."

To keep the gift fun and light, we wanted to include items that our clients could use and enjoy for the summer season. Included in the package was a:

• Frisbee
• Tumbler
• Chapstick
• Bookmark
• Taffy

So get out and enjoy the summer! And a great big "Thank You!" from the IDS staff. 

Corporate Patriotism: Celebrate Who You Are

With the 4th of July a day away, we begin to reflect on who we are as a country and recognize our forefathers for the freedoms that they have afforded us. Since the institution of the Declaration of Independence our country has seen many changes, largely the revolution of industry and business. Nowadays businesses big and small make up this country and define us as a nation. So who are you as a business? What is your contribution to this country? 

IDS answers these below with our mission statement. This is our core purpose and function in society:

"Empowering lenders to create initials and closing documents with innovative technology that ensures compliance and generates efficiencies. IDS provides clients with the tools and resources to fulfill all of their document preparation needs."

This is who we are. Who are you? Spread your mission statement for corporate patriotism!

Refer to previous post to learn all of the benefits that come from keeping the mission statement in the forefront of your company's mind.

Dust Off Your Mission Statement!

The title "mission statement" is so overplayed with everyone proclaiming, "It's so important to have a mission statement!" You may even get tired of hearing about how important mission statements are when oftentimes the mission statement is created and then it is never heard from again. But the real importance of having a mission statement lies in bringing continued awareness to the employees and executives of the unchanging core purpose and focus of their company.

A mission statement, unless viewed frequently, can easily be forgotten, and loses the purpose for which it was created. So what is the purpose of having a mission statement?

There are a few:

1. Knowing your company's core purpose and focus can positively influence day to day decisions, big or small
2. Aids in crafting long term goals and strategies
3. Briefly and concisely defines the company for potential consumers
4. Prevents aimless actions of employees and executives
5. Keeps your company moving forward

Having a mission statement alone will not guarantee these benefits. The mission statement must be reviewed often, not for the purpose of memorizing words, but to remind you of why you or your company does what it does. It is this constant awareness of the company's purpose and goals that will drive the employees and executives to work as a unified group.

Do you know what IDS's mission statement is? Find out on Wednesday!