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Welcome to The Vault - Thank you for your time . . . Were you able to find time for reading on the beach this summer?  We hope so. The VAULT will be less entertaining than a novel read in the sand, but we do hope you find what we present here to be fresh and relevant information for busy professionals like you. Our goal is to share articles about business in general, not just the financial part, and to present solutions and opportunities that may have potential for your business and for your personal life. Working with you, we gain insight into your business - this helps us offer a fresh perspective. We love it when we can be a part of the solution and are proud of our role as a trusted resource for better than 150 years.
Please feel free to email us your thoughts, requests, and suggestions.

Remittance Transfers
by Kristi von Tickner, VP / Financial Services Manager, Scott Valley Bank
We have all become all too familiar with significant regulatory changes affecting banking such as the Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB). One of the many consumer protections brought about by the Dodd-Frank Act is the expanded scope of Regulation E protections related to certain international funds transfers (the Remittance Transfer Rule). The new rule takes effect on October 28, 2013 and Scott Valley Bank will then process foreign consumer remittance transfers under the new rule. (This new rule does not apply to US corporations sending international wires.)
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Laddering Certificates of Deposits
by Chris Morin, EVP / Bay Area Regional Director - Commercial Banking, Scott Valley Bank
In the last few years, more businesses and consumers have been concentrating on paying down debt and improving their cash levels. The increased level of liquidity is used to support business operations or household expenses and then any remaining idle cash can be invested to earn additional interest income.  
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Affordable Care Act delay is a just-in-time reprieve for thoughtful compliance implementation.
by Sina Johnson, Marketing Director, Payroll Systems
Unfortunately, many employers are falling into a trap of delaying the implementation of their Affordable Care Act (ACA) administration solutions after the Treasury Department announced delays early in July 2013. However, the only delays are a few specific provisions of the Employer Shared Responsibility (ESR). The delayed provisions refer to Internal Revenue Code Sections 6055 and 6056 requiring annual reporting from employers subject to ESR regarding health insurance coverage offered to employees. The postponement allows for 2014 as a transition year with an employer option to complete voluntary reporting.
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Scott Valley Bank is looking for bankers . . . and we are happy to receive your referrals.
by Chris Morin, EVP / Bay Area Regional Director - Commercial Banking, Scott Valley Bank
Since we are continuing on our growth trajectory, we are specifically looking to add to our team of relationship bankers in the Greater Bay Area. If you know of a banker ready to explore a change who you believe will fit in with the standards, work ethic and caliber of our existing team, a referral would be greatly appreciated.
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We are pleased to present articles from respected guest authors in this newsletter. This newsletter contains links to non-bank sites.  These links are offered only as a pointer to information that may be of interest to our readers and do not imply endorsement or responsibility for the ideas, opinions, information, products or services offered. Linked third-party websites may have privacy policies that differ from the privacy policy of Scott Valley Bank.