Identity Theft, Credit Card Fraud, Check Fraud, Credit Damage, FACTA & Credit Bureau Litigation Expert Witness Consultant
Consulting Services for Attorneys Representing Plaintiffs and Defendants Nationwide Since 1989
Identity Theft, Credit Card Fraud, Check Fraud & Credit Damage
An Article by Don Coker, Banking Consultant
Ms. X, a successful working single parent with perfect credit, obtained a mortgage loan to buy a home. A couple of years later, she began to receive notices of bounced checks from her bank where she had banked for several years. In investigating this with the bank, Ms. X learned that there were numerous debits from her account, in the form of checks bearing her forged signature as well as other debits that she had not authorized. The problem extended to her credit card accounts where items were purchased without her authorization. Furthermore, Ms. X later learned that completely new credit accounts had been opened in her name based upon her other credit information. These fraudulent accounts in her name were now delinquent and reflected on her now horrible credit report. Ms. X's credit picture went from perfect to unacceptable in a short period of time.
After a great deal of investigation and some lucky coincidences, it was discovered that the mortgage lender routinely maintained a copy of all their borrower's credit files, including Ms. X's, in their originating branch office for two years and then discarded it. This I where the problem came in: An employee (or employees) of the company hired to destroy and discard the files had hung onto several of them, including Ms. X's file, and used them to commit financial crimes.
What did Ms. X do wrong?
Nothing.
What could Ms. X have done to prevent this crime from happening?
Nothing.
What could the mortgage company have done to prevent this from happening?
Properly discard the file by destroying it onsite.
But the problem is certainly much broader and deeper than a few dumpster divers. The information needed to commit financial crimes is available from many sources. Retail clerks, credit card company employees, bank employees, and many, many others handle immense volumes of this information everyday. And then there's the Internet. I myself decided to make one purchase on the Internet - a scanner. A year and a half later, I noticed a charge item on my credit card account that I had not made. In checking into this, the credit card company quickly recognized the genesis of the problem as the scanner purchase I had made a year and a half ago, since someone had hacked into the computer equipment retailer's website and stolen credit information about their purchasers.
In my practice as a Banking Consultant and Expert Witness, I have experienced a growing volume of calls regarding the associated problems of credit card fraud and identity theft. Unfortunately, identity theft is a high growth industry.
The problems began as rather unimaginative criminals picked up credit card numbers and expiration dates from discarded receipts, through their work as a retail clerk, etc., and used the information to make a few purchases until the crime was discovered, and the use of the card or account number halted. Over time, this practice progressed (?) to the point that criminals became a little more imaginative and began to use the information from a stolen credit card or illicitly obtained account information to open new credit accounts and bank accounts as well. This was the beginning of what has been named "Identity Theft."
A further confounding factor is that criminals that commit these crimes usually view the stolen funds as "found money" and spend it on frivolous items such as 900 telephone calls, gambling, and unneeded retail purchases. Obviously, even if the criminal is caught, this makes any recovery difficult.
Warnings to individuals are everywhere as to how to logically reduce their exposure to credit card fraud and identity theft, all of them basically common sense. Let's look at what financial institutions and businesses can do to reduce the chances of these crimes succeeding:
- Safeguard all sensitive information. This is not as easy as it sounds. A loan or credit file, which contains a credit report and other financial information, always resides in a walk-in vault. This means that anyone who is authorized to go into the vault can obtain this information. Also, obviously, files are taken out of the vault for various necessary and legitimate reasons, such as for loan servicing, tax, insurance, collection, etc., needs.
- Any sensitive information that is being discarded should be shredded on-site by the personnel of the bank or other credit or financial services company. There is no reason to go outside the company and hire a contractor to destroy discarded files. After all, what we are talking about here is basically throwing away the trash in an appropriate manner. Any bank or financial services company or retailer should be able to do that without any problem and without bringing in an outside contractor to do that simple job.
- Furthermore, sensitive materials that are to be discarded should be discarded as soon as possible after they are no longer needed. In other words, there is no valid reason to hoard files that are to be discarded until there is a sizable volume of them (as some financial institutions do). Destroy them as soon as they reach the date at which you have determined they should be destroyed.
- There is no excuse for any receipt to display a credit card account number and expiration date. No bank or other credit card processor should operate this type of system. Likewise, no merchant should contract with a credit card processor who sells a system that displays this information on a customer's receipt which can then be thrown away and picked up by a criminal. (How hard is it to reconstruct a torn-up credit card receipt?)
- Lenders and credit grantors can use some common sense when examining the account records after one of these crimes is reported. For example, it is not very likely that a married couple in their sixties is likely to have bought twelve rap CDs all of a sudden. Of course, it could happen (gift for grandchildren), but chances are it is a fraudulent purchase by a criminal. Likewise, it is unlikely that someone who has a perfect credit history for several years all of a sudden goes hog wild buying things they cannot afford.
- Similarly, lenders and credit grantors should immediately freeze or shutdown accounts on which suspected fraud is reported. If they do not, then the victim can reasonably claim that they were further damaged by the financial institution's failure to freeze or shut-down their account.
- Credit bureaus can do a better job in this process if they would not allow their clients, i.e., the merchants that report credit information to them, to re-report erroneous credit information. When erroneous credit information is found on a credit report, a credit bureau will usually remove it (after the individual begs for awhile), but then the next tape or data feed from the merchant that originally reported the erroneous information will often contain the same erroneous information. The victimized individual thinks that they corrected the problem with the first removal, but is unaware that the erroneous information will be reported again the following month.
Identity theft and credit card fraud can strike anyone anywhere. I have seen cases involving untrained, untalented, unfortunate people who already have horrible credit and bounce around from job to job, and cases involving people of the caliber of the former managing partner of a major law firm and several United States Senators.
Some of the victims have the added problem of having had credit problems before, so any problems that surface regarding their credit are viewed initially as highly suspect. So someone who has experienced a temporary and corrected financial problem can have all of that effort erased by being victimized by these crimes.
And of those who are victimized by these crimes, I have never known of even one to achieve a true correction and restoration of their credit history. Accordingly, damage of this type endures for a long, long time, even beyond the seven years beyond which a bankruptcy and other negative items should disappear from a credit history.
The problem apparently comes in with the official starting date of the seven years since credit grantors try to bump this date forward every time they have a contact with someone or receive a payment or experience any account activity.
Credit grantors and credit users must both take all prudent steps to safeguard access to financial records. Likewise, speed in reporting by credit users and speed in responding by credit grantors is essential. It is important to recognize that each one of these crimes begins with the discovery of a single fraud event. The sooner it is reported, the accounts handled properly, and everyone begins operating on a heightened level of awareness of the problem, the sooner the fraud can be shut-down and damages to all parties minimized.
Copyright 2002-2008 by Don Coker
About the Author
DON COKER is an Atlanta-area based Banking, Management, Economic and Valuation Consultant who has assisted clients in 45 states and internationally in 23 countries in the Americas, Europe, Asia, and Africa. His clients include numerous banks, insurance companies, governmental bodies, corporations, individuals, and law firms.
Clients include The World Bank, Bank of America, Bank One, JPMorgan chase Bank, Wachovia/SouthTrust/First Union Bank, US Bancorp, KeyCorp, Goldome Realty Credit Corp., Southeast Bank, Southwest Bancshares, American Savings & Loan, AIG Insurance, CNA Insurance, Reliance Insurance, Lloyds of London, Crum & Forster, National Union Fire Insurance, Continental Casualty Insurance Co., Acadia Insurance, FDIC, RTC, FHLBB, Internal Revenue Service, State of Texas Savings & Loan Department, City of Orange, CA; Zapadnoe Koltze (Tagliatti, Russia); Ruby Tuesday; George Kaiser (Forbes 400 List); Gary Tharaldson (Forbes 400 List), Jones, Day, Reavis & Pogue; Vinson & Elkins; Dorsey & Whitney; Baker & Hostetler; Holland & Knight; Carlton Fields; DLA Piper Rudnick; Baker Botts; Fulbright & Jaworski; and Stradling, Yocca, Carlson & Rauth, and hundreds of others.
Consulting Issues include all banking and financial services areas, investment banking services, D&O cases, lender liability, industry standards and practices, money laundering, white collar crime, embezzlement, fraud, forensic funds tracing and transaction reconstruction and analysis; commercial real estate issues, financing, site selection, and feasibility; corporate finance issues, hospitality industry issues, and management consulting issues; and the valuation of tangible and intangible assets including businesses, professional practices, healthcare entities, stocks, intellectual capital, trademarks, contracts, lost profits and wages, economic damages, and other unusual assets.
Mr. Coker is a specialist at calculating economic damages.
Mr. Coker's Background includes high-level management and regulatory responsibilities, numerous Expert Witness assignments (365+ engagements, 93 testimonies, 10 courthouse settlements), business books and articles published in professional publications, and inclusion in Who's Who in America and Who's Who in the World.
Notice to Identity Theft Victims:
Please note that Mr. Coker does not dispense free advice. If you have been the victim of Identity Theft, you should immediately discuss the matter with your banks and other credit grantors. If this does not resolve the problem, then engage an attorney to assist you. This may also include involving law enforcement.
After you engage an attorney, if the attorney feels that litigation is required in order to resolve your problems, then he or she may contact Mr. Coker. He assists attorneys for Plaintiffs and Defendants in Identity Theft cases nationwide.
Entire Website © 2008 - 2009 by Don Coker
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The Facts on FACTA: Note Regarding Current FACTA Litigation
By Don Coker
The United States Congress passed the Fair and Accurate Credit Transactions Act (commonly referred to as the FACT Act or FACTA), and FACTA was signed into law on December 4, 2003, and went into full effect on December 4, 2006. An important part of FACTA deals with the truncation of personal confidential financial information from printed credit card receipts. FACTA requires the truncation or masking of all of the credit card account number except for no more than the last five digits and the truncation or masking of the entire credit card expiration date. The vast majority of retailers do comply with FACTA and show on their printed credit card receipts only the last four digits of the credit card account number and none of the expiration date.
It is an inexplicable and unfortunate fact that many retailers willfully have chosen to ignore the credit card receipt account number and expiration date truncation requirements of FACTA and therefore needlessly subject their customers to the possibility of becoming identity theft victims.
Even though it is a proven fact that the costs of compliance with FACTA's credit card account number and expiration date truncation requirements are small, the possible resulting damages to a customer who becomes an identity theft victim as a result of a retailer willfully ignoring the requirements of FACTA are huge.
Likewise, it is in the best economic interests of retailers to make sure that their IT systems are set up to issue credit card receipts that comply with the credit card account number and expiration date truncation requirements of FACTA. Mr. Coker is available to consult with retailers and IT companies who need assistance in modifying their IT systems so that the credit card receipts they issue conform to the requirements of FACTA.
Mr. Coker provides expert consultation, examination and analysis of the facts of a case, advice, Declarations, reports, and sworn testimony in deposition and court for parties engaged in litigation involvi©ng FACTA matters.
Mr. Coker's expert witness experience and background includes oveer 365 cases, 93 testimonies, and 10 courthouse settlements in all areas of banking, finance, real estate, economic damages, business valuation, intangible asset valuation, and many related matters since 1989.
In addition to FACTA litigation and other banking and finance-related litigation consulting, Mr. Coker provides consulting services in many additional areas including business valuations, business plan writing, feasibility studies, marketing studies, anti-money laundering policies and procedures, policy and procedure manuals for financial institutions and other businesses, merger and acquisition due diligence and assistance, research, international matters, and many other related areas.
Entire Website © 2008 - 2009 by Don Coker
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Credit Card Expiration Dates and FACTA
By Don Coker
The Fair and Accurate Credit Transaction Act ("FACTA") was passed by Congress and signed into law on December 4, 2003, and became fully effective on December 4, 2006. The purpose of FACTA is to reduce the amount of personal confidential financial information that is generated and thereby reduce the incidence of identity theft and credit card fraud. In keeping with this goal, 15 USC 1681c(g)(1) requires that merchants that issue receipts to individuals truncate all but the last four or five digits of the customer's credit card account number and truncate the entire expiration date.
Unfortunately, and despite the fact that FACTA was widely discussed before and after its passage, many merchants simply have ignored these aspects of FACTA, apparently based upon their belief that expiration dates are unimportant to a criminal. They are wrong. Credit card expiration dates are very important and useful to criminals. Consider the following:
- Expiration dates are one of the inputs needed to calculate the 3-digit security code (CVV2 or CVC 2) on the back of a credit card.
- Expiration dates are required for some, but not all, online purchases, as clearly demonstrated by my recent online test purchase at Wal-Mart, the world's largest retailer.
- Expiration dates combined with the last four or five digits of an account number can be used to bolster the credibility of a criminal who is making pretext calls to a card holder in order to learn other personal confidential financial information.
- Expiration dates are solicited by criminals in many e-mail phishing scams.
- Expiration dates are one of the personal confidential financial information items trafficked in by criminals.
- Expiration dates are described by Visa as a "special security feature."
- Expiration dates are one of the items contained in the magnetic stripe of a credit card, so it is useful to a criminal when creating a phony duplicate card.
- Expiration dates are easy to exclude from receipts and involve minimal expense, even for a major retailer with hundreds of stores and cash registers.
- Expiration dates are required to be excluded from printed receipts, according to Visa's Rules for Merchants, which predates FACTA.
- Expiration dates are required to be excluded from printed receipts, according to MasterCard International's Rules, which predates FACTA.
- Expiration dates are required to be excluded from printed receipts given to individuals, according to laws passed or introduced in at least thirty-four states.
- Expiration dates are required to be excluded from printed receipts given to individuals, according to FACTA.
The costs for a merchant to implement FACTA are small, but the potential losses to individuals from identity theft and credit card fraud are great. Accordingly, it is difficult to see how any merchant could fail to see the risk of harm to which they willfully are exposing their customers by not truncating expiration dates as required by FACTA as well as Visa and MasterCard International merchant rules as well as many state laws.
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Don Coker is an experienced banking expert witness consultant who has worked on over 365 cases nationwide and testified 93 times. He is a former banker and banking regulator, widely published, and often quoted in the media. He is available to discuss FACTA and other banking, finance, economic and credit damages, fraud and embezzlement, real estate, business valuation, and related cases with attorneys. Mr. Coker is located in Atlanta, GA, and can be reached at Bankexpert@cs.com or (770) 852-2286.
Entire Website © 2008 - 2009 by Don Coker
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Profile of Identity Theft Consultant, Expert Witness
Mr. Coker provides a wide range of consulting services to clients nationwide and internationally. Areas of consulting expertise include banking, management, economics, valuation of tangible and intangible assets, business valuation, investment banking services, assistance in international transactions, and litigation assistance.
REPRESENTATIVE CLIENT LIST
Banking:
The World Bank
Citigroup/CitiFinancial
Bank of America
Bank of America - Canada
NationsBank
MBNA America Bank
Bank One
JPMorgan Chase Bank
First Union Bank
Wachovia Bank
SouthTrust Bank
Washington Mutual Bank
U.S. Bancorp
Firstar Bank
Provident Bank
Credit Suisse First Boston Mortgage Capital, LLC
Bank of Oklahoma
Sunbelt Savings
Sunbelt Federal Bank
Bluebonnet Savings
Standard Pacific Savings Bank
First National Bank of Brewton
Southeast Bank of Miami, FL
Barnett Banks, Inc.
Bank of the Southwest
Priority Bancorp
KeyCorp
Tanzania Institute of Bankers
Bank of Tanzania (central bank)
Goldome Realty Credit Corp.
Western Gulf Savings & Loan
American Savings & Loan
EDS - BEI Golembe (Banking) Consultants
Governmental:
FDIC
Resolution Trust Corp.
Federal Reserve Bank of Atlanta
Federal Savings & Loan Insur. Corp.
Federal Home Loan Mortgage Corp.
U.S. Department of Education, Inspector General's Office
Farm Credit Bank
State of Texas, Savings & Loan Department (Regulators)
Internal Revenue Service,U.S. Treasury Department
Ten Municipalities in CA and CO
Tanzania Revenue Authority (tantamount to IRS)
U.S. Air Force, Judge Advocate General's Corp, Office of Special Investigations (Guantanamo Bay, Cuba)
New York Governor George Pataki's Office of Regulatory Reform
Insurance:
AIG
CNA
St. Paul Travelers
Travelers Casualty and Surety Company of America
State Farm
Liberty Mutual Insurance Co.
Reliance Insurance Co.
Lloyds of London, UK
Acadia Insurance Co.
Employers Mutual Insurance Co.
Military Premium Managers
Physicians Mutual Insurance Co.
Physicians Life Insurance Co.
International Transport Intermediaries Club, Ltd., UK
North River Insurance Co.
Physicians Mutual Insurance Company
Physicians Life Insurance Company
American Casualty Insurance Co.
National Union Fire Insurance Co.
Continental Casualty Insurance Co.
Crum & Forster Managers
Xerox Financial Services
Thomas Miller & Company, UK
Corporate:
Ford Motor Credit Company
Cisco Systems
Microsoft
IBM - Lotus Development
Wal-Mart Stores, Inc.
Wal-Mart Real Estate Business Trust
Sprint/Nextel
Intuit - Quickbooks
Network Software Associates
NAPA Auto Parts
Darryl's Restaurants
Sears
Heritage Motels. Inc.
Calco Aerospace
Ruby Tuesday
Remington Investments
Phivos Karnaos (London & Moscow)
Jancik Concrete Specialties
George B. Kaiser, Forbes 400 List
Concord Boat Corp.
Houlihan's Restaurants
Fillette Green Shipping
Zapadnoe Koltze (Russia)
Benchmarking Partners
Gary Tharaldson, Forbes 400 List
Kilimanjaro International
Boston Credit Corp.
Past Professional Memberships
- American Bankers Association
- American Institute of Banking, Chapter Officer and Bank Consul
- U.S. League of Savings Institutions
- Institute of Financial Education, Instructor
- Mortgage Bankers Association
- Texas Mortgage Bankers Association
- American Council of State Savings Supervisors
- American Bankruptcy Institute - Committee assignments: Public Companies, Real Estate, International, U.C.C., Commercial Fraud Taskforce, Healthcare.
- Board of Realtors
- National Association of Homebuilders
- International Council of Shopping Centers
- Houston (TX) Chamber of Commerce, Economic Development Committee, 9 years
Books, Publications & News Media
- Complete Guide to Income Property Financing & Loan Packaging, Prentice Hall, 1984.
- Self-Management: A Guide to Career Advancement and Development, written under contract for Prentice Hall, 1985.
- Complete Real Estate Computer Workbook, Technical Editor, Prentice Hall, 1986.
- The Complete Loan Officers Handbook, presently writing.
- "Money Laundering: A Dirty Business," White-Collar Crime Reporter, Oct. 1991.
- Treasury Magazine published by The Economist. Interviewed and quoted in an article written by a U.S. News and World Report Editor.
- "How You Can Help Your Client Get a Loan to Finance Real Estate Projects," Practicing Attorney's Newsletter, April 1984.
- "Getting a Grip on Core Deposit Intangibles," American Banker newspaper, 1996.
- "The Dollars and Sense of Business Valuation," published on the website of the American Bank Attorneys Association, April 1996.
- "Putting a Cash Value on a Business," interviewed by Lawyers Weekly, May 6, 1996.
- "Business Valuation Techniques," Business Locator, May 1996.
- "Valuing Businesses," TAB Letter, Technical Assistance Bureau, June 1996.
- "Using Business Value to Achieve Ad Valorem Tax Reductions on Commercial Real Estate Properties," Journal of Property Management, June 1997.
- What's Working in Credit & Collection, interviewed, quoted re: bank drafts, March 1997.
- "Making Sense of Internet Stock Values," TAB Letter, July 1999.
- Africa Today, extensive video coverage by Reuters News Agency of Tanzania Revenue Authority training program, Arusha, Tanzania, March 11, 2001 and other dates.
- Interviewed by ITV Television Network on the subjects of banking, taxation, economic growth and development, and capitalism in Tanzania, in Arusha, Tanzania, March 16, 2001. Aired on March 17, 2001, and subsequent dates.
- The Atlanta Journal-Constitution, interviewed for an article on banking regulatory policies and procedures, and banking practices, August 21, 2001.
- The Atlanta Journal-Constitution, interviewed for an article on banking practices and procedures to help deter terrorism, September 19, 2001.
- The Atlanta Journal-Constitution, interviewed for an article on banking practices and procedures involving funds transfers and money laundering by terrorist groups. September 21, 2001.
- The Baltimore Sun, interviewed for an article regarding considerations for the future of Allied Irish Banks, PLC's, American subsidiary Allfirst Bank. May 30, 2002.
- The Atlanta Journal-Constitution, interviewed for an article on the effects of the Sept. 11, 2001, terrorist events on banking practices and procedures, August 29, 2002.
- Credit and Collections World magazine and website, interviewed regarding bank account opening practices and identity theft, September 20, 2002.
- Outside the Lines television show and ESPN.com website, interviewed regarding identity theft matters. November 1 - 3, 2002.
- Lending Intelligence magazine and website, interviewed regarding lending practices and interest rates, November 25, 2002.
- NBC Evening News, interviewed regarding identity theft, November 25, 2002.
- Lending Intelligence magazine and website, interviewed regarding credit scoring and loan approval policies and procedures, December 10, 2002.
- Charlotte Observer newspaper, interviewed regarding bank branching and operations policies, January 21, 2003.
- Street & Smith's SportsBusiness Journal, interviewed regarding business ethics and corporate governance issues involving the U.S. Olympic Committee's Chief Executive Officer, February 25, 2003.
- Family Finances column that appears in The Boston Herald, the Pittsburgh Post Gazette, the Palm Beach (FL) Daily News, and some Scripps Howard newspapers. interviewed regarding credit card debt matters, September 23, 2003.
- The Denver Post, interviewed regarding banking economics and bank branching January 21, 2004.
- Mortgage Lending Compliance Alert, interviewed regarding housing market outlook, economic and interest rate outlook, and lender profitability strategies. Feb. 2004.
- CFA (Chartered Financial Analyst) Magazine, published by the Association for Investment Research, which recently became the CFA Institute. Interviewed by this professional certification organization that promulgates standards for investment professionals worldwide regarding business ethics and corporate governance issues. May 2004.
- Continental magazine, interviewed regarding banking and its effect on economic resurgence, especially as it relates to Ireland. July 6, 2004.
- European Business School, International University; Schlob Reichartshausen, Germany. Interviewed regarding intellectual property and business valuation techniques. July 24, 2004.
- San Francisco (CA) Daily Journal, a legal newspaper, quoted regarding the alleged bank fraud and credit card fraud factors related to alleged Guantanamo Bay, Cuba, U.S. Air Force translator spy Ahmad Al Halabi, July 28, 2004.
- Bank Tech & Security Newsletter, provided direction to a bank on the proper way to handle an attempted fraudulent international wire transfer. September 30, 2004.
- Small Business Times, provided information concerning business valuation issues. September 30, 2004.
- Mortgage Lending Compliance Alert, interviewed regarding the Bank Secrecy Act and Suspicious Activity Reports (SARs). October 12, 2004.
- Mortgage Lending Compliance Alert, provided input for an article concerning compliance with the rules and regulations of lending. November 4, 2004.
- Mortgage Lending Compliance Alert, provided input for an article on the Fair and Accurate Credit Transactions Act of 2003, a/k/a/ FACTA or FACT Act. Mar. 16, 2005.
- Bank Technology & Security Alert, provided input for a question and answer section regarding online bill paying. April 11, 2005.
- Mortgage Lending Compliance Alert, provided input for a question and answer section regarding closing costs for home mortgages. May 18, 2005.
- Newark Star-Ledger newspaper, interviewed on the subjects of check cashing and the need for enhanced identification verification systems. May 26, 2005.
- Bank Insurance & Securities Marketing Magazine, interviewed regarding ethical training considerations and the Securities & Exchange Commission's recently enacted Investment Adviser Code of Ethics. June 21, 2005.
- Mortgage Lending Compliance Alert, provided input for an article regarding the legal, regulatory, and marketing considerations of providing lending services to Spanish speakers. June 21, 2005.
- Bank Security & Technology, provided input for a question and answer section regarding bank facility security. August 11, 2005.
- Bank Security & Technology Alert, provided input for an article regarding the security of bank computer systems. November 9, 2005.
- Chicago Sun-Times, interviewed on bank marketing issues. January 9, 2006.
- American Prospect Magazine, provided input for an article on business and banking ethics written by a reporter for the Philadelphia Daily News. February 1, 2006.
- Bank Security & Technology Alert, provided input for a question and answer section regarding bank record retention. February 8, 2006.
Patent
On July 8, 2002, the United States Patent & Trademark Office registered a Provisional Patent to Don Coker for a business process for improving the prevention and detection of financial fraud involving personal and business checks, cashier's checks, postal and commercial money orders, letters of credit, bills of exchange, drafts, and many other types of financial instruments. In July 2003, the formal patent application was filed. This Patent was sold (90% interest) in early 2007 and licensed in 2008.
Civic Activities
- Katy School District (Houston suburb), Trustee, elective position.
- U.S. Army Reserve, 1966-1968, Officer Training, Ft. Bragg, NC; Honorable Discharge.
- Nottingham Country Civic Club, officer, 1,500 family neighborhood association.
- Sunday School teacher, usher, host.
Education
- University of Alabama, BA.
- University of Alabama, post-graduate work.
- University of Houston, post-graduate work.
- Spring Hill College, masters degree-level work.
- Southern Methodist University, executive education work.
- Harvard Business School, Certificate in Business Valuation.
American Bankers Association - American Institute of Banking: financial statement analysis, business finance, bank investments, principles of bank operations, bank management, trusts.
National Institute of Real Estate Boards, commercial real estate finance.
International Council of Shopping Centers, shopping center finance.
National Hospital Association, one-week workshop in healthcare entity finance and valuation.
Mortgage Bankers Association, workshops in multi-family and SFR lending.
Federal Home Loan Bank of Dallas, training workshops on financial institution management, lending, investments, operations, et al.
Texas Savings & Loan Department, training workshops on financial institution management, lending, investments, operations, et al.
Federal Home Loan Mortgage Corp., real estate financing workshop.
First National Bank of Mobile, AL (now AmSouth Bancorporation), financial statement analysis, business finance, bank investments, credit card operations, deposit operations, bank management, trusts.
Gibraltar Savings Association (now Citigroup), commercial real estate finance, valuation, joint-ventures.
Citicorp, business, corporate, and real estate finance, valuation, deposit products, investments.
Southwest Bancshares (later Bank One, now JP Morgan Chase Bank), business finance and real estate investments.
Commercial Credit Corp. (now Citigroup), one-week Corporate Marketing Conference covering in-depth training in all financial products, plus 28 CDC Learning Center courses (45 semester hours) in business and economic subjects.
Frost Bank, advanced credit analysis and business finance.
Professional Background Summary
20+ years experience in management at banks, savings & loans, credit companies, mortgage banking companies, and a governmental financial institution regulatory agency. Positions held include Board of Directors member, Executive Vice President, Senior Vice President, Manager of Lending, Manager of Mortgage Banking, Regulatory Supervisory Agent tantamount to CEO). Committee memberships included Loan Committee, Executive Committee,
Audit Committee, and Pension Plan Trustee. Served as a corporate officer of various financial institution subsidiaries.
Management responsibilities included as many as 300 people in 22 locations nationwide in ten states and $1 billion in gross assets. Directly responsible for originating over 36,000 loans of all types totaling approximately $5 billion, and reviewing well over 100,000 financial statements and credit reports, and 25,000 appraisals.
Other Professional Activities
Consultant on various economic, valuation, real estate, marketing, and banking matters for clients in 45 states and several foreign countries.
Expert Witness, for plaintiff and defense, listed in the Association of Trial Lawyers of America's and the Defense Research Institute's databases of recommended consultants, plus state and local databases in AR, CO, DC, HI, IL, IA, LA, MN, MS, NY, NC, OH, PA, SD, WA, and San Francisco.
Phillips College, former Adjunct Professor of Business.
Institute of Financial Education, approved instructor for the educational arm of the U.S. League of Savings Institutions.
Prentice Hall Publishing, Simon & Schuster, Paramount Communications, technical editor and consultant on banking and real estate subjects.
Holiday Inn, Lender Advisory Panel.
Rodeway Inn, Lender Advisory Panel.
Novick's Money Market Seminars, panelist.
National Directory of Corporate Distress Specialists, approved management consultant.
Licensed Sports Agent, approved by the NCAA, Major League Baseball Players Association, and the AL Athlete Agents Regulatory Commission.
American Arbitration Association, approved Professional Commercial Arbitrator.
State of Texas Real Estate Commission, approved instructor and writer of courses.
Texas Real Estate Broker's License held for over ten years.
Recognition in Biographical Reference Books
Who's Who in America, 52nd - 56th eds.
Who's Who in the World, 12th - 16th eds.
Who's Who in Finance & Industry, 26th - 29th, 33rd eds.
Who's Who in Medicine & Healthcare, 1st - 3rd eds.
Who's Who in the South & Southwest, 21st - 33rd eds.
Directory of Distinguished Americans, 5th ed.
Who's Who Registry of Global Business Leaders, 1993 - 1994 ed.
Who's Who of Emerging Leaders of America, 3rd ed.
Who's Who Registry of Business Leaders, 1994 ed.
Personalities of America, 5th ed.
Personalities of the South, 14th ed.
Employment History
1986 - Present: Banking, Management & Economic Consultant in Atlanta, Georgia. Consulting and Expert Witness engagements covering all areas of banking, valuation, economics, real estate, international, management, finance, and business.
1985 - 1986: Executive Vice President, Manager of Lending & Board of Directors Member, Home Savings (now Citigroup), Houston, TX. Manager of all lending and mortgage banking. Number Two Executive. Heavily involved in investments and deposit activities. Officer of several subsidiary companies. Member of Loan Committee, Executive Committee, Audit Committee, et al.
1984 - 1985: Senior Vice President, Manager of Lending, First Federal Savings (now Guaranty Bank), San Antonio, TX. Manager of all lending and mortgage banking. Number Two Executive. Heavily involved in investments and deposit activities.
1983 - 1984: Southwest Regional Manager, Ford Motor Credit Corp., Houston, TX. Manager of commercial real estate finance, and some financing with dealers.
1977 - 1983: Regional Manager, Commercial Credit Company (now Citigroup), Houston, TX. Manager of commercial and residential real estate financing for the southwest, and involved in all financial products offered by the $7 billion company.
1974 - 1977: Manager of Commercial Real Estate Lending and Mortgage Banking, Southwest Bancshares (later Bank One, now JPMorgan Chase Bank), Houston, TX. Also involved in the origination and administration of construction loans, deposit and investment activities for lending clients including wealthy foreign nationals, corporate and personal lending, and credit card operations.
1973 - 1974: Assistant Regional Manager and Assistant Treasurer, Citicorp Real Estate, Houston, TX. Mortgage banking and construction lending for Citibank, N.A. (NY), and deposit and investment activities for wealthy foreign clients.
1972 - 1973: Loan Officer and Manager of Lending Department, Gibraltar Savings (now Bank of America), Houston, TX. At age 26, managed the day-to-day operations of Texas' largest S&L (55th largest in the U.S.). Handled construction and subdivision development loans, joint-ventures, and high-volume builder accounts.
1968 - 1972: First National Bank of Mobile (later AmSouth, now Regions Financial), Mobile, AL. Mortgage and real estate specialist in the Trust Department. Trained and worked in all areas of the bank including checking and savings, credit, corporate lending, personal lending, international, investments, trusts, credit cards, and funds transfers.
Key Words to Help Locate This Website:
credit card expiration date
credit card fraud
credit card receipts
FACT Act
FACTA
Fair Credit Reporting Act
Fair and Accurate Credit Transactions Act
Identity Theft
mask credit card expiration date
mask credit card number
truncation
truncation of credit card expiration date
truncation of credit card number
truncation of expiration dates
willful violation
15 USC 1681
15 USC 1681c
15 USC 1681c (g)
15 USC 1681c (n)
15 USC 1681n
Arizona credit card truncation, 44-1367
Arkansas credit card truncation, HB 1269
California credit card truncation, Civil-747
Colorado credit card truncation, HB 02-144
Delaware credit card truncation, SB 11
Florida credit card truncation, Bill No. 20, Bill # 20
Georgia credit card truncation, HB 213
Idaho credit card truncation, HB 134
Illinois credit card truncation, HB 259
Kansas credit card truncation, HB 2676
Kentucky credit card truncation, HB 70
Louisiana credit card truncation, Act 584
Maine credit card truncation, LD 1880
Maryland credit card truncation, SB 25
Michigan credit card truncation, Bill No. 5435, Bill # 5435
Minnesota credit card truncation, SB 506
Missouri credit card truncation, SB 292
Nebraska credit card truncation, HB 276
Nevada credit card truncation, SB 297
New Jersey credit card truncation, S 1149
New Mexico credit card truncation, SB 253
New York credit card truncation, A 5973
North Carolina credit card truncation, HB 357
North Dakota credit card truncation, SB 2037
Ohio credit card truncation, Bill No. 250, Bill # 250
Oklahoma credit card truncation, SB 931
Oregon credit card truncation, HB 2103
Entire Website © 2008 - 2009 by Don Coker
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How Private Equity Firms Can Profitably Invest in Troubled Banks, By Bank Management Professional Don Coker
Private Equity firms can profitably invest in banks by injecting reasonable capital, engaging experienced, professional bank management, and prudently investing the bank’s funds in loans and other investments that make economic sense.
News Bulletin: The old banking model still works, if given a chance
It is quite encouraging that I recently have received numerous calls from Private Equity (“PE”) firms and other investors wanting to buy troubled banks, and seeking either my advice on how to profitably run them, or wanting to hire me to run one for them the way that a bank should be run. In fact, considering what banking has been through in the last couple of years, it’s down right refreshing!
How is it that these people who only a short time ago were relying on alchemistic derivatives schemes and others that purport to guarantee that no one ever loses are now getting some of that old time religion? Thank God for pendulums that swing and for cycles.
Running and restructuring troubled banks is a tough business, and I have been on the front lines several times, primarily hired by the banking regulators as a consultant and “army of one” to run insolvent banks and their wholly-owned mortgage banking companies.
At this point, allow me to cite for you verbatim the entire set of instructions that I was given by a much-older-than-me governmental banking regulatory deputy commissioner immediately prior to my first assignment as a governmental banking Regulatory Supervisory Agent during the mid-1980s-mid-1990s banking meltdown. As we stood in the parking lot of the insolvent bank, he put his arm around my shoulder in a fatherly way and said, “Son, go in there and run that son of a ‘gun’ the way a bank should be run.” (Please notice that I have taken artistic license to clean up his language.)
And the funny thing was, I knew exactly what he meant! I knew how to run a bank, and he knew that I knew how to run a bank. No further instructions were needed. So I went in there and ran it the way that it should be run. After extensive organizational restructuring, financial restructuring, product realignment, staff adjustments, and many other required corrections, the result was that the bank was cleaned up to the point that it was merged into Norwest which soon became Wells Fargo. Not a bad outcome for an insolvent bank.
However, I must mention that there is another factor that has to be considered in a situation like this, and that is the old saying: “When one enters a chess game after the twelfth move, one makes the thirteenth move.”
Accordingly, you do not walk into an insolvent or troubled bank and simply sit down and start profitably banking without first dealing with some highly unusual factors. For example:
• Immediately (assuming you did not do so before accepting the job) examine all regulatory restrictions under which the bank is operating, and make sure that you are in compliance.
• Next, “Job One” is to stop the bleeding immediately. Look for and plug any expense leaks, revenue leaks, and any sources that are producing red ink. This is a major job, and not nearly as obvious and easy as you might think. You will find situations within the bank that everyone there assumes are SOP and okay, and many of them are just flat wrong. Ferreting out these problems is a good way to show the banking regulators that you have a handle on things, and that you are turning things around; and it gives them another reason to leave you alone and to go take down the next guy who is not dealing with his problems.
• Do a profitability analysis on every transactional product in the bank, such as all deposit account types, and all loan types. Dump anything that is unprofitable, even if it means reducing deposits or assets. Recognize that customers come and go and that it is stupid to take a loss on a product in order to “gain a customer” when the new customer will immediately jump ship as soon as your competitor offers him ¼% more in interest on his CD or ¼% less in interest on his loan.
• Jump into the foreclosed properties and those in more serious stages of delinquency, and take corrective actions. Make sure that energetic marketing plans are underway for all properties of all types owned by the bank.
• Determine which officers and employees can help you and which ones are working against you. Impress upon all officers and employees that your success helps the chances of the continuation of the existence of the bank, and concomitantly, their jobs. If some continue to work against you, boot them out.
• Do a periodic GL scrub where you look at every item going in and out. You will be surprised how quickly you can identify problems that are obvious to you but commonly accepted by the bank’s staff.
• Require complete breakdowns on numbers that appear in summary form on financial statements. For example, break down the “Real Estate” heading and see if there are any surplus properties. Look at the “Miscellaneous Assets” as well. (Note: Once while doing this, I discovered a hunting lodge that the staff had been hiding from me.)
• Ask questions AND GET ANSWERS. Do not accept throwaway answers, incomplete answers, or answers that dodge the question. In a troubled financial institution (or corporate) situation, you do not have the luxury of allowing your officers and employees to play games with you. You will probably have to pare down some staff anyway, so start with these non-answerers.
Here are some simple Rules that will help you avoid many of the problems that bank managers have encountered recently:
1. Don’t originate stupid loans. Use your head. Make sure you actually have an excess of collateral value over your proposed loan amount, and make sure that the borrower has the income (now) to make the loan payments.
2. Don’t originate a loan that you would not want to retain in your own portfolio. Be a gatekeeper for the financial system, and make sure that only decent quality loans enter it.
3. Don’t make loans for the wrong reasons, such as: The borrower is financially irresponsible, but he is a relative, neighbor, buddy, golf buddy, lunch buddy, club buddy, hunting buddy, fishing buddy, church buddy, been in town a hundred years, etc.
4. Don’t extend an irresponsible borrower’s loan just because he is a relative, neighbor, buddy, golf buddy, lunch buddy, club buddy, hunting buddy, fishing buddy, church buddy, been in town a hundred years, etc.
5. Don’t hire someone just because he is a relative, neighbor, buddy, golf buddy, lunch buddy, club buddy, hunting buddy, fishing buddy, church buddy, been in town a hundred years, etc.
6. Make sure that you have a healthy spread (at least 3% minimum and hopefully more) between your cost of funds and your interest rates on your loans. (Note: I once worked for a CEO that believed in paying savers 13.5% interest and lending that money out at 8.5%, and people thought he was a genius. I thought he was an idiot. Soon afterwards, he was out of banking.)
The Question of Allowing Private Equity Firms to Buy Banks
Private equity firms have very astutely recognized the potential profits to be realized from acquiring and rehabilitating troubled banks in today’s economy. Every time one of these financial system meltdowns occurs, the handwringers declare that banks are toast and will not survive to be a significant part of the economy in the future. And every time, the handwringers have been wrong. Banks are essential to our economy; and if you look around the world, you will see that every strong economy has strong banks, and every weak economy has weak banks, or virtually no banks at all. Banks in the United States of America will survive and will thrive in our soon-to-be-rejuvenated economy,
It is my opinion that PE firms can inject significant capital funds that will make a positive contribution towards resolving many of the problems in banking today. Even today, there is apparently an incredibly large pool of funds available to be tapped for investment in, among other things, the acquisition of banks. (Don’t take my word for it on the large pool of funds, just ask Bernie Madoff.)
It is also my opinion that the banking regulators are justified in having some concerns about bank owners who have no experience at managing banks. Nevertheless, it is my opinion that it is erroneous for the banking regulators to place unrealistic capital, future funding, and cross-guarantee requirements on PE firms that acquire banks. Enacting these stringent requirements will certainly scare off a potential significant source of capital funds that can be used to recapitalize troubled banking institutions. Furthermore, enacting unreasonable requirements on PE firms that purchase banks is like punishing the guy that closes the corral gate rather than the one who opened it in the first place. Certainly there is some middle-ground position that will be acceptable to the PE firms and the banking regulators.
Having been through the previous banking meltdown in the mid-1980s to mid-1990s, it is my opinion that the banking regulators should welcome the entry of PE firms into the ownership and recapitalization of banks; but the banking regulators should make sure that the decision makers and the top management of each bank are not investment bankers and financial alchemists but rather are truly knowledgeable bankers that know how to run a bank the way a bank should be run. Increased capital, from PE firms and other sources, and competent management will be major steps toward the restoration of the health of our country’s banking system.
© 2009-2010 By Don Coker
About the Author – Banking Management Professional & Consultant Don Coker
Don Coker is a heavily experienced financial institution management professional and former high-level governmental banking regulator who was previously chosen by the banking regulators to serve as an interim manager, banking management and operational troubleshooter, nonperforming loan specialist, and in regulatory oversight positions. Based upon extensive experience and achievements in banking and lending at Citicorp and entities that are now Bank of America, JPMorgan Chase Bank, and Regions Financial, he was chosen to serve as the on-site supervisory regulatory agent interim manager for two insolvent financial institutions and two bank-owned mortgage banking institutions. Duties included the hands-on management of $1.8 billion (2009 USD) in assets including over $600 million in nonperforming loans (troubled loans and foreclosed properties), and participation in the review, restructuring, and recommendation of various recapitalization and merger plans. Mr. Coker also was called upon by the governmental banking regulators to serve in regulatory oversight positions for various insolvent institutions under the supervision of the banking regulators. In addition, Mr. Coker has been called on numerous times by the governmental banking regulators as well as the IRS to serve as their expert witness consultant in various significant banking litigation matters including one matter that exceeded $26 billion in value (2009 USD).
Mr. Coker is active in litigation consulting, serving as an expert witness consultant in over 430 cases nationwide since 1989, and has testified 106 times. He has been engaged by hundreds of law firms including 34 of the country’s top 250. In addition, he has been engaged by 8 of the country’s top 10 banks, over 60 banks worldwide including 12 of the world’s top 45 banks, and 8 of the country’s top 10 mortgage banking companies.
In addition to litigation-related work, Mr. Coker is active in performing business valuations, IP valuations, core deposit valuations, intangible asset valuations, feasibility studies, commercial real estate studies, marketing studies, business plans, anti-money laundering consulting, and advising investment funds on banking matters.
Mr. Coker’s work has involved clients in 27 countries and work covering 56 countries. He serves clients worldwide from his office in the northern metropolitan Atlanta area, and can be reached at:
Bankexpert@cs.com
(770) 852-2286.
http://expertwitness.lawinfo.com/expert/Bankexpert/
http://expertwitness.lawinfo.com/expert/Interim/
© 2009-2010 By Don Coker
A Banker's Guide to Effectively Managing and Marketing Foreclosed Real Estate Properties
By Don Coker
When a bank’s level of non-performing loans and foreclosed assets increases to the point that the bank’s costs and expenses exceed its revenues, the resulting deficit erodes the bank’s net worth and reduces stockholders’ equity. Depending upon the particular bank’s level of net worth, a serious problem will result at some point in time unless steps are taken to mitigate the problems. This article deals with the administration of real estate properties that have already been foreclosed.
It is imperative that the lender examine and thoroughly understand both the loan documents for the particular loan and foreclosure laws in the area where the collateral property is located. Depending upon the various factors contained in loan documents and the nuances of state foreclosure laws, there are usually factors that dictate the timing of when a foreclosure must be initiated. In some cases, a lender’s failure to initiate a foreclosure at the proper time might result in the postponement of the foreclosure to a much later time, allowing further arrearages to accrue and possibly further deterioration or damage to the collateral property.
Once the foreclosure decision is made, the bank needs to automatically involve its foreclosed property department. In a commercial bank, foreclosed real estate properties are referred to as Other Real Estate Owned, or “OREO,” as distinct from real estate owned and used in the operation of the bank, such as the main bank building and bank branch properties. The equivalent term at savings banks is Real Estate Owned or “REO.”
Here are some guidelines for the successful management of foreclosed properties:
• Make sure that the homeowners’ or fire and extended casualty insurance is cancelled and that the property is added to the bank’s blanket insurance policy for foreclosed properties. (Note: I have seen properties lost to fire where there was no insurance coverage due to failure to monitor this activity.)
• Assign the responsibility for managing foreclosed properties to one person. If the level of foreclosures is sufficient to occupy one or more people fulltime, then this person almost certainly must be a new-hire. Don’t rely on the loan officers that initiated the problem loans to begin with to now miraculously solve the problems that they could not foresee in the beginning. It is advantageous to have some “distance” between the OREO/REO managers and the original borrowers.
• Secure the properties immediately after foreclosure or abandonment. Maintain a central key repository in the OREO or REO department.
• Keep the properties looking decent. Do whatever is required to avoid deterioration of the properties. No prospective purchaser wants to buy a problem property or a property that looks bad.
• If the property has problems, find a specialist in buying and fixing up properties, and provide financing to make the deal workable and attractive. Include a commitment to provide financing for the ultimate customer to whom the fix-up specialist will sell.
• Get “For Sale” signs up immediately after foreclosure. (Note: It is astonishing to me how many times I have gone into OREO and REO operations and found management amazed that a property has not sold, yet there is no “For Sale” sign on it!)
• Only list with a real estate agent if truly necessary. Your OREO or REO department will know more about the property than any real estate agent, and your financing to the purchaser will be a major selling point. You - not a real estate agent - control the financing offered.
• Talk to the neighbors of the foreclosed property. Often, their families and friends are prospective purchasers. Your offering favorable financing might be the factor that tilts the scales in favor of a relative relocating close to another relative.
• Inspect the properties regularly, and document what you find. Take any needed corrective actions immediately.
• Offer financing to entice buyers. Remember that a sale turns a cash consuming asset into a cash producing asset.
• Consider holding periods and the net present value of a probable future sale when setting a sales price. The “net” part of net present value allows for the holding costs which include taxes, insurance, any required maintenance, lawn care or landscaping, and any expenditures such as painting, carpet, and any other cosmetic expenditures that may be required in order to market the property.
• Review OREO / REO activities at meetings of the Board of Directors. Directors often have market knowledge and contacts that can help with OREO / REO problems.
Accomplishing all of these items is not as easy as it seems. It requires special expertise to initiate all of these various activities and to keep them moving toward the multiple finish lines.
© 2008 - 2010 by Don Coker
About the Author
Don Coker, as a manager, consultant, and banking regulator, has successfully managed hundreds of millions of dollars of distressed and foreclosed properties of all types including single-family houses, condominiums, subdivisions and land developments, apartments, office buildings, retail shopping centers, warehouses, industrial properties, and many others nationwide. He is available on a contract basis to discuss your bank’s portfolio management needs.
Economic Damages
Mr. Coker offers opinions on compliance with nationwide industry standards for the banking, mortgage banking, lending, finance, credit card, and related industries. And in conjunction with these banking engagements, or as a separate engagement not related to banking, Mr. Coker provides consultation, affidavits, written Daubert-compliant reports, and testimony at deposition and in court nationwide for attorneys representing plaintiffs and defendants involved in economic damages and credit damages litigation.
Mr. Coker has been engaged for over 430 cases in all areas of finance, testified 106 times, and achieved 12 courthouse settlements nationwide in the fields of:
- Economic damages estimates, calculations, net present value calculations, and reports
- Economic damages and credit damages litigation support
- Economic damages assessments for personal injury and death cases
- Economic damages for personal lost wages and business lost income and lost profits
- Forensic analysis of economic damages and credit damages situations
- Credit damage estimates
- Intellectual property damages
- Patent damages
- Real estate damages
- Research on economic damages
- Advice on economic damages issues
- Class action economic damages issues
- Anti-trust economic damages issues
- Credit bureau issues
- Proximate cause of economic damages
- Forensic funds tracing and forensic accounting issues
- FACTA - Fair and Accurate Credit Transactions Act - cases
- Subprime lending issues
- Proximate cause of economic damages and credit damages
- Testimony on economic damages at deposition and in court
- And other banking, finance, valuation, damages, and business related cases.
Mr. Coker is an economic damages valuation expert that is capable of producing a credible value of economic damages for any situation. Alternatively, a critique of an opposing existing economic damages report can be produced.
Background as a high-level banker and lender provides an unusually advantageous foundational viewpoint to provide a credible forensic analysis, and to help explain from a banker's and lender's point of view the proximate cause and negative economic impact of financial circumstances, such as the loss of or damage to credit, loss of income, impaired income, damage to intellectual property assets, damage to a patent, etc., and other forms of economic damages on an affected individual, corporation, or other entity.
Mr. Coker has been engaged by 34 of the top 250 law firms in the United States as well as by hundreds of smaller law firms.
Many economic damages cases involve situations that result in damage to a company. Other cases involve economic damages to an individual. In both cases, the assessment of economic damages involves a process of comparing the net present value before and after a causal damages event. The basic process is very similar for corporations and individuals. Mr. Coker is adept at both, and in 2005 was awarded a Certificate in Business Valuation from the Harvard Business School.
High-level executive experience, over 430 cases, math skills, communications skills, and strong credentials as a widely published author provide a unique set of skills that result in superb testifying techniques and the ability to produce impressive and convincing economic damages reports that are equally understandable by a judge as well as a jury.
Credibility is assured based upon prior positions held at Citicorp, Ford Motor Credit Company, and entities that are now part of Citigroup, Bank of America, Bank One / JPMorgan Chase Bank, and AmSouth Bank / Regions Financial, as well as high-level positions with a governmental banking regulatory agency.
Hired numerous times by the FDIC, Resolution Trust Corporation, Federal Home Loan Bank, IRS (7 times), Federal Savings and Loan Insurance Corporation, World Bank, and other governmental entities as their expert consultant on valuation and other banking and financial matters.
Hired by 8 of the country's top 10 banks, 8 of the country's top 10 mortgage banking companies, and 60 banks worldwide including 12 of the world's top 45 banks.
Work for both plaintiffs and defendants.
Listed in the recommended consultant databases of both the American Association for Justice (f/k/a/ ATLA) and the Defense Research Institute (DRI).
A high level of professionalism and efficient management skills allow for a quick turnaround on short-fused work assignments without compromising quality.
Travel is not a problem, and consulting assignments have been completed for clients in 45 states and 27 foreign countries in the Americas, Europe, Asia, and Africa.
Professional appearance and personable demeanor as well as personal communications skills needed to relate to a jury. Listed in Who's Who in America and Who's Who in the World.
Mr. Coker serves clients worldwide from his office in the northern metro Atlanta, Georgia, area, and can be reached by telephone at (770) 852-2286 or by e-mail at: Bankexpert@cs.com
Entire Website © 2008 - 2010 by Don Coker
Entire Website Copyright 2008-2010 by Don Coker
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