Banking & Finance

Introduction to Banking

Money

Banking Regulations and Consumer Protection

Financial Services and Products

Credit

Bank Management, Policies, and Procedures 

Marketing Strategies Used by Financial Institutions 

Financial Industry Career Options 

Define the term financial institution. Compare and contrast the types of financial institutions (e.g., commercial banks, credit unions, savings and loans institutions, money center banks) and their major functions, services, and roles with the U.S. banking system; explain their impact on the economy and individual communities.

Investigate the origins and purpose of banking. Explore the history of banking systems from ancient to modern times, evaluating models, milestone events, court decisions, and legislation that contributed to the system used by the United States today. Develop a timeline of major milestones in U.S. banking history. Prepare a presentation on one milestone event to illustrate its impact on banking, citing textual evidence to support the facts in the presentation. 

Identify the characteristics and functions of money as well as the measures used by the Federal Reserve to calculate the money supply. Describe how money is created, valued, and exchanged. Using data from textbook(s) and/or industry publications and media, research and explain how banks make money focusing on the role of savers and borrowers, interest, and the fractional reserve system, citing evidence from the text.

Articulate the purpose, functions, and organization of the Federal Reserve System by describing its structure, including the role of the Board of Governors and Reserve Bank Districts and branches. Identify the Reserve Banks and branches that serve communities in Tennessee and explain how members of the Board of Governors are selected. 

Prepare an informative narrative explaining the chief objectives of American monetary policy, citing specific textual evidence to support analysis. Describe how the Federal Reserve maintains stability of the U.S. financial system by targeting and managing monetary policy.

Research and report on legislation and regulatory changes that have affected financial services and products in the U.S., including the Depository Institutions Deregulation and Monetary Control Act of 1980; Gramm-Leach-Bliley Act (also known as the Financial Services Modernization Act of 1999); the Check Clearing for the 21st Century Act (also known as Check21); and Reserve Requirements.

Identify and describe significant legislation and policies associated with credit and consumer protection, including Federal Deposit Insurance Corporation and National Credit Union Association Deposit Insurance Limits; Credit Card Accountability, Responsibility, and Disclosure Act of 2009; the Dodd-Frank Wall Street Reform and Consumer Protection Act; the Truth in Lending Act; and, the Fair and Accurate Credit Transactions Act.

Investigate banking rules and regulations; research and describe the relationship between local banks and their regulators (e.g., Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Federal Reserve, National Credit Union Administration, Tennessee Department of Financial Institutions, Consumer Financial Protection Bureau) and how each contributes to stability in the financial markets, reinforces public confidence in the banking system, and compliance with applicable laws 

Research financial services and products available across the financial services industry then compare and contrast the benefits and costs of common deposit accounts as well as other products and services, including investment tools. Given a scenario, craft an argumentative essay supported by evidence about selecting a specific financial account or service that will best meet the need of a prospective customer.

Investigate technological advances that have impacted the financial services industry. Working in student groups, prepare an informative presentation for community members about the evolving landscape of e-banking, including security and efficiency considerations.

Simulate or conduct procedures for student and teacher or mock customers. Prepare financial statements and determine efficient and confidential means of distributing statements, ranging from e-banking options to in-person transactions. Demonstrate proficiency in performing account reconciliation. Using a spreadsheet, perform and analyze the compound interest function. 

Explore the concept of credit and articulate the importance of the credit function to society. Working in groups, debate the advantages and disadvantages of credit by crafting claim(s) and counterclaim(s), citing specific textual evidence from news media, professional analyses and scholarly commentary.

Explore credit and lending functions and products available from both traditional and nontraditional (e.g., payday loan) lenders. Compare and contrast the types of loans commonly available to consumers. Assess credit options as they relate to loan applications and design an electronic spreadsheet or utilize an online credit calculator for calculating the cost of credit options. Demonstrate the entire loan process from customer inquiry through funding, including the evaluation of risk, debt to loan ratio, and payment delinquencies. 

Citing information from at least one of the three major credit reporting agencies, describe credit reports and credit scores; explain the impact of credit history on a customer’s ability to secure credit, identifying key factors that influence one’s credit score, such as paying bills on time. Analyze a sample credit report; interpret how the contents may affect a borrower’s credit score, borrowing opportunities, and cost of credit; and, evaluate the credit risk to the financial institution. Role-play the part of a bank credit counselor in a scenario instructing a denied applicant ways to improve his or her credit score.

Research the management and operations structure of a financial institution. Identify key banking positions such as branch managers, compliance officers, loan officers, finance managers, wealth advisors, and financial services specialists and describe their primary functions and responsibilities. Examine financial institution policies and procedures. Draft policies and procedures governing the day-to-day operations of a school-based or simulated financial institution based on the policies and procedures research and a survey of student body requests. Determine profit objectives and roles of employees (students) in the financial institution. 

Explore the role of customer service in the financial services industry. Explain in a written narrative the impact of effective customer relations, including the importance of developing relationships, building rapport and trust, matching products and services to a customer’s needs, and maintaining customer confidentiality. Provide examples of positive customer service through role-play activities with fellow classmates. 

Through a school-based financial institution, role-play situation, or student organization competitive event, conduct banking operations or simulate scenarios to demonstrate mastery of critical thinking, customer service, effective communication, security measures, and related employability skills that are considered essential workplace behaviors in the banking industry. Research workplace issues that may jeopardize customer privacy and confidentiality. Write an informative narrative explaining the importance of ethics and the fiduciary duty between banking professionals and their customers.

Identify specific marketing segments for financial institutions; select a banking product and determine whether mass or targeted marketing strategies would be most effective in reaching the product’s intended customers. Conduct an analysis of multiple case studies to draw conclusions and justify the strategic decision in writing. Develop a marketing presentation targeted at students and teachers related to the school-based or simulated financial institution and/or a specific product/service it offers.

Analyze the impact of competition among financial institutions in the local community; identify the competitive advantages and disadvantages of products and services offered and make recommendations for a shift in marketing strategies, message, and/or pricing based on the research and observations.

Evaluate the diverse careers in banking and finance, including bank managers, loan officers, investment bankers, private client advisors, and similar positions. Complete a career interest inventory and use online resources such as the Bureau of Labor Statistics Occupational Outlook Handbook, Jobs4TN, and the websites of financial institutions, regulators, and/or other related organizations to research employment opportunities. Based on interests and skills, identify relevant careers and determine the educational, experience, and licensure/credentialing requirements. 

Conduct a job search or simulate the experience by researching employment options. Prepare a resume suited for employment searches in the banking industry. Participate in a mock interview with a financial institution, human resources department and/or through participation in student organization competitive events. Participate in job shadowing, internships, and/or career events at a financial institution or other related organization. Keep a journal documenting major worksite experiences and write a letter of thanks to the businesses upon completion of work-based learning experiences.

Explore expectations of working in the financial services industry. Participate in face-to-face presentations or videoconferences with financial industry guest speakers to better understand real-world banking operations, employer expectations, and insight into careers in the industry. Construct interview questions to pose to industry guests. In groups, review the employee handbook of a financial institution. Identify additional expectations and draft an employee handbook for a school-based or simulated financial institution. Adopt the elements of the school-based or simulated financial institution handbook by class consensus.