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These students have conducted excellent case studies that will provide policymakers with great insight into how BSA AML has impacted community banks. This is the sixth year of the competition, which is open to undergraduate students in all fields of study as an opportunity to gain valuable first hand knowledge of the banking industry. The teams advancing to the second round were chosen from a pool of 37 student teams representing 33 colleges and universities. The case studies will undergo two more rounds of rigorous judging by two additional panels of banking experts. The top five teams will be announced on June 4, and the top three scoring teams will be announced on June 18. Each student member and faculty advisor of the first place winning team will receive a $1,000 scholarship and be invited to present at the CSBS Federal Reserve FDIC Community Banking in the 21st Century Research and Policy Conference. Their work will be published in the annual CSBS Journal of Community Bank Case Studies. Teams that place second and third will also receive scholarships and have their works published in the journal. The current economic situation is unprecedented. How do you put it into perspective?We compare unemployment and jobless claims to crises past and try to get a handle on just how severe of a downturn we are having. People are reporting struggles with their mortgage servicers and getting forbearance or other mortgage payment relief.


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Yesterday, Jon Horne, a PIMCO colleague, pointed me to a column by Nate Silver which takes the analysis an important step further. And Mr. Silver's findings are quite depressing. An anchor for Mr. Silver's analysis is the view that "one of the firmest conclusions of academic research into the behavior of Congress is that what motivates members first and foremost is winning elections. " By combining this with realities on the ground, his analysis makes a strong case for continued political polarization going forward.



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Hailey spends time doing the puzzles with nursing home residents. She always brightens their days. Max Wallack graduated from Boston University and worked as a Research Intern in the Molecular Psychiatry and Aging Laboratory in the Department of Pharmacology and Experimental Therapeutics at Boston University School of Medicine. He is currently a student at Harvard Medical School. His great grandmother, Gertrude, suffered from Alzheimer's disease. Max is the founder of PUZZLES TO REMEMBER.

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