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The Ortonville Independent
Ortonville, Minnesota
November 9, 2010     The Ortonville Independent
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November 9, 2010

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BABYSITTING CLINICS were held in Ortonville and Clinton Oct. 21-22 for youth in grades five through ei,ht. Many activities were held for the youth. Those attendinR the Clinton Clinic are pictured above. In front frim left to right are Brittany Larson, Kaylee Athey, Morgan Benson, Christina Menge and Carissa Vanderwal. back row left to right are Alma Jorgenson, Mikaela Bork, Katelyn Costello, Cheyenne Arndt, Mackenzie Fitzner, James Frickson, Matthew We|lendorf and Nathan Strong. Those attending the Ortonville Clinic are pictured below. In front from left to right are Tyler Ruby, Kayla Giese, Clarissa Blake, Jaiden Conroy, Hayley Dittel and James Lee. Second row left to right are James Conroy, Britton Conroy, Collin Hartman, Kaitlyn Hartman, Mikayla Hooser, Mackenzie Spaulding and Amanda Lee. Back row left to right are Dani Oakes, Emma Ostlund, Emma Botker, Alisha Ross, Mercedes Bender, Sydney Hynnek, Callie Void and Stephanie Rausch. I INDEPENDENT WANT ADS BRING QUICK RESULTS! ] Maytag  French Door Refrigerator Color LCD dissplay Refrigerated pantry 25cu.ft. LED lighting Energy-saving design 10-year compressorwarranty MFX2571XEM Maytag  Dishwasher SteamClean option JetClean Plus Wash system QuietSeries'M 400 Sound package MDB7759AWS -   2. "! Maytag  Performance Series Advanced vibration control Commercial-grade stainless steel wash basket Smooth Balance'%uspension system MHWE2OOXW / MEDE2OOXW Maytag Freestanding Electric Range Precision Cooking TM system in both ovens Hidden bake element 10-year limited warranty on burners and grates MET8885XS Maytag Microwave and Hood Combination Predsion Cooking" system 2.0 cu.ff. 300 CFM & removes odors MMV5208WS Maytag Performance Series Fresh Hold" option with DynamicVenting Technology 10-year limited warranty on washer motor and basket IntelliDry Sensor MHWE450WW / MEDE500VW Money Management Financial reform and consumers: What to expect In July, President Obama signed into law a new financial regulatory reform bill that will have an impact everywhere from Wall Street to Main Street. While many of the law's provisions will not take effect immediately, consumers should be prepared to see changes in the credit arena and elsewhere now and in the future. The Minnesota Society of CPAs (MNCPA) offers some perspective on what you can expect. Landmark legislation The Dodd-Frank Wall Street Reform and Consumer Protection Act has been called the most significant financial reform effort since the Great Depression. It was passed in response to the financial meltdown that occurred in 2008, which caused havoc in the stock and credit markets and sent shudders through the real estate market. The law is generally intended to tighten regulations to prevent another economic crisis in the future. While many of its provisions are aimed at big banks and other financial institutions, the law features numerous consumer safeguards. A new consumer watchdog One significant initiative for consumers is the Bureau of Consumer Financial Protection, a new agency under the auspices of the Federal Reserve that will regulate most consumer lending and investment products to ensure greater transparency and fairness. The bureau, which is not expected to begin setting policy until early next year, will have the power to establish regulations for mortgages, credit cards and student and payday loans. It should also be able to issue rules in many areas without waiting for congressional approval, which could speed necessary reforms. Revised mortgage rules Many changes affecting mortgage lending have already become effective. For example, before approving a loan, mortgage lenders must verify that the customer can actually afford the payments based on his or her income, credit history and other factors. While it was often possible in the past to get a mortgage without an income check, this practice led to turmoil in the credit and real estate markets when many borrowers defaulted on their loans. The upshot is that you should still be able to qualify for a loan that is reasonable based on your income and circumstances, but those who are self- employed or have an irregular income stream may face stepped-up documentation requirements. Other mortgage rules attempt to prevent deceptive, abusive or unfair tactics, and make it easier for consumers to understand the details of the deal. In addition, the Emergency Homeowners Relief Fund, which should begin operating this month, will offer help to qualifying consumers who are having trouble paying their mortgages. Bank deposit insurance The new law also raised to $250,000 the amount that is insured when you deposit money in a bank, thrift or credit union covered by the Federal Deposit Insurance Corporation. This amount was temporarily hiked from $100,000 during the financial crisis in 2008, and under financial reform that increase has now become permanent. Couples are insured for a joint account as well as two individual accounts, meaning that up to $750,000 of their deposits are insured. CPAs advise that you confirm that your financial institution is FDIC insured so you know that your money is protected. Consult your local CPA The CPA profession's 360 Degrees Of Financial Literacy Web site offers many tools to help consumers make sense of complicated financial decisions. And keep in mind that CPAs have a tradition of serving the public interest and advising clients on smart financial choices for themselves, their families and their businesses. Whether you have questions about the impact of financial reform or on any economic decision, turn to your local CPA for the advice you need. The Minnesota Society of Certified Public Accountants (MNCPA) serves the public interest by advancing the highest standards of ethics and practice within the CPA profession. MNCPA delivers on that promise by offering extensive continuing professional education and resources; advocating for members and the public with regulatory agencies and boards; and mentoring and encouraging the CPAs and business leaders of tomorrow. Founded in 1904, MNCPA's 9,400 members work in public accounting, business, industry, government and education. To locate a CPA, visit or call 800- 331-4288. Thank you for your support!' It's a privilege to serve as your State Senator Prepared and paid for by the Friends of Gary Kubly for State Senate Committee, PO Box 31, Granite Falls, MN 56241 Page 14 00IHDEPENDENT Tuesday, Nov. 9,2010 .