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For the past 30 years, Sheshunoff Information Services has published books, newsletters, training courses, web libraries, and work solutions by the country's leading financial institution experts. The Sheshunoff product line covers leading titles on financial topics, from regulatory compliance to information security. For example, the Compliance Officer's Management Manual, is highly regarded for both professional development and as an ongoing reference more than any other book in regulatory compliance.
Sheshunoff is part of Thompson Media Group LLC, a leader in regulatory compliance publications and work solutions. Sheshunoff was originally founded in 1971 by Alex and Gabrielle Sheshunoff, and it quickly became recognized as the industry's gold standard for guidance and analysis. In 1988 Thomson Media, a division of Thomson Reuters, acquired the company. Separately, the Sheshunoffs began publishing AlexInformation products, but Gabrielle Sheshunoff returned in 2004 to unite the AlexInformation, Sheshunoff, and A.S. Pratt brands before selling the firm to TMG in 2008. With Sheshunoff Information Services, TMG continues its rich tradition of offering authoritative, timely, and practical guidance to its clients.
A.S. Pratt & Sons, an imprint of Sheshunoff Information Services, has published legal information and analysis to the financial services industry. Pratt's authors are among the most recognized legal writers in the country covering all major areas of commercial law, including e-commerce, privacy and data security, fraud, financial institutions law and regulation, payment systems, lender liability, bankruptcy, secured transactions, and mortgage lending.
The brand of A.S. Pratt & Sons dates back to 1867, when Adam S. Pratt started in business as a Washington agent for national banks. The National Bank Act, enacted during the Civil War, required each national bank to maintain an agent in Washington, in part because the Treasury issued currency with each national bank's name printed on it. The amount of such currency each bank could legally issue was closely controlled, and the bank's agent personally witnessed the printing of new currency and the destruction of old currency, so the Treasury and the bank were always in accord on how much currency each bank had outstanding.
As time went on, the use of checking accounts largely superseded the practice of banks issuing their own currency, and the practice of printing currency for individual banks was finally ended during the Depression. By that time, Pratt had entered other lines of business, including advising banks on investment policies; compiling and publishing laws, rulings, and regulations of interest to banks; and (during the Depression) serving as a consultant in the liquidation of failed banks.
An employee of A.S. Pratt & Sons, C. Harrison Mann, began writing Pratt's Letter as a young attorney during the Depression. Mr. Mann gradually bought the company from the Pratt family, but it remained a small enterprise; the publication of Pratt's Letter was simply suspended for a time during World War II because Mr. Mann was called to military duty. He wrote a letter to his subscribers announcing that "Pratt's Letter has gone to war," and they all accepted his offer to fulfill the remainder of their subscriptions after he returned from service as a Marine Corps officer in the South Pacific.
Around 1950, Mr. Mann developed Bank Wage-Hour and Personnel Service, a product that continues today. Another publication, Pratt's Digest, compiled rulings of the Comptroller of the Currency. This digest grew into the Federal Banking Law Service. First published annually, it eventually evolved into today's Bank Compliance Expert web library that is updated daily for Sheshunoff/Pratt subscribers.
Sheshunoff Information Services purchased the brand from the Mann family and maintains the high level of publishing excellence. In July 1997, 38 banking-related publications were acquired from Warren, Gorham & Lamont publishers. These titles included the industry's classic Brady on Bank Checks and Fund Transfers. By combining WG&L's banking publications with the existing A.S. Pratt publications, the Pratt brand expanded its legal offerings to its clients.
Today Sheshunoff and A.S. Pratt products remain the most influential solutions for financial services professionals. Articles appearing in The Banking Law Journal have been the recipients of the prestigious Burton Award for legal writing for three consecutive years. Pratt’s The Law of Letters of Credit is the cited by the courts more than any other authority on the subject. Thousands of attorneys and financial institution professionals rely on Sheshunoff and Pratt publications for leading guidance on banking law compliance and regulatory issues.