BankThink

Teachers Credit Union's TCU Member Call Center has been certified as a "Center of Excellence" by BenchmarkPortal for the second year in a row.

Credit Union Journal has dedicated portions of the Aug. 6 issue and this current issue to helping credit unions to prepare for their 2013 Strategic Planning sessions.

Alternative revenue is the subject of a new white paper sponsored by CUNA's Operations, Sales & Service Council.

To make your planning more effective, consider these components:

Regulators currently entrusted with the task of policing Wall Street are facing a well-funded, well-connected and politically shrewd beast.

Receiving Wide Coverage ...StanChart Update: Standard Chartered is trying to settle New York state regulators' allegations it laundered money for Iran, ahead of a hearing scheduled Wednesday on whether the U.K. bank should keep its local license, the FT reports. However, there is a sizable bid-ask spread in the negotiations, as it were: Benjamin Lawsky's Department of Financial Services wanted $500 million, and StanChart came back with an offer of $5 million, which the regulator rejected. Although the U.S. Department of Justice was unsure whether to even bother pursuing a case against StanChart ("the conduct was less egregious than what investigators found at other banks," an anonymous source tells the British paper), Lawsky's agency "could intervene because it need only decide whether the bank meets safety and soundness standards to have a banking licence and does not have to prove the merits of the allegations." In an op-ed in the FT, Kishore Mahbubani, a Singaporean academic, writes that Benjamin Lawsky has become "a Lawsky unto himself." His unilateral decision to go after the U.K. bank "appears to have been driven by domestic political considerations, not by the merits of the case," Mahbubani writes. "In the strange political climate of the US, anyone who stands up to Iran is a hero." Lawsky could go public with his charges without the cooperation of nominally more powerful federal agencies because "it would be political suicide to take on a brave crusader battling against Iran. ... The big question that US regulators face now is whether their overall system will work to deliver a fair and balanced judgment on StanChart." For U.S. bankers, Lawsky's actions could have long-term consequences, Mahbubani warns: "Would another regulatory authority someday similarly retaliate against an American bank?" However, in the Journal's opinion pages (which are usually skeptical of regulatory and prosecutorial zeal), columnist L. Gordon Crovitz compares StanChart's alleged actions to the Bank of England's "appeasing Hitler" by transferring gold reserves to Germany's central bank in 1939. "Any bank that helps Iran's nuclear ambitions by undermining sanctions deserves all the harm done to its reputation," Crovitz writes. And for those who are just getting back from vacation and want to get up to speed on the developing StanChart story, this feature from the weekend FT is a good place to start.

Yes, the Wisconsin Republican opposed Dodd-Frank and supports the limited government that many bankers crave. But he'll also help harden the views of an electorate that's already leaning Obama's way.

Many in the industry have criticized the length — 1,400 pages — of the CFPB’s recently proposed rule on mortgage disclosure forms and fees. Why so many pages in order to get simpler forms?

The special inspector general for Tarp worked in the subbasement of the Treasury Department. Watchdogs given an inconvenient, dank, dark, dirty and desolate office maybe won't stay long.

The former chairman of the Securities Industry Association jumps into the Glass-Steagall debate. But instead of championing the revival of Depression-era law that separated commercial and investment banking, he'd like to revive the SIA’s proposed legislation from the 1990s.