BankThink

U.S. Bancorp might be well-recognized for its payments innovation strategy, but Dominic Venturo's title still raises a few eyebrows.

Financial institutions must make sure that any federal government regulatory changes involving general purpose reloadable prepaid debit cards are in the best interest of consumers, Frank Cotroneo, COO of NetSpend Corp., told attendees Monday at the 17th annual ATM, Debit & Prepaid Forum in Las Vegas.

Has the recession created a permanent culture of thrift in the United States? The answer, according to Timothy H. Murphy, MasterCard's group executive of core products, is a conditional yes.

This week the House Financial Services Committee will continue plugging away at a gigantic markup of the financial regulatory reform legislation it has produced. The committee will carry on with its debate over a proposed consumer products regulator and then move on to investor protection. If the past two days’ worth of markups is any indication, the partisan divide will dominate. Regulators will be busy this week too, with a Federal Deposit Insurance Corp. board meeting and appearances by Federal Reserve officials.

How would the insurance industry hold up under the scrutiny of a nationwide consumer protection regulator? If the partisan conflicts swirling around Capitol Hill continue to comingle reform issues, that question might be more than just hypothetical. Bickering over healthcare reform could be pushing Congress towards mandating a federal insurance charter.

You can't just offer a service today; you have to do it well. In today's hypercompetitive market, a key strategy for success is design. How do you know if you have a design problem? Research: ask, listen, and learn.

Alternative capital, alternative future?

It's very likely that at your credit union it's time for a good old-fashioned conversation between your staff and your members.

No two credit unions offer exactly the same products and services, and no two do everything in exactly the same way. When credit unions merge, the members of one or both of the credit unions are asked to adjust to some changes. Even when the net effect is beneficial, at least some members will be unhappy with at least some of the changes. Effective management of that inevitable discontent shortens the time it takes for the members to regard themselves as contented participants in the continuing, merged entity.

Tired of hearing warnings that a new consumer financial products agency will hurt your local florist? Eliot Spitzer has a solution. He thinks you should complain to your pension fund or mutual fund about it.