BankThink

Credit unions have made great strides in protecting their confidential data from outside intruders, but they also need protection from well-meaning employees who use web mail to send passwords and other confidential information to members.

They say that good news travels fast. But, these days bad news seems to travel even faster: with unemployment and food costs at record highs, along with the crisis atmosphere facing the financial services industry, we are in the midst of tough times.

Say it ain't so!

Credit unions have never been the Ebenezer Scrooge of financial services; indeed, credit unions have been his antidote, organized by the Bob Cratchits of humankind who believe in man's potential for a greater goodness if just given the opportunity.

Just because the Treasury Department abandoned its plan to use government funds to buy toxic assets doesn´t mean holders of the pesky things won´t get help from Washington. A private company, SecondMarket, is trying to revive trading in mortgage-backed securities and structured products related to them, and it has turned to a giant figure in banking regulation for help: former Federal Deposit Insurance Corp. chairman L. William Seidman.

Consensus at the National Housing Forum yesterday leaned toward the idea that loan modifications weren't working as well as they ought to be. But what else could help protect borrowers from foreclosures? Many federal policymakers act as though they´ve tried nearly everything.

More evidence that the Federal Housing Administration lacks resources emerged during yesterday´s National Housing Forum at the National Press Club. But will complaints about the FHA´s impaired capacity ever reach the critical mass they need to draw more money to the agency?

The Federal Reserve Board has established a dozen different lending facilities since the financial crisis began, each with its own acronym and big-dollar figures. Can you guess how much the federal government has sunk into the markets this year and how they´ve abbreviated it? Perhaps you should try, before scrolling down for the answers.

A familiar theme emerged from a high-powered panel this morning at the Office of Thrift Supervision´s National Housing Forum. Two more regulators took the time to defend the Community Reinvestment Act against criticisms that it caused the subprime crisis.

The winner of the Banker of the Year award brought an unusual special guest with him to the annual dinner. Bank of America CEO Ken Lewis sat the forty-year scourge of shareholder meetings Evelyn Y. Davis at his side-and he had her good ear.