PayThink

A new definition: "Leadership is sustained followership toward a shared vision." Why followership? What is a leader without followers!

BETHPAGE, N.Y. — Bethpage FCU has unveiled its new Bethpage Ballpark sign on the home ballpark of the minor league Bethpage Ducks.

Credit unions both as a community and individually have hired some famous names to act as spokespersons over the years. But one credit union may have set a record for famous spokespersons with its latest TV ad.

Some 7,000 community banks have been thrown under the Dodd-Frank bus and are feeling the full brunt of the financial "reform" legislation. The 2,300-page bill will heap at least 10,000 pages of new regulations on community banks while doing almost nothing to solve the problems that brought us to financial panic in 2008.

In the business of growing checking account revenue, we see clear winners and losers as a result of the Fed's proposed rulemaking on the Durbin Amendment, and some for whom the status quo will continue to exist.

On behalf of the Board of Directors, employees, and partners of Northeast CUSO we want to take this opportunity to express our deepest gratitude to Fred Healey for his years of service to our company.

The Fed's data dump Thursday was at least as noteworthy for how it was disclosed as for what it disclosed. The information was made available on computer disks – wait, people still use those? ­– that reporters could pick up from the Fed’s building in Washington (or have mailed to them if they were willing to wait). Viewable on the disks were reams of documents captured in an overwhelming number of unsearchable PDF images meant to be opened one by one.

It is high time mortgage lenders stopped acting like victims and started exercising the responsibility that comes with the rich fees they earn from lending. And why on earth would banks not want to police their brokers?

Maybe the idea was that banks were too stupid to see that they needed to "consider" ability to pay, but once compelled to consider it, they would make better lending decisions.

A number of years ago an executive from Marriott Hotels was speaking to a credit union audience about that company's management practices and some of the lessons it has learned. That included being especially responsive to guest feedback. And yet, as that saying goes about the best-laid plans...