PayThink

William Isaac, who led the Federal Deposit Insurance Corp. from 1981 to 1985, thinks the panic that gripped financial markets in 2008 and the ensuing recession did not have to happen and that the Troubled Asset Relief Program, which was sold to Congress and the public as essential to calm the markets, actually did more harm than good.

In response to Henry Wirz's May 3 column in Credit Union Journal, "One Option to Consider: No Corporates At All," I agree with his statement that a future without corporates would be a bad thing. But I disagree with his view that smaller corporates, because of their size, provide less value to credit unions.

Ignoring new technological tools only limits the opportunities to operate with maximum efficiency, and therefore increases the likelihood that if a CU weathers the current financial storm, it will by no means be a viable competitor when the market stabilizes.

For credit unions in need of submitting HMDA data immediately, the following tips could greatly increase their chances of avoiding hefty fines and penalties.

Cleaning out the notebook: CU perspectives from the Best Practices in Retail Financial Services Symposium; Ludwig on what he would do if he were a bank manager today; and more.

Not unlike the “cash for gold” peddlers on late-night television who encourage consumers to hock that old pendant of Great Grandma Sue’s, Sears Holdings Corp. is helping customers exchange their old jewelry for cash, so they can buy nice shiny new things in its stores.

The merchant lobby has long positioned interchange fees as an issue affecting small, mom-and-pop businesses, but Visa Chairman and CEO Joseph Saunders called efforts to regulate these fees a victory for big-box retailers like Wal-Mart.

After surviving the longest recession since the Great Depression and other unprecedented challenges in 2009, credit unions continue to face obstacles to achieving earnings goals in 2010.

British betting firm Ladbroke's is famous for offering opportunities to wager on just about anything. Yet you wouldn't have found the company allowing you to gamble on who would be the next CUNA chief.

Advocacy is the No. 1 reason credit unions belong to CUNA; that isn't going to change with Bill Cheney as President and CEO.