PayThink

Contrary to what Stephen Lubben at Credit Slips and other academics have argued, provisions that accord legal certainty to derivatives and foreign exchange - in the bankruptcy code and elsewhere under U.S. law - do not increase systemic risk. In fact, they are fundamental risk mitigants.

The Center for Plain Language gave its WonderMark award (as in “I wonder what they were thinking”) for unclear language to a letter Chase sent credit cardholders in February announcing changes to their accounts.

The Pay With Rewards program allows cardholders to convert points they earn on their purchase into cash credit. This credit can be applied when they make a purchase at any merchant that accepts MasterCard. But this credit will reside on a separate card - think of it as a prepaid debit.

The scenario: Inspired by the high-profile and widely watched NFL Draft at Radio City Music Hall in New York City, credit unions opt to hold their first-ever Credit Union Draft ...

Recent articles have suggested CU members face a greater risk of fraud when using their debit cards than credit cards. Based on our experience in providing fraud protection services for more than one-billion credit card and debit card transactions annually, we continue to believe that debit cards provide members with a safe, convenient way to make purchases and pay bills.

Thank you for opening the dialog on the future of Corporate Credit Unions (CU Journal, April 12). The three choices you presented included having a single national corporate, five regional corporates and the status quo. I would add to those three choices the option of not having any corporates.

Carole Berger, financial services analyst at Soleil Securities, said the Senate hearing on Goldman Sachs pandered to public anger and was probably one of the reasons Republicans gave up their filibuster of the financial reform bill.

Bankruptcy experts at CreditSlips are blogging about the proposed process for authorizing the liquidation of systemically important financial companies.

Just one day after Republicans banded together to block a Senate debate on regulatory reform legislation, Democrats appear to be picking up bipartisan support for a proposal once considered among the least likely to survive, the Volcker Rule to ban proprietary trading.

The greatest threat to the future of the credit union movement is not the banking industry, finance companies or the regulators-it is ignorance. Knowledgeable, well-trained staff and volunteers are the keys to keeping CUs efficient, productive and thriving into the future.