PayThink

For all Citigroup's perceived flaws in the Chuck Prince era, the company seemed to make steady and visible progress under the lawyer's watchful eye in terms of its internal controls and its relationship with the myriad regulators who oversee its far-flung operations. In the past week, however, there have been signs of slippage — with one instance bearing more than a passing resemblance to difficulties it faced before Prince's governmental-relations repair work.

Congress is out this week and Washington will be quieter for it. But the Federal Deposit Insurance Corp. will hold a board meeting on Thursday to discuss rules for investing in or buying failed banks. The outcome could be big news for private equity hopefuls and non-bank lenders looking for more than just a charter.

In tumultuous times such as these, it's no surprise that credit unions will not always be unanimous about the variety of issues they face. As the board of the national trade association representing all credit unions, it's our job to work through the thicket of different opinions and come to what we believe to be the best solutions for the movement as a whole. It's not always easy or straightforward, but through a diverse committee and board structure, I believe all points of view are considered before we make decisions.

Editor's Note: CURE (Credit Union Retired Executives) is sharing advice with Journal readers based on questions it receives and responses from the numerous retired CU execs it has recruited.

Growing numbers of credit unions shuttering branches to drive down expenses. Many slashing operating budgets leaving little money for new brick and mortar. Credit unions seeing members move across town and across the country in search of new jobs.

They came. They saw. They...shrugged.

Why has Congress´ search for accountability in the financial crisis been such a disappointment?

Federal Reserve Chairman Ben Bernanke faces a grilling today by the House Committee on Oversight and Government Affairs on his role in allegedly forcing Bank of America to buy Merrill Lynch late last year. BankThink is bringing you live coverage from the hearing, at which Bernanke will be the only witness. Republicans on the committee turned up the heat yesterday with a memo detailing accusations that Bernanke and other senior Fed officials coerced BofA Chief Executive Ken Lewis to go through with merger despite Lewis´ objections, then covered up information about the enormity of Merrill´s losses. The memo includes excerpts from emails between senior Fed officials revealing key details such as discussions on how to delay Merrill´s public fourth quarter earnings filing, as well as the exclusion of the Office of the Comptroller of the Currency from discussions on the imperiled deal.

Pity the payments executive who travels to countries where the merchants don´t take his network's cards. Every restaurant bill and hotel check-out brings the indignity of paying with another brand of card - and giving business to his competitors.

Remember the good ol´ days of lemonade and big front porches? And grandpa with his candies? And-wait; let´s try that again. Remember when the drive-thru bank tellers at your local branch recognized you and sent lollipops for your kids through the pneumatic tube?