PayThink

The motto of the Michigan State University Federal Credit Union (MSUFCU) is" Building Dreams Together" and their actions clearly show that they are true to the words they speak.

I have to agree with Mr. Moriarity's letter to the editor in the Dec, 3rd issue of Credit Union Journal and after reading Mr. Diekmann's article entitled "NCUA Posts More Info About Budget On Site" it just seals the deal.

Know where - and when - your bank's target audience goes online for information and social interaction. It’s better to have just two social media channels that are well-supported than five left unattended.

Only one day after Federal Reserve Board Chairman Ben Bernanke announced that regulators are close to finalizing the Volcker Rule, House Republicans continue their attack.

The Consumer Financial Protection Bureau issued a proposal which would allow banks to test different disclosure programs on consumers. The testing would make disclosures more succinct and cost-effective.

Majority Leader Harry Reid's proposed two-year extension of the Transaction Account Guarantee has been put to a stop.

Capital and liquidity challenges, subprime mortgages and bad financial performance hurt reputation over the last year. But many executives agree their companies' management of the financial crisis had the biggest negative impact on their public image.

Rather than invest heavily in one big risky project, banks should concentrate on many small innovations, beta test them and invest where customer feedback is positive.

"Consumers disputed up to 38 million items on their consumer credit reports last year at the three largest consumer reporting agencies, according to a report released Thursday by the Consumer Financial Protection Bureau," writes American Banker's Rachel Witkowski.

According to Federal Reserve Board Chairman Ben Bernanke, regulators are close to completing the Volcker Rule that will ban proprietary trading at U.S. firms.