PayThink

If U.S. banks can decrease costs in routine transactions, they will be able to serve mass segments more profitably and invest disproportionately in high-margin services for the affluent.

Tax incentives and penalties drive behavior regardless of whether or not they represent sound economic reality. And banks will be asked to provide lending and investment support accordingly.

While some may suggest the practice is warranted so agency attorneys can address deficiencies hurting consumers, ultimately everyone loses when opportunities for frank discussion are lost.

Regulators need to create an environment where firms are not afraid to speak out. Banks need to come up with clearer explanations of their business models to prevent the creation of unnecessary rules.

Ensuring that corporate boards include a diverse set of skills, backgrounds and personalities helps against groupthink's dislocation of corporate and shareholder interests.

Innovations can fail catastrophically, as was the case for the mortgage and securitization innovations that precipitated the crisis. Valuable innovation profitably and honestly delivers greater perceived value to customers, without incurring disproportionate cost and risk.

Todd Park is hardly a civil service Yes man. He's a presidential scholar with a Harvard degree and two successful start-ups under his belt.

Congressional approval for a two-year extension would, among other things, prevent more uncertainty, minimize deposit concentration and maximize financial stability.

Transaction-driven marketing not only provides financial institutions with a proven way to monetize their digital banking platforms (online, mobile, SMS, e-mail, ATM), but also enhances member relationships by providing secure, targeted, relevant offers that help members save money on everyday purchases.

Most credit union leaders know not to take anything for granted.