PayThink

The bureau could offer an X Prize, encouraging companies to solve problems through competition or invite applications from entrepreneurs and financial companies, providing those with the most promising ideas a time-limited waiver for pilot tests.

The very same low interest rates and easy credit terms that ran up the "for sale" housing business are now busily at work running up the multifamily rental business.

The risk profession continues to aid and abet our tendency to want to quantify everything. But understanding real life is ultimately a social, not physical, science.

Just days after the Senate's top Democrat, Harry Reid, proposed a two-year renewal to the Transaction Account Guarantee program, a leading Republican on the Senate Banking Committee came forward and said he plans to oppose the extension.

The effort to extend the Transaction Account Guarantee, which is due to expire at yearend, received a major "boost this week after Senate Majority Leader Harry Reid unveiled a bill to keep it alive for another two years," writes American Banker's Joe Adler.

CardHub.com blasted the Federal Reserve Board after releasing a report evaluating what credit card issuers are required to tell their customers about possible interest rate hikes.

"The Consumer Financial Protection Bureau said Tuesday it will amend its rule establishing new disclosures for international money transfers in a move designed to ease bankers' fears that the regulation is overburdensome," writes American Banker's Rachel Witkowski.

We now have two different definitions of a "high-cost" mortgage, as well as a "higher priced" mortgage, and a "higher risk" mortgage. Clearly, Congress failed to practice what it preaches.

Banks must understand the risks associated with a potential partnership, assess how the effort will support their overall strategy and hire the right talent to manage the venture once it has been approved.

Banks must take a stand against a shattered culture or suffer the repercussions of a fractured chain of command, reduced productivity, high employee turnover, weak customer service and poor work quality.