PayThink

The recent decision by the State of Vermont Department of Financial Regulation ordering the Vermont State Employees Credit Union to stop using words such as "bank" and "banking" in its marketing, communications and advertising begs the question, are you really serious?

Are you thinking RAP is for a different, younger generation? In the world of music, you might be right, but in the world of marketing, it's always No. 1 on the charts. RAP is an acronym for Retention, Acquisition, Prospect.

"The Securities and Exchange Commission and the Commodity Futures Trading Commission have decided not to define loan participation agreements as swaps." writes Allison Bisbey of Leveraged Finance News.

The directors of the newly created Offices of Women and Minority Inclusion recently submitted their first reports to Congress. These reports show a good start, but also illustrate how much remains to be done.

If the agreement is approved, any merchant who has accepted Visa or MasterCard since 2004 will be unable to sue regarding interchange, network rules, merchant fees and related issues, even if that merchant is not receiving funds from the settlement.

Several BankThink opinion columns written by Joel Sucher, published between October 2011 and June 2012, mentioned the law firm of Stephen J. Baum, Litton Loan Servicing, or both. The columns should have disclosed that Baum's firm, working on behalf of Litton, had attempted to foreclose on the writer's property in 2009. American Banker's editors were unaware of this history at the time the columns were published.

While customers resent paying fees for traditional banking services, they are receptive to paying fees for emerging services that support their financial lifestyles.

Regulators implementing Dodd-Frank met with big banks nearly 1,300 times in the past two years, but held only 242 meetings with reform-oriented organizations, according to a report from the Sunlight Foundation.

As the HSBC hearings demonstrate, there's a growing expectation that individuals, not just institutions, will be held accountable. Recent enforcement actions also show a more risk-based, rather than rules-based, approach.

Rep. Jeb Hensarling (R-Tex.) was against Dodd-Frank when he was in the conference committee for the bill and he continues to be critical of the legislation