PayThink

CEO Francis R. Harmon of Delta-Wye Federal Credit Union discusses his issues with the National Credit Union Assoctiation's micro-management style.

As a credit union leader you know this is the time to live up to your title.

To borrow from Mr. Becker's disingenuous BankThink piece ("More Credit Union Business Lending Would Boost Economy"), it's time for our nation's leaders to get serious about credit unions.

Banks spend a great deal of money remodeling branches. Many fork over tens of millions of dollars on remodel initiatives every year, and some of the largest banks will spend over $100 million.

The banking industry, its management teams and boards of directors have been served notice that much more will be required of them.

A lack of jail sentences for financial executives doesn't have to mean justice wasn't done.

The Federal Reserve Board is preparing to release yet another important rule required by Dodd-Frank: how and why fraud occurs in debit card transactions and who should have to pay for it.

Bankers should take these red flags into account when assessing corporate credit and vendor risk. No. 1 on the list: when a company's chairman and CEO are the same individual.

Last week, the Public Company Accounting Oversight Board held its first public hearing relating to its 2011 findings that all of the Big Four CPA firms [Ernst & Young, KPMG, Deloitte & Touche and PricewaterhouseCoopers] have failed to follow generally accepted accounting principles and frequently lack independence from management.

Despite all of the new powers at their disposal, regulators continue to emphasize simplified and standardized disclosure as a critical tool to ensure consumers get a fair deal.