Commentary

Discretionary overdraft protection, when done right, provides one of the best member services credit unions can offer as an alternative to the thousands of check cashing outlets on street corners throughout so many underserved neighborhoods. These check cashers have taken the business of millions of our members and built a...

We at CUNA are encouraged at the alacrity with which bankruptcy reform has come to the forefront. Nearly overnight, the long-sought legislation has been brought up in first the Senate (see related story on page 4), and then the House. We are optimistic that this year may finally be the...

The good news is that the financial health of credit unions is sound. Over the past four years, assets and net worth ratios have increased; delinquency ratios have decreased; and loan-to-share ratios have slowly recovered. Nothwithstanding these positive indicators, I see some storm clouds on the horizon for credit unions....

For nearly 10 years, I have led an effort in Washington to tighten the federal bankruptcy laws. Today policymakers are dealing with a number of troubling deficits, from the federal budget to U.S. trade receipts. Unfortunately, we are running a hefty surplus when it comes to personal bankruptcies. Last year...

After extensive review and in-depth analysis of prompt corrective action and capital standards, the NCUA released last week its draft report entitled, "Prompt Corrective Action Proposal for Reform." This report is a significant step forward in NCUA's efforts to support an effective and solid risk-based capital system for the nation's...

Each new Congress presents unique opportunities and challenges, and the 109th Congress that was gaveled into session on Jan. 4 is likely to be no different. NAFCU's leaders and lobbyists were fortunate to meet with many key legislators when they returned; and though I am not one to make predictions,...

The beginning of the year is often marked by forecasts. Pundits and prognosticators forecast what is in store for every field including sports, business, politics and entertainment. With the responsibility of running an electronic payments business, it is essential to consider what might happen in the months ahead that could...

The Sarbanes-Oxley Act (SOX) proposes new rules and guidelines to improve corporate governance practices in the USA. Some observers say that the added cost of SOX in time, money and effort is burdensome, while others grumble that all corporations are being made to pay for the sins of a few...