Commentary

Check 21 is right around the corner-legislation that will revolutionize the check-processing world. It will certainly make its presence felt, from processors to banks and credit unions, and most important, on the consumer. The Check Clearing for the 21st Century Act is the official name of the legislation. It was...

We've all read recently about proposed legislation to strengthen the regulation of Government Sponsored Enterprises (GSEs). The increased oversight either by an agency of the Treasury Department or an independent super agency will, we are told, ensure the safety and soundness of Fannie Mae and Freddie Mac, even in the...

Conversions to banks, along with the high rate of mergers and consolidation within the credit union market, interest us all. In Washington State, these changes are occurring at the highest rate in the nation. Bank conversions are emotionally charged issues, with CEOs citing reasons that include business lending restrictions, capital...

The passage of the amendments to the NCUA's Member Business Lending Regulation in September is evidence of a healthy and vibrant regulatory environment. The Credit Union Membership Access Act ("Act") put restrictions on the ability of credit unions to meet the business lending needs of their members. These restrictions were...

Hindsight, as they say, is 20/20. So when you look back at how credit union technology has evolved over the years, it's easy to view it all as natural, logical, and almost inevitable. But I don't think any of us truly appreciated the significance of each technological advancement as it...

The tactics for growing a credit card portfolio would seem simple: increase credit limits on good accounts to meet increased borrowing needs, adjust APRs to ward off competition for those balances, and consider rewards programs to encourage transactions. These tactics are accompanied by known hazards: higher loss exposure due to...

A lot is happening in the world of share drafts. Merchants and banks are converting share drafts into ACH entries to reduce cost and speed processing, and legislators are passing a law (the Check Truncation Act, also known as "Check 21") that will provide new options for the collection of...

This year, more than $15 billion will be sent (or "remitted") by persons in the United States to their families and friends outside of the U.S. in countries such as Mexico, El Salvador, Guatemala, Honduras and Nicaragua. Typically, persons who make up the large and growing immigrant populations in the...