Commentary

Self-determination is one of the great assets of the American financial system. Ours is the strongest financial system in the world because financial service providers have the basic freedom to decide what they want to be, and how best to serve their customers and communities. Unlike other countries, we have...

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...