Friday, November 28, 2014

Welcome To First Whineancial... (2015 Ad Campaign #5)...


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WELCOME TO FIRST WHINEANCIAL !!

Your Hometown Boink
"Where We Come First®"

We're always interested in hearing from our customers!

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Yes, at First® we still ...

The End Of An Era....."Oh, Please" ???



NCUA RBC experts:
"Big hat, no cattle"
As credit unions prepare for yet another head-on collision with NCUA's much-ridiculed, risk-based capital (RBC) "experts", it might be hopeful to take note of a recent U.S. District Court decision concerning disparate impact, which is unintentional discrimination by lenders against minorities and others.  

The decision was rendered by Judge Richard Leon in the District of Columbia, right there in the backyard of the U.S. Supreme Court. The case was a challenge to the pursuit of disparate impact claims against lenders under the Fair Housing Act (FHA). The judge basically said that the FHA covered only intentional discrimination and not unintentional discrimination, which certainly rings true in terms of fairness and common sense. Regardless of your politics, the concept of disparate impact is the slipperiest of slippery slopes in terms of legal ethics.


But what the Court said about the federal government's case (HUD was the agency) was of greater note: "Another example of an administrative agency trying desperately to write into law that which Congress never intended to sanction."  You will unfortunately see another agency, dearer to your heart, cross-validate Judge Leon's statement in January.  Wonder if credit unions have considered and planned for that eventuality?

When the government contested his right to even consider the matter since the courts should defer to the wisdom of administrative agencies, Judge Leon gave a very precise two-word reply to express - appropriately - his disdain.

He simple said...

Thursday, November 27, 2014

Welcome To First Whineancial ... (2015 Ad Campaign #4)...


TODAY'S BLOG IS BROUGHT TO YOU BY:


"You can't do worse than First®!"



WELCOME TO FIRST WHINEANCIAL !!

Your Hometown Boink
"Where We Come First®"

Wishing you a Happy Thanksgiving!!

At this time of year, remember: 

"It's more blessed to give than receive."


That's why First®, on behalf of our investors and bonus-baby CEO, would like to say to each of our customers...


The Facts Of Life.....



"It is difficult to get a man to understand something, when his salary depends on his not understanding it."

- Upton Sinclair



Wednesday, November 26, 2014

Welcome To First Whineancial... (2015 Ad Campaign #3)...



TODAY'S BLOG IS BROUGHT TO YOU BY:

"You can't do worse than First®!"


WELCOME TO FIRST WHINEANCIAL !!

Your Hometown Boink
"Where We Come First®"

Little late on your car payment this month?  

Don't worry, we won't hesitate to come right out...


The Rule Of Law....


EXCEPT IN BANKING...

"Banking means never having to say you're sorry."
- from Love Story ( the movie, 1970)

Tuesday, November 25, 2014

Welcome To First Whineancial.... (2015 Ad Campaign #2)

TODAY'S BLOG IS BROUGHT TO YOU BY:

"You can't do worse than First®!"


WELCOME TO FIRST FINANCIAL !!

Your Hometown Boink
"Where We Come First®"


We have convenient branches everywhere...





An "Independent" Federal Agency...


Say Amen!

"A man's* worst difficulties begin when he is able to do as he likes."

- Thomas Huxley


* also applies to women and "independent" federal agencies.

Monday, November 24, 2014

Welcome To First Whineancial... (2015 Ad Campaign #1)...


TODAY'S BLOG IS BROUGHT TO YOU BY:


"You can't do worse than First®!"





WELCOME TO FIRST WHINEANCIAL !!

Your Hometown Boink
"Where We Come First®"

With low rates on savings and lollipops for the kids,
we serve a lot of...




On Regulatory Capture...






Ms. Gretchen Morgenson is a much heralded, business columnist for the New York Times.  In her writing, she generally "tells it like it is" and doesn't suffer fools - or foolishness - very lightly.

Her Sunday column (Nov. 23, 2014) was about "regulatory capture"; a topic made infamous last week when the NCUA manufactured "that threat" as their excuse for using an old KBG playbook to run the Agency (Here are Chair Matz' video remarks at CUTimes - take a look for yourself). 

Of course, Ms. Morgensen was writing about the Fed, not the NCUA.  The New York Fed has come under sharp criticism for being too close to the major Wall Street banks - i.e., regulatory capture. Three short paragraphs 1) stated the core problem, 2) suggested a solution, and 3) outlined why the change was necessary.

1) CORE PROBLEM: "The Federal Reserve Board prefers to operate in a shroud of secrecy, and its officials really don't like having to answer to anybody."

2)  SOLUTION:  "Investors would benefit from greater disclosures by the Fed... The Fed, for example, reveals only final results of its "stress tests" that measure banks' health.  If you required it to disclose those models, you would facilitate cross-bank comparisons ... You'd also create incentives for the banks to disclose more and more about their own models."

3) AND, WHY...:  "There is another benefit to increasing transparency at the Fed.  It would be a singularly powerful force against regulatory capture."

Think the NCUA will take this opportunity to be creative, lead the way, set a new standard of professional regulatory excellence....