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The article discusses the economic empowerment of youth of color with disabilities. In light of the global financial crisis of 2008-2009, the author believes that there is an increased need for the improvement of financial knowledge and skills of America's youth. Organizations such as the National Association of Federal Credit Unions, the Federal Deposit Insurance Corp. (FDIC) and Citibank have developed financial educational tools. Multiple resources, organizations and steps are listed regarding the financial literacy of students of color with disabilities.

The article focuses on a formal memorandum of understanding signed between the American Veterinary Medical Association (AVMA), Virginia-Maryland Regional College of Veterinary Medicine's Center for Public and Corporate Veterinary Medicine and the National Association of Federal Veterinarians. It mentions that the partnership is aimed to promote veterinary careers in corporate practice and public service. Also presents views of AVMA's chief executive officer (CEO) Ron DeHaven.

Compared to C corporation banks, S corporation banks and credit unions are considered tax-exempt institutions, with credit unions receiving the greatest tax benefit. Institutions can choose to pass this benefit onto customers in the form of higher deposit rates and lower loan rates. We test this hypothesis by analyzing a dataset of 11 distinct deposit and loan products over 15 years and compare interest rates offered by depository institutions partitioned into three size groups. Overall, our results indicate credit unions offer higher deposit and lower loan rates compared to commercial banks, particularly for timed deposits (CDs), money market accounts, auto loans, and fixed unsecured loans. In contrast, S banks and C banks offer similar interest rates on most deposit and loan products. These findings generally hold across all size groups and differences become more pronounced when comparing larger credit unions to commercial banks. Notably, credit unions in the large size group offer better interest rates to customers for all products analyzed. [ABSTRACT FROM AUTHOR]

We document a substantial customer complaint gap between stock and mutual financial firms. To assess whether this 21% per year complaint gap stems from complaint-prone customers in stock insurers, we examine state-adjudicated complaint success. To further delineate between customer selection or treatment explanations, we exploit within insurer complaints around random claims (natural disasters) and attention shocks (media scrutiny). Further tests reveal the complaint gap widens with greater competition, near insolvency thresholds, and with more price regulation. Overall, the results are inconsistent with the hypothesis that mutual financial firms exhibit low customer satisfaction, suggesting customers find this a beneficial organizational structure. [ABSTRACT FROM AUTHOR]

Credit unions compete directly with commercial banks in markets for consumer financial services yet receive an exemption from federal corporate income tax. Commercial banks claim that credit unions are no different than banks and that the credit union tax exemption represents an unfair competitive advantage. Credit unions counter that while they offer similar products and services, they differ from commercial banks in terms of structure and mission, given their not‐for‐profit, cooperative status. In this paper, we test for substantive differences in the objective functions of commercial banks and nonprofit credit unions by comparing CEO compensation structures. Drawing on the relevant principal–agent literature, we provide several arguments to support the hypotheses that credit union boards of directors establish lower‐powered incentive contracts with their CEOs relative to similarly sized commercial banks, and offer lower total compensation. We find that credit union CEOs receive approximately 250% less performance‐based compensation relative to CEOs of similarly sized community banks. Bank CEOs also earn approximately 15% to 20% more total compensation on average. The results are generally robust to controlling for CEO‐ and board‐level characteristics, local economic conditions, and institution‐level indicators of size, growth, complexity, liquidity and risk. The findings suggest important differences in incentive structures and objectives between banks and credit unions. [ABSTRACT FROM AUTHOR]

Purpose: In total, 14 credit unions have acquired 16 banks and savings institutions since 2012; 7 additional acquisitions are in progress and are expected to close before year-end 2019. The analysis of the population of these acquisitions spans the paths of annual differences in CAMEL ratios. Most acquirers have a somewhat revised capital structure and are often benefiting from economies of scope, as well as economies of scale. Since their acquisitions, the acquiring credit unions have become less risky, measured by simulated CAMEL ratios, and they are lending a larger share of their deposits. There is no apparent financial reason to discourage credit unions from acquiring additional banks and savings institutions. The National Credit Union Administration does not need to be particularly hesitant to allow credit unions to acquire banks and thrifts. Design/methodology/approach: Financial analysis is done via simulated CAMEL ratios. Findings: After acquiring banks, credit unions are less risky and lend a greater share of their deposits. Research limitations/implications: The study analyzes the population of the credit unions that have acquired banks since 2012, but the population consists of 14 banks acquiring 16 credit unions. Practical implications: Credit unions should not be prohibited from further acquisitions of banks and thrifts. Social implications: Credit union members are better served after a credit union acquires a bank. Originality/value: No previous study has explored the effects of credit unions acquiring banks and thrifts, which began in 2012. [ABSTRACT FROM AUTHOR]

In the 1960s, improvements in telecommunications and computers sparked the first age of electronic payments in the USA, leading to the development of the Automated Clearing House network. In the decades since, increasingly rapid communications and globalised commerce pushed the industry to develop real-time payments to support the modern economy. A critical moment in the pursuit for faster payments occurred in November 2017 when The Clearing House launched the RTP± network, the country's first real-time payment system. This interview with Tim Mills, Vice President of Business Development and Product Management at The Clearing House, recounts the origins of the RTP± network, shares insights from its first year of operation, and discusses parallels between the development of electronic payments and the race to land a man on the moon. [ABSTRACT FROM AUTHOR]

The article explores the intersection of economic exploitation and patriarchal oppression in the context of the 2005 reforms to the U.S. Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). Topics covered include bankruptcy's macroeconomic function, cultural examples of how feminized consumer identity has taken shape, and challenged to the alleged benefits of the child support prioritization for women.

While the economy has gradually begun to improve following the 2008 Financial Crisis, "Main Street" has not played a large role in the recovery. This is atypical of most recoveries, and particularly disturbing because of the disproportionate number of jobs traditionally created by small businesses. Credit unions, but for the current statutorily imposed cap on their business lending authority, could substantially aid Main Street's recovery. The cap currently restricts a credit union's member business lending to 12.25 percent of its total assets and chills their ability to engage in business lending or to even invest in developing business lending programs at all. This Note argues that raising this cap, as is suggested in proposed legislation such as the Credit Union Small Business Jobs Creation Act (H.R. 688), would significantly assist Main Street's recovery by providing substantial new credit to small businesses, thus promoting the creation of new small businesses and jobs. This Note begins by providing a brief history of credit union member business lending and showing that not only is there no statutory reason for the current cap, but also that the proposed policy justifications at the time of its implementation were greatly overstated. It then explains how the current economic and regulatory environment, along with modern policy considerations, strongly support raising the cap. Finally, this Note shows how currently proposed legislation and agency support would largely alleviate concerns about the safety and soundness of individual credit unions, the credit union system, and the National Credit Union Share Insurance Fund as they relate to increased member business lending authority. [ABSTRACT FROM AUTHOR]

Establishing effective and balanced payment regulation is a difficult and slow process , and new regulations , rules or revisions follow a well-worn but cumbersome path. However , an inclusive, fast and effective method has yet to emerge. The high-level intent and purpose of Remittance 1073's inclusion in the Dodd-Frank Act was meant to remedy remittance problems experienced by foreign nationals working in the USA, but the Bureau of Consumer Financial Protection (CFPB) significantly expanded the scope of Remittance 1073 to regulate all remittance transfers initiated by all consumers sending money internationally. The requirements ask the impossible of FIs , and all but a few have the budgets and sophistication to attempt 1073 compliance. The CFPB must establish, or participate in, open discussion with the financial community in the hope that it will attend, listen, ask questions and learn. [ABSTRACT FROM AUTHOR]

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The article presents information on money laundering and the U.S. Bank Secrecy Act of 1970 for combating money laundering. It discusses the record keeping requirements and law enforcements for regulating criminal and tax matters by the Suspicious Activity Report (SAR) filed by financial institutions. It further discusses the liabilities of banks, case laws and statutes on maintaining business relations with suspicious clients. It also discusses the Financial Action Task Force on Money Laundering.

Editors' Synopsis: In this Article, the authors, reporters for the newly adopted Uniform Limited Cooperative Association Act, discuss extensively the new uniform act. The authors survey the uniform act's various features. The Article serves as a thorough guide to the limited cooperative association, outlining the various considerations that go into creating this business entity, including creation, taxation, allocation of profits and losses, dissociation, winding-up, and dissolution. [ABSTRACT FROM AUTHOR]

An ongoing relationship with government is essential to a robust and evolving business continuity plan. Each level of government plays an important role in handling a disaster, and private sector firms must understand those roles and what they can and cannot expect from the public sector in a time of crisis. Through a relationship with the public sector, firms may be able to obtain daily incident information, access to an operations centre during an emergency, and cooperation in learning more about evacuations, credentialing, pandemic planning and other critical issues. This paper demonstrates the value of forging such a relationship with government through a regional partnership. Especially during a crisis, state and local government cannot coordinate effectively with each individual company. Therefore, coalitions constitute a valuable tool for interaction. Through a regional partnership, firms can also participate in the national public-private partnership on homeland security that has been established since September 11th. The information thus obtained will be most valuable to business continuity planners. Moreover firms will have a voice in government emergency planning at all levels. The first such partnership was established by ChicagoFIRST, and this organisation serves as a case study about the methods by which firms benefit from such a partnership. [ABSTRACT FROM AUTHOR]

Discusses the use of the Section 125 of the Flexible Spending Account (FSA) health reform to help employers in managing health care costs for employees in the U.S. Justifications for FSA; Need for reform on the FSA rule; Perceptions of employees regarding the FSA.

Investigates the allocation of benefits of federally charged credit unions by comparing select employee group (SEG) credit unions with non-SEG credit unions. Identification of the orientation of the credit unions; Measure of net monetary benefits received by credit union savers and borrowers; Use of the measures to develop a relative borrower-saver treatment index.

Examines ways in which lower-income families obtain checking and credit services and the effects that the government move to electronic payment may have on these families and on depository institutions. Measuring income and ownership of checking accounts. INSETS: Account ownership...;Some characteristics of low-...;Where can I cash...;Methods of doing business...

Presents a case study on commercial bank in relation to policy preference formation and subsystem behavior during the period of 1949-89. Methodology used to examine the formation of policy preference; Examination of the observations made in behavioral reflexes; Information on the conclusive findings of the study.

This article seeks to introduce the concept of political power more explicitly into the discussion of the organizational attributes of societal interests. In pursuit of this objective, it defines a set of empirical indicators of the organisational conditions of interest intermediation systems that enhance the exercise of political power. The indicators are illustrated through a comparative study of the banking sector at the European Community level and in five countries: Canada, France, Germany, the United Kingdom, and the United States. The comparison of the banking sector interest intermediation systems shows that the power of banks in Germany rests not only on their equity participation in large industrial concerns, but also on a highly developed interest intermediation system, the most integrated of the five countries. The analysis demonstrates from still another perspective the close imbrication of the state and finance in France. Finally, the article demonstrates the deep fragmentation of the US associational system, a system that has acted as a serious obstacle to banking system reform in America. [ABSTRACT FROM AUTHOR]

Announces the appointment of members by the US Federal Reserve Board's Consumer Advisory Council on January 14, 1998. Background information about the members; List of Council members with continued terms through 1998 and 1999.

Covid-19 altered almost every facet of the human experience in 2020. For those who were lucky, living rooms became offices, cocktail hours went virtual, and spare time was spent exploring [...]

I. INTRODUCTION In late 2013, a multinational gang of cybercriminals began to execute a series of highly sophisticated attacks against more than 100 banking entities across the globe. (1) These [...]

I. Introduction In April 2014, JPMorgan Chase ("JPMorgan") CEO Jamie Dimon warned that even though in 2014 alone the company would spend $250 million and assign 1,000 people to addressing [...]

Banks and credit unions, archrivals for decades, are at each other's throats again. Earlier this month, the Credit Union National Association Inc., released a report from its Renaissance Commission--a body […]

Not long after the Senate voted, the champagne was uncorked and the party began. With a toast, Daniel A. Mica, president and CEO of the Credit Union National Association, saluted […]