Editorial

Knowing the Rules

It surprises no one that the current financial services environment is awash with new regulation, whether recently enacted or pending. It is also inevitable that we will agree with some of these new rules, even wondering why it took so long to reach such points of common sense, while throwing up our hands in despair at others. Yet we must keep up with them all—understand them and, of course, comply.

In this month’s Channels, we examine a whole rafter of new regulations: To kick off, Henry Wirz of SAFE Credit Union provides his assessment of how the recent financial regulatory reform bill will affect credit unions, while credit union author and consultant, Wendell Fountain looks at the same bill from the point of view of board education.

Under CU Essentials, attorney Dan Loritz reviews the important changes brought about by the overhaul of Regulation Z, which implements the Truth in Lending Act, and you’ll also find the latest on Mobile ACH Payments, Home Equity Conversion Fraud, and the Federal Reserve’s Consumer Compliance Handbook in our News & Updates section.

If your head isn’t reeling by this point, we do hope you’ll find a moment to read how the Payout Ratio can serve as a modeling tool for credit unions and how WesCorp’s new offering, Cash Calculator takes the guesswork out of ordering cash.

There’s a lot to think about in this issue—much of it from guest writers providing their own opinions and points of view. So we’d really like to know what you think. As always, if there is a topic or area you would like us to provide more information on, or perhaps a credit union story, success or best practices account you would like to share with your colleagues; if you’d like to comment on this issue of Channels—or if you’d like to contribute a piece, please email dfigueras@wescorp.org.

We look forward to hearing from you.