Consolidation and cartel building is the long term strategy of the Big Banks and it seems to go on without much alarm. This is partly because of their patience and partly because other players are distracted by other things; technology, risk management, new capital rules, new liquidity monitoring tools, mortgage insurance changes, etc.. But these […]
A headline in Enterprise Magazine provoked me. The text talked about ‘… collectivizing Canada’s provincial centrals and CUSO’s’ when it was introducing an article on the restructuring and streamlining of second tier entities. In fact the reverse is true. In our quest for greater efficiencies (and scale), control is being concentrated in fewer and fewer […]
FICOM is seeking input on the application from Coast Capital Savings to go federal. One question posed by FICOM is, “Have members been provided with full and fair disclosure upon which to make their decision?” Members of Coast Capital were asked to vote on a special resolution in November. “Full and fair” is not a […]
Coast Capital wants to be a bank. What are the implications?
I just was recently elected to the board of my credit union, and not for the first time! I have been a member-owner, director, manager, and regulator at various times over the last 40 years. Four years ago I assumed the role of General Manager (I retired last July) and I had a chance to […]