BankThink

To act like a startup Â-- as many banks say they want to do Â-- institutions must employ a non-technical strategy: build services based on customers say they want.

Wall Street Journal

Incentives dropped: Wells Fargo said it will stop offering bonuses to its securities brokers for urging customers to take out loans, including mortgages, securities-backed loans and other consumer lines of credit. "Such bonuses usually come in the form of deferred compensation and can add several thousand dollars to a broker's annual pay," the Journal said. Erik Karanik, a managing director at Wells Fargo Advisors, said the move brings the brokerage unit in line...

It is not a clear-cut statement to say Fannie Mae and Freddie Mac need more capital, and it detracts from the real debate over long-term housing finance reform.

Receiving Wide Coverage ...

Confirmed: As expected, Goldman Sachs named David Solomon and Harvey Schwartz as presidents and co-COOs to replace Gary Cohn, who is leaving to join the Trump administration. The naming of two co-presidents to replace Cohn "raises questions about the structure and strategic direction of the company," the Financial Times says, and suggests "a return to a traditional structure that pits an executive from the trading side of the business against one from...

Banks should embrace artificial intelligence so that they can more easily navigate policy shifts that will affect their compliance resources and processes.