BankThink

We are still in the early days of digital finance Â-- but the heated tone of conversations surrounding approaches to data access threatens to keep us there.

Receiving Wide Coverage ...

More pressure on Wells: Two Democrat senators, Elizabeth Warren of Massachusetts and Robert Menendez of New Jersey, asked Wells Fargo's chairman if the board had sufficiently questioned Timothy Sloan about his knowledge of the bank's phony accounts scandal before appointing him chief executive officer. "It is difficult to believe that he had no knowledge of or bears no responsibility for the actions of thousands of Wells Fargo employees creating fake accounts," the...

Mary Mack is beginning damage control as she overhauls Wells' sales culture; Dorothy Savarese talks diversity of bank sizes as she becomes chairman of the ABA; and Elizabeth Warren implores the president to demote Mary Jo White. Also, industry manbassadors talk work-life balance and the importance of flexibility for women as Visa's CEO resigns to devote more time to family. And a couple of small activist firms are taking on gender bias at the world's largest companies.

Receiving Wide Coverage ...

More trouble for Wells: The California Department of Justice has launched a criminal investigation into Wells Fargo to determine if bank employees engaged in criminal identity theft and false impersonation to open accounts for customers without their permission. "There is probable cause to believe that employees of Wells Fargo Bank unlawfully accessed the bank's computer system to obtain the PII [personally identifiable information] of customers," the state's affidavit said. "The bank's employees...

A strong and dynamic risk detection system requires focusing on the most important blind spots not satisfactorily explained by existing tools, rather than focusing on the "answers" produced by those tools.