BankThink

Morning Scan: House Wants Shot at Stumpf; Phones to Replace Banks?

09/22/16

Receiving Wide Coverage ...

Round Two: Congress isn't through with Wells Fargo CEO John Stumpf just yet. Following his pummeling before the Senate Banking Committee Tuesday, Stumpf has been asked to testify before the House Financial Services Committee next week on the bank's phony accounts scandal.

The New York Times' Gretchen Morgenson says Wells' recent behavior was no surprise to attorneys who battled the bank in mortgage foreclosure cases after the housing meltdown. "During the financial crisis,...

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Email Marketing Is Still a Dead End with Seniors

09/21/16

Paper-based marketing Â-- not digital communication Â-- remains a more promising way to reach customers 50 and older, who also tend to be a bank's wealthiest client segment.

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Why Blaming Front-Line Staff for Wells Scandal Makes No Sense

09/21/16

What happens on an executive leader's watch starts and stops with that executive. That is especially true when it comes to sales and sales leadership.

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Morning Scan: Stumpf Grilled; Buffett Protégé Joins JPM Board

09/21/16

Receiving Wide Coverage ...

How long?: Wells Fargo CEO John G. Stumpf told the Senate Banking Committee the bank's pervasive pattern of illegally opening banking accounts without its customers' permission may have gone on even longer than previously believed. "Although the bank has traced the illegal account openings to 2011, it is investigating whether they may have begun even sooner," Stumpf told the panel, according to the New York Times. Stumpf said he found about the...

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It's Time for Banks to Look in the Ethical Mirror

09/20/16

The rampant unethical behavior at Wells Fargo suggests that bankers' ethics are still fundamentally awry eight years after the mortgage meltdown.

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The Silent Crisis in Housing Finance

09/20/16

Contrary to expectations about growing mortgage lending volumes, current industry trends suggest a gradual reduction in capacity for both lending and servicing that should alarm policymakers.

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How to Make Sure Bad Bankers Are Held Accountable

09/20/16

Compensation rules mandated by Dodd-Frank is a potential tool to make executives accountable for misconduct like the Wells Fargo scandal, if regulators are willing to use it.

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Morning Scan: Heat Remains on Wells; Blockchain Editing Tool

09/20/16

Receiving Wide Coverage ...

Deeply sorry: Wells Fargo CEO John G. Stumpf will tell the Senate Banking Committee Tuesday that he is "deeply sorry" the bank opened bank accounts and credit cards for customers without permission and that he takes "full responsibility" for scandal, according to his prepared opening remarks that were obtained by the New York Times and Wall Street Journal. Stumpf will strike "a decidedly contrite tone" before the committee, the Times said. "I...

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While Tempting, Lending Loopholes Could Lead to UDAAP Traps

09/19/16

The Consumer Financial Protection Bureau can determine nearly anything to be an unfair, deceptive or abusive act or practice, and it's more likely to do so when lenders try to take advantage of regulatory loopholes.

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You Probably Can't 'Prevent' Cyberattacks, But Here's What You Can Do

09/19/16

There's no tech solution in the world that can prevent cybersecurity attacks. To mitigate risks, however, banks can apply four controls after they first determine their risk tolerances.

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