Banks can improve their public relations strategy by applying lessons from the organic farming industry, which has averaged 13.6 percent annual sales growth during the past five years.
Managers and front line folks readily acknowledge and accept the importance of respecting customers' time. Why would they be any less respectful of their their managers', employees' or their own?
Rather than wait for government or plaintiff lawyers to find them, banks that were involved in the syndication of mortgage backed securities should control their exposure through a proactive, rigorous self-study program.
So far, the bureau hasn't gone after many of the bad guys, even when their misdeeds are chronicled in the press and in civil court filings. Nor has it proposed, even informally, rules to curb known abuses.
"If we shower you with our largesse you will be required to sign away any future claims you may want to file against our valued partners in this agreement: the banks."
