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What Zappos and T-Mobile Can Teach Banks About Customer Service

05/01/15

Too many bank customers feel disgruntled after interactions with their financial institutions' digital tools, calling centers and branches. Banks can solve the problem by taking a page from brands that have successfully marketed themselves as being on the customer's side.

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Morning Scan: Restricting Credit Union Membership; New York Fed's Top Bank Regulator to Depart

05/01/15

Wall Street Journal

Now, not everyone can join. In response to complaints credit unions have expanded beyond their original mission to serve specific population groups, the top regulator of federal credit unions approved new rules limiting CU membership qualifications. Credit unions will no longer be allowed to set up charities and other associations, under their so-called Field of Membership rules, for the sole purpose of attracting new members. The National Credit Union Administration approved the rules...

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Morning Scan: Banks Fight Back in Foreign Bribery Probe; Problems at Bank of Oswego

04/30/15

Wall Street Journal

Over the past couple of years, federal officials have extracted billions of dollars from banks for mortgage-related issues and other various misdeeds. Now it appears banks may be fighting back a little bit harder, at least in the area of probes into alleged bribing of foreign officials. Unnamed sources say JPMorgan Chase is defending itself against the U.S. government's probe into whether it bribed foreign officials in China by giving jobs to "relatives...

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Morning Scan: Banks Anti-Activist Loan Provisions Challenged; Staff Needed at Ginnie Mae

04/29/15

Wall Street Journal

Activist investors have brought about another change to how banks to business. Banks have increasingly pushed for provisions in loan agreements to require corporate borrowers to repay a loan in full if a majority of directors are ousted by activists. Banks are ultimately worried that if an activist seizes control of a board, it might force the company to pursue debt-fueled stock buybacks, which would erode the company's credit rating. However, lawsuits are...

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Three Traits That Power Banks' Best Employees

04/28/15

Banks should place a premium on employees who hold themselves to high standards, care about a greater cause and understand their roleÂ's relationship with the broader organization.

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Morning Scan: Ace Cash Express Hit by Rioters; B of A Probed for Trades

04/28/15

Receiving Wide Coverage ...

Riots in Baltimore: Most media outlets have coverage of the rioting in Baltimore, with at least 15 police officers injured and numerous businesses destroyed or looted, including a branch of Ace Cash Express, following Monday's funeral of Freddie Gray. Officials declared a state of emergency. Protesting the police force's alleged excessive force against the city's minority community, rioters burned and looted a CVS pharmacy and other buildings in the Mondawmin neighborhood. Additionally,...

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How Banks Can Hack Millennial Employees' Minds

04/27/15

Banks can ditch their reputations as fuddy-duddy workplaces by helping millennial employees connect with the social mission driving the company and giving them plenty of opportunities to advance their careers.

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Morning Scan: Deutsche Scales Back; When Bank Taxes Backfire

04/27/15

Receiving Wide Coverage ...

Deutsche to Slim Down: Deutsche Bank plans to get smaller and simpler. The German lender unveiled a wide-ranging strategy aimed at improving profitability and capital ratios Monday, including plans to winnow down its investment banking and retail businesses. Deutsche will also aim to shed another $3.8 billion in expenses and focus on bolstering its transaction banking, asset and wealth management operations. It also announced on Friday plans to get rid of its...

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Morning Scan: Deutsche's Delay Tactics; How to Fix Student Loans

04/24/15

Receiving Wide Coverage ... Sarao's Side of the Story: The London trader accused of triggering the May 2010 stock market "flash crash" denies plotting to manipulate prices by placing and canceling large orders. Navinder Sarao says in past but newly released emails with the British conduct authority that he simply relied on cat-like reflexes to make his moves. He says he might cancel an order because of "a move in one of the other markets thatÂ...

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Morning Scan: BofA Appeals 'Hustle' Ruling; The Hazards of Spoofing

04/23/15

Receiving Wide Coverage ...

Deutsche Nears Libor Deal: Deutsche Bank is expected to announce a $2.15 billion settlement with U.S. and British regulators over Libor rate-rigging charges, according to the papers. That would be the highest fine faced by any bank in relation to the Libor scandal so far. What makes Deutsche so special? New York's Department of Financial Services is involved in the deal, driving up the penalty, according to the Financial Times. The Wall...

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