Opinions

If U.S. banks can decrease costs in routine transactions, they will be able to serve mass segments more profitably and invest disproportionately in high-margin services for the affluent.

Innovations can fail catastrophically, as was the case for the mortgage and securitization innovations that precipitated the crisis. Valuable innovation profitably and honestly delivers greater perceived value to customers, without incurring disproportionate cost and risk.

Todd Park is hardly a civil service Yes man. He's a presidential scholar with a Harvard degree and two successful start-ups under his belt.

Financial institutions should, among other things, implement an information governance program, perform periodic privacy audits and learn how data is managed in the cloud.

Banks can get consumers to adopt online banking services by keeping websites simple, communicating a positive message and providing an interactive experience that meets immediate needs.

When industries and business environments evolve, the best and brightest people and organizations in that industry will as well.

The bureau could offer an X Prize, encouraging companies to solve problems through competition or invite applications from entrepreneurs and financial companies, providing those with the most promising ideas a time-limited waiver for pilot tests.

Banks must understand the risks associated with a potential partnership, assess how the effort will support their overall strategy and hire the right talent to manage the venture once it has been approved.

Fraudsters are increasingly preying on the default servicing end of the mortgage lifecycle, where traditional detection methods have not been deployed. Fortunately, there are new ways to spot red flags.

There have been some new twists in the strange case of an alleged attempt to blackmail Mitt Romney for $1 million in bitcoins, raising additional legal questions about the digital currency.