BankThink

No one liked it when interest interest rates hit 21% in the early 1980s, but the actions of the Federal Reserve under Paul Volcker helped save the U.S. economy from true catastrophe. That kind of leadership is lacking in today’s Washington.

Respecting employees’ time and expecting them to respect others’ sets a tone. It brings structure to organizations and fosters professionalism, reliability and trustworthiness.

Roughly two dozen countries have issued central bank digital currencies or have pilots underway. But until financial services firms strengthen the security of their mobile apps, these payment tools are unlikely to gain widespread acceptance.

Government officials spend a lot of time criticizing banks for gouging customers even though their own statistical reports demonstrate that fees are not a major issue for consumers.

By helping consumers understand how to manage their money in a world of shifting financial options, banks can differentiate themselves from new competition and stay relevant.

The digital-only bank, which is due to launch March 1, is trying to develop an Amazon-like banking experience for the most finicky of clients: tech startup founders, says CEO Mike Butler.

Sarah Bloom Raskin, President Biden’s pick to be the Federal Reserve Board’s vice chair for supervision, has had a distinguished career as a state and federal banking regulator. Her belief that banks should identify assets that are subject to climate-related shocks sounds like basic risk management, not a radical call to action.

The registry created by the law — whose implementing rules are being written now — is worse than useless, pairing unverified data with severe penalties for misuse. It will confuse bankers, burden small businesses and embolden crooks.

The country that gets it right first will see rapid business and job creation, attract the world’s best and brightest minds and set the standard other nations will follow.

Minnesota Bank & Trust dropped Mike Lindell as a customer after the committee investigating the Jan. 6, 2021, attack on the U.S. Capitol subpoenaed the Trump supporter's telephone records. But its rationale for doing so needed more explanation.