BankThink

Receiving Wide Coverage ...Citi's Shakeup, Day Two — Receiving Unsolicited Advice and Reassuring Everyone: Yesterday saw the introduction of new CEO Michael Corbat, and today Citi's rolling out the man who installed him atop the bank. Michael O'Neill "represents a new generation" of bank directors, the Times declares, citing his "unusual" decision to visit Citi's trading floors and take a close look at the bank's business lines after he became chairman of the bank earlier this year. O'Neill offers praise for former CEO Vikram Pandit to the Times, but declares that "Mike Corbat has a sort of single-minded data approach that is right for the job today."

And for the same reason those guarantees were limited and temporary – namely, moral hazard – TAG should not be extended.

Lenders and consumer advocates are critical of a probable CFPB compromise in which lenders get safe habor from ability-to-pay lawsuits for all "qualified mortgages" except for those with subprime interest rates.

Relying solely on a fortress mentality that trusts in firewalls, antivirus and other countermeasure technologies has been shown, time and again, to be insufficient.

Repeal Dodd-Frank and replace it with what? "Possible replacements are unlikely to work or to be politically feasible," writes Steven M. Davidoff. And big banks have been getting bigger because it makes economic sense for them, not because Dodd-Frank is spurring them on, he argues.

Nonbank competitors are forcing financial institutions to utilize new skills sets. Conservative thinkers must now be imaginative, followers must become visionaries and the risk adverse must embrace uncertainty. Here's how to develop a forward-looking strategy in the changing landscape.

Breaking News This Morning ...Earnings: Bank of America, Bank of New York Mellon, Comerica, US Bancorp, First Republic, M&T

Bricks-and-mortar locations aren’t yet obsolete. Leading banks are responding to changing consumer demands by developing specialized branch formats, increasing their focus on advice and emphasizing proactive engagement with customers.

In response to repeated charges from Republicans that the Dodd-Frank Wall Street Reform and Consumer Protection Act enshrines too-big-to-fail policies, Barney Frank issued a paper analyzing how the legislation ends them.

If your bank is gung-ho to issue prepaid cards, think again. Focus on how to retain checking account customers, rather than emulating Green Dot and Chase and issuing fee-based "prepaid cards" as a new (already outdated) product.