BankThink

Just like climate change, it is impossible to deny the gender bias in banking. Instead of sweeping bias under the rug, seek out the inequalities and unfair practices and fix them.

Receiving Wide Coverage ...Wells names senior team: Wells Fargo announced several management appointments Monday even as it continues to try to manage the fallout from its phony accounts scandal. Avid Modjtabai, who previously led consumer lending at the bank, has been named head of a new payments, digital and innovation group. Franklin Codel was named to replace her as head of consumer lending. The two managers were named by President and COO Timothy J. Sloan, who is expected to replace embattled CEC John Stumpf in the next two years. So far, Sloan has managed to avoid being tainted by the scandal. The bank also named several people to its operating committee. The moves are seen as consolidating Sloan's position as CEO in waiting. Wall Street Journal, Financial Times, New York Times, American Banker

In an age in which organizations such as Swift are subject to attack, traditional perimeter security defenses are no longer enough to stop attackers from getting into the system and stealing valuable information.

The Consumer Financial Protection Bureau’s new regulation governing prepaid cards will disrupt consumer practices, drive up costs and wreak havoc on a fast-growing sector within the payments industry.

Current proposals about what to do with Fannie Mae and Freddie Mac that still focus on a government-backed solution are misdirected.

Editor's note: Morning Scan will not publish on Monday, Oct. 10 in observance of Columbus Day. We'll be back on Tuesday, Oct. 11.

Even as mobile wallets continue to struggle with consumer adoption, yet another iteration of payments technology is rapidly coming over the horizon: the Connected Car.

If Wells Fargo employees were fired for trying to stop the bank’s improper account practices, as has been claimed in court, it shines a spotlight on the need for more whistleblower assistance.

Banks must work to attract a diverse workforce through recruiting efforts, and to close the retention gap that sees institutions lose a higher percentage of women leaders compared to those who are men.

Wall Street JournalRules for payment apps: Mobile payment apps like PayPal's Venmo and Alphabet's Google Wallet will be covered by the Consumer Financial Protection Bureau's new rules covering prepaid debit cards. While prepaid cards and mobile payment apps serve mostly different demographics and do different things, "the CFPB views the products as requiring similar types of oversight to ensure customers' money is safe," the Wall Street Journal reported. The payment app providers had objected to their inclusion after the rule was first proposed two years ago. Under the rules, which take effect in a year, prepaid card and mobile app providers would be required to more fully disclose their fees and provide the same liability protection as credit card issuers. The rule won't cover digital wallets that simply store payment credentials, such as Apple Pay. The CFPB has already received more than 500,000 comments on the proposal so far.