BankThink

Blockchain and payments have come to go hand-in hand since it emerged to power bitcoin, but the real pain financial institutions are looking to solve is enhancing global currency transactions and shortening settlement cycles.

While the Wells Fargo scandal might offer marketing opportunities for community banks, there is concern about regulatory fallout that fails to distinguish between large and small banks.

A strategy to reinvigorate black-owned financial institutions would not only bring hope to the black community but would also be an inspiration for other minorities who seek to be more effectively served by financial institutions that understand their needs.

Receiving Wide Coverage ...Deutsche's turn in the hot seat: Deutsche Bank replaced Wells Fargo as the financial world's favorite whipping boy, at least over the weekend. The Financial Times reports that Germany's deputy chancellor and economics minister, Sigmar Gabriel, "launched a blistering attack" on Deutsche's CEO John Cryan after Cryan last week blamed "forces in the market" for trying to destabilize the bank. "I didn't know whether I should laugh or be furious that a bank which turned speculation into a business model now declares itself the victim of speculators," Gabriel told reporters. Gabriel's comments "suggest that if push comes to shove, the bank can expect little sympathy from Berlin," the FT says.

Consumers are becoming increasingly aware of the double-edged sword that comes from broadly sharing their personal data.

Restoring consumer confidence in financial services won't be easy after the latest banking brouhaha, but the Consumer Financial Protection Bureau can help by proactively holding all mortgage loan officers to the same federal licensing standard.

While some credit unions have embraced some of the changes and are already reevaluating their underwriting policies in light of it, few — if any — are testing the full limits of the new regulations.

In a move that surely surprised the benighted Wells Fargo, one of its big bank brethren has pledged not to take advantage of the scandal. Go figure.

Strategies include developing formal agreements with partners defining the anti-money-laundering requirements and responsibilities that are expected of them.

Receiving Wide Coverage ...Run on Deutsche?: Deutsche Bank shares were under pressure again Friday morning as several large, influential hedge funds moved to pull their money out of the bank, creating what some fear is a Lehman Brothers-type run. But CEO John Cryan told staff the bank has "strong foundations" and urged them not to be distracted by "distorted perception from outside." He said there are "currently some forces at play in the market that want to weaken this trust in us." Wall Street Journal, Financial Times, New York Times