Having lived for so long in a regulated and semi-regulated environment, many banks retain elements of the mindset spawned by that environment, which includes a preoccupation with process over content and a willingness to settle for less than maximum investment returns. This is true even in the credit card business, which is often viewed as one of the more advanced of retail banking businesses and therefore a model for the rest of banking.

Although clearly advanced, the card business does not yet qualify as a model. But being highly regarded by other bank executives, it will be scrutinized and emulated elsewhere in the industry when it makes any operational improvements, and this will greatly improve overall performance.

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