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Capital and liquidity challenges, subprime mortgages and bad financial performance hurt reputation over the last year. But many executives agree their companies' management of the financial crisis had the biggest negative impact on their public image.

Rather than invest heavily in one big risky project, banks should concentrate on many small innovations, beta test them and invest where customer feedback is positive.

"Consumers disputed up to 38 million items on their consumer credit reports last year at the three largest consumer reporting agencies, according to a report released Thursday by the Consumer Financial Protection Bureau," writes American Banker's Rachel Witkowski.

According to Federal Reserve Board Chairman Ben Bernanke, regulators are close to completing the Volcker Rule that will ban proprietary trading at U.S. firms.

The House Financial Services Committee addressed concerns for the Commodity Futures Trading Commission regarding the agency's implementation of derivatives provisions laid out in the Dodd-Frank Reform Act.

The Federal Deposit Insurance Corp.'s board of directors voted to approve a $2.7 billion budget for 2013. With fewer anticipated costs for bank failures and their clean-ups, the budget for the upcoming year had an 18% drop from previous years.

"Regulators from the U.S. and the United Kingdom took a major step Monday toward proving that they could dismantle a large globally active financial institution, outlining how the two sides would cooperate in the event of a cross-border resolution," writesAmerican Banker's Joe Adler.

Some readers quickly labeled all 19 megabanks' failure to pass the Office of the Comptroller of the Currency's new risk tests as evidence that "Too Big to Fail" remains very much alive. Others blamed the OCC's stricter standards.

Banks are assuming greater risk on the strategic side, by entering unfamiliar product territory, and on the cost side, by devoting fewer resources for risk management.

This platform will need to be enterprise-level to ensure consistency in the application of economic scenarios, model use and reporting.