The Best of American Banker 2016: Editors' Picks, Part I
December 23, 2016 11:00 AM
From the election's policy implications for banking to deep analysis of the Wells Fargo scandal, here are some of our favorite stories of the year. Stay tuned for Part II.
<a href="http://www.americanbanker.com/news/consumer-finance/inside-the-ugly-often-personal-fight-for-control-of-green-dot-1081007-1.html" target="_blank">Inside the Ugly, Often Personal Fight for Control of Green Dot</a>
"This story by Kevin Wack gave readers an up-close look at Green Dot's struggles and how the battle for control of the company became so contentious. It was written as a preview to the highly anticipated annual meeting; the day after it ran, the company announced that it was removing Steve Streit as chairman and naming an independent chairman. Streit remains CEO."
Alan Kline, Senior Editor
Community Bank Deep Dives
"American Banker does a great job of taking a broad issue and examining it from the perspective of a particular institution. A pair of stories from John Reosti did that just. In one instance, he looked at the challenges of banks that were still in Tarp with in-depth coverage of Reliance Bancshares in St. Louis. Another story that stands out focused on an investor group's effort to revive First Mariner Bank, a Baltimore institution that many thought would fail during the financial crisis."
Paul Davis, Community Banking Editor
<a href="http://www.americanbanker.com/news/bank-technology/how-barclays-aims-to-bring-a-billion-unbanked-into-the-fold-1081591-1.html" target="_blank">How Barclays Aims to Bring a Billion Unbanked into the Fold</a>
"This story by Brian Eha detailed how Barclays is building a virtual bank aimed at the unbanked. It's an effort underway in Africa, but if it succeeds it could be replicated in other markets."
Alan Kline, Senior Editor
<a href="http://www.americanbanker.com/news/national-regional/reputation-reboot-how-synovus-got-its-good-name-back-1081704-1.html" target="_blank">Reputation Reboot: How Synovus Got Its Good Name Back</a>
"This was a profile of Synovus, led by CEO Kessel Stelling, to accompany our annual reputation rankings . Here's the gist, directly from the story: 'It would be a stretch to suggest that the $29 billion-asset Synovus is healthy again because of its compassion. Two capital raises, the consolidation of its 30 separate charters, a de-emphasis on real estate lending and a painful but necessary round of layoffs all helped Synovus get through the crisis and emerge a stronger, more diverse company. But the bonds it maintained with its customers and communities played no small part in the recovery.'"
Alan Kline, Senior Editor
<a href="http://www.americanbanker.com/news/law-regulation/are-big-banks-necessary-1079790-1.html" target="_blank">Are Big Banks Necessary?</a>
"This sober story attempts to grapple with a complex problem in an effort to push past the ideological divisions over the issue. In the ongoing battle over whether 'too big to fail' still exists, the focus has been on whether a big-bank breakup is possible and how it can be done. But the larger issue of whether it should happen is seldom asked, much less answered. As the story asks, 'Is there a legitimate, coherent business case to be made for the largest and most complex banks to stay large and complex? Do megabanks serve a critical function that justifies their undeniable risk to the financial system?' "
Rob Blackwell, Washington Bureau Chief
"Also, check out the GIF that accompanies the story. It's like watching the Big Bang in slow-motion reverse."
Marc Hochstein, Editor in Chief
<a href="http://www.americanbanker.com/news/law-regulation/clinton-vs-trump-a-tough-choice-for-small-bankers-1080144-1.html" target="_blank">Clinton vs. Trump: A Tough Choice for Small Bankers</a>
"The election dominated the news in 2016 and even in March, it was clear that bankers weren't going to get their first, second or even third choices as their preferred party candidate. As it emerged that Hillary Clinton would face off against Donald Trump, bankers clearly wrestled with the choice, forced to decide between an unpredictable maverick without a clear banking record and a moderate Democrat who appeared likely to continue many of the regulatory policies of President Obama."
Rob Blackwell, Washington Bureau Chief
<a href="http://www.americanbanker.com/news/law-regulation/how-wells-fargo-mishandled-a-reputational-crisis-1091541-1.html" target="_blank">How Wells Fargo Mishandled a Reputational Crisis</a>
"For years, Wells Fargo was widely viewed as the most respected and trustworthy of the big banks by Washington insiders and financial professionals alike. This fall, however, that reputation was in tatters within a few weeks after it was revealed that 5,300 former employees had faked the creation of some 2 million accounts in an attempt to hit sales goals. This story detailed what Wells did wrong and projected its challenges for the future."
Rob Blackwell, Washington Bureau Chief
<a href="http://www.americanbanker.com/news/bank-technology/when-will-fintech-regulation-grow-up-1091743-1.html" target="_blank">When Will Fintech Regulation Grow Up?</a>
"Fintech regulation is one of the most overlooked stories of 2016, as the agencies struggled to grapple with new technologies that are reshaping the financial landscape. As the Office of the Comptroller of the Currency considered weighing in with its own charter (it has since done so), this story examined the state of play for this critical issue, and predicted what would happen next."
Rob Blackwell, Washington Bureau Chief
Mergers and Acquisitions
"Bank consolidation, while off from recent years, still provided several interesting topics of discussion. Thought-provoking coverage in 2016 included a look at the right way to sell investors on a potential deal , how regulatory scrutiny of CRE exposure and the Wells Fargo cross-selling scandal could influence M&A, and the upside of hiring corporate psychologists to ensure a smoother integration process."
Paul Davis, Community Banking Editor
<a href="http://www.americanbanker.com/news/bank-technology/mobiles-future-is-here-too-bad-so-many-banks-are-stuck-in-the-past-1090073-1.html" target="_blank"> Mobile's Future Is Here Too Bad So Many Banks Are Stuck in the Past</a>
"We often hear that the ability to embrace mobile banking is going to eventually separate the haves from the have-nots and this story explores that idea. While some banks have moved on to mobile 2.0 essentially, not viewing mobile banking as a channel, but as the glue of all the channels others are still struggling to offer a baseline product."
Robert Barba, Technology Editor
<a href="http://www.americanbanker.com/news/bank-technology/startup-strategies-to-navigate-the-big-bank-labyrinth-1091739-1.html" target="_blank">Startup Strategies to Navigate the Big-Bank Labyrinth</a>
"The last year was marked by several bank-fintech partnerships, so this story about the challenges that arise when big banks look to work with startups was the perfect pick to open our annual FinTech Forward report."
Robert Barba, Technology Editor
<a href="http://www.americanbanker.com/news/bank-technology/the-future-of-digital-identity-is-up-to-banks-1079943-1.html" target="_blank">The Future of Digital Identity Is Up to Banks</a>
"A smart take on the role banks can play in digital identity. It ponders how banks could turn a regulatory burden into a future business. Essentially, banks are already in the business of verifying the identity of their customers, but some banks are considering how to export and monetize that expertise."
Robert Barba, Technology Editor
