Finance

August 23, 2018

Rarely has the disconnect between negative media coverage and reputational damage been this clear. And it demonstrates in vivid and tangible ways how leaders of financial institutions need to rethink reputational risk – how to define it, defend against it and mitigate the damage when reputational events occur. President Trump returns from Helsinki to a …

August 23, 2018 Read More

June 25, 2018

So, what is the difference between a reputational hit that ends up being just a blip, and one that becomes an extinction level event? Following are five ways to assess your exposure. Yet new studies are telling us that even after a crisis of major proportions, most companies’ share price returns to normal valuation in …

June 25, 2018 Read More

June 13, 2018

“The singling out of Wells Fargo by USAA as a target for patent infringement litigation is a reflection of Wells Fargo’s recent loss of reputational value as a result of other well-reported activities,” Kossovsky said. “All other things being equal, Wells Fargo is relatively more vulnerable than its peers, its defenses more likely to be …

June 13, 2018 Read More

April 20, 2018

“Having been damaged, Wells Fargo really has only one option: to rebuild its reputation,” he said. Kossovsky defines reputational risk as the peril of economic or political damage from energized, disappointed stakeholders including customers, employees, regulators, creditors, and investors. “It’s painful to say that nobody cares about a $1 billion fine, but the general population’s …

April 20, 2018 Read More

March 23, 2018

The rules, which the company described as “common-sense measures,” echo similar restrictions established by some major retailers, like Walmart. But they also represent the boldest such move to emerge from the banking sector. The new policy, announced Thursday, prohibits the sale of firearms to customers who have not passed a background check or who are …

March 23, 2018 Read More

February 21, 2018

HSBC has warned that it could pay at least $1.5bn in penalties over alleged tax evasion and money laundering at its Swiss private bank, casting a shadow over Stuart Gulliver’s final day as chief executive. The estimate underlines how the outgoing HSBC boss has struggled to get to grips with the string of scandals thrown …

February 21, 2018 Read More

February 20, 2018

It singled out the bank’s relationship with Scott Tucker, a former race car driver sentenced earlier this year to more than 16 years in prison for running a fraudulent payday lending operation. The U.S. Justice Department said Minneapolis-based U.S. Bancorp “willfully” failed to maintain adequate safeguards against money laundering, leading the bank to miss suspicious …

February 20, 2018 Read More