Trust is a bank’s greatest asset, so why risk losing it? With trust in institutions at an all-time low, customers, especially low-income households, are more skeptical than ever. In her latest American Banker piece, our CEO, Jennifer Tescher discusses the impact of weaker financial regulations and why banks must prioritize transparency and fairness. According to the 2025 Edelman Trust Barometer, 62% of Americans believe business leaders “purposely mislead people by saying things they know are false or gross exaggerations.” Jennifer warns against mistaking the floor for the ceiling. She emphasizes the need for clearer standards in defining financial products to drive better consumer financial health outcomes. Companies need to rethink the way they structure teams, design incentives, and measure success—particularly for those committed to improving their customers' financial health. Read Jennifer’s full piece here and tell us what you think: https://lnkd.in/g4TjRW2t #FinancialHealth #Trust #Banking #Leadership #ConsumerProtection
In this emerging era of weakened #financial #regulation, particularly around #consumerprotection, #banks have their work cut out for them in convincing their customers to trust them. #Government, #media, and #business all face a crisis of trust. Consider this from the 2025 Edelman Trust Barometer: 62% of Americans believe that business leaders "purposely mislead people by saying things they know are false or gross exaggerations." Banking runs on #trust, and the industry has experienced a bit of a trust bump over the last couple of years - in part because of new norms inspired by regulators. As deregulation picks up steam, that trust is banks' to lose. My advice: Be careful in this moment not to mistake the floor for the ceiling. #Regulations are a lower-bound threshold for behavior. Settling for the floor is almost never a winning #strategy, let alone the right strategy, certainly not in the long run. If you missed my talk at #CBALive, I make some of the same points in this American Banker column. Let me know what you think. https://lnkd.in/gn2JgG6r