Monday, February 14, 2011

"REPUTATION RISK"

From the Editors of American Banker (free 2 week trial available)

"Reputation Risk from Foreclosures Jolts MBS Trustee Banks to Act
Bad: When a newspaper ridicules your CEO for wrongful foreclosures.
Worse: When the foreclosure was initiated by another company.
Maddening: When even top executives at the bank don't realize that — and blame your department.
That's the situation Lee Mitau, U.S. Bancorp's general counsel and an executive vice president, found himself in last month. "

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