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Building Trust and Compassion in Banking Through Transparency and Social Capital
Huffington Post
Format: Magazine Article
Publication Date: 2013/04/04/
Sources ID: 47571
Collection: Altruism
Visibility: Public (group default)
Abstract: (Show)
David Brooks recently shared a conversation with a bank CEO. Economists found downside risks to continuing the bank’s presence in Italy. The CEO knew staying there would be unprofitable in the short term but didn’t want to be a “fair weather friend” and so remained in Italy. The CEO knew that banking is driven by trust, a goodwill asset controlled by customer emotions, not bankers. Research suggests positive emotions (gratitude and happiness) increase trust, and negative emotions (anger, betrayal) decrease trust.