Trust is fundamental to all banking services. Banks act as safe houses for customer funds, issuers of credit, and guarantors for new business partners. Yet despite trust serving as the cornerstone that the banking industry is built on, Acting Comptroller of the Currency Michael Hsu doesn’t think customer faith can be taken for granted.
“Trust can be defined as ‘the willingness of a party to be vulnerable to the actions of another,’” Hsu told attendees at the Woodstock Institute conference in June.
