Fifth Third's Kabat: Social media beats CFPB in keeping banks in line

09/24/2013 | AmericanBanker.com (free registration)

Fifth Third CEO Kevin Kabat says that because of their immediacy and ubiquitous nature, Facebook and Twitter are more effective than the Consumer Financial Protection Bureau at keeping banks in line with customers. "While we embrace our regulatory compliance responsibilities with respect to all we do, the court of public opinion and market needs drive our decisions to provide attractive and fairly priced products," Kabat said Monday at a regulatory symposium.

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