Trust Digest 12 (July 13, 2013)

Banks and trust: No honor system here
Many large universal banks have garnered reputations for serving their interests, sometimes at the expense of communities and even clients. This has induced distrust which has shown up in dramatically lower trust scores for large banks.
Key Word: Honor System
Trust Issues: Integrity, Ethics, Responsibility, Accountability

Lack of trust in government a wake-up call
In June, Gallup released a survey that got a fair bit of attention for its headline finding: Only 10 percent of Americans trust Congress as an institution.
Key Words: Lack of Confidence, Broad Perception of Dysfunction
Trust Issues: Accountability, Responsibility

At Three-Year Anniversary of Dodd-Frank, 68% of Financial Service Companies Say Industry Riskier or Just as Risky as 2007, According to Makovsky Wall Street Reputation Study
The Dodd-Frank Act put in place to avoid another financial crisis celebrates its third anniversary later this month, but 68% of financial services firms say that their industry is now riskier or just as risky as it was in 2007. This is a major finding of the 2013 Makovsky Wall Street Reputation Study, designed to determine the state of reputation of the financial industry and identify best practices and emerging trends.
Key Words: Trust, Risk, Regulation, Consumer Financial Protection Bureau's Database, Governance Policies
Trust Issue: Reputation

Food Fraud: Labels on What We Eat Often Mislead
It feels as though a new age of food transparency has dawned. But has it really? As shown by Europe's recent horsemeat scandalundefinedin which scores of products labeled as "beef" were found to contain up to 100 percent horsemeatundefinedand arrests last spring of Chinese traders who were allegedly peddling rat meat as lamb, there's still considerable mystery around where a lot of our food comes from.
Key Words: Food Transparency, Food Safety Modernization Act (FSMA)
Trust Issues: Integrity, Ethics  

Transparency International stands by data in poll
Transparency International is standing by its findings on Taiwan reported in its latest report on corruption but acknowledged misidentifying the polling company that actually did the survey and the method used.
Key Words: Transparency International, the Global Corruption Barometer report
Trust Issues: Transparency, Accountability, Responsibility

Good and Bad Bank Capital
Three years after President Obama signed Dodd-Frank, U.S. financial regulators have taken their first significant step toward protecting taxpayers from giant bank failures.
Key Words: Dodd-Frank, Federal Deposit Insurance Corporation (FDIC)
Trust Issues: Responsibility, Accountability

China Absent From Corruption Report
On Tuesday, Transparency International published a report it had been touting in recent weeks as the “biggest-ever public opinion survey on corruption.”Yet despite the breadth of its research – 114,000 people surveyed in 107 countries – Transparency International doesn’t mention China once in its 48-page Global Corruption Barometer 2013.
Key Words: Transparency International, Corruption, Bribery, Malfeasance, Influence Peddling
Trust Issues: Transparency, Reputation

Six Whopping Lies Told About Entrepreneurs ... Sometimes By Entrepreneurs Themselves
As more people aspire to become entrepreneurs, it is important to dispel many of the misperceptions about this species. Here are six big ones that even some entrepreneurs believe.
Key Words: Entrepreneurs, Vision, Systems Thinking, Strong Analytic Skills, “Humbition”
Trust Issues: Benevolent Concern, Responsibility

What Are The Limits Of Transparency?
Transparency has become a popular concept in management circles in recent years, no matter how little enthusiasm you may have for the word itself. Increasingly, we are asking ourselves, “How much transparency is the right amount?”
Key Words: Transparency, Fostering Trust
Trust Issue: Transparency

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