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Reuters. “Lawsuit Against Bank of America Over $10 Billion AIG Case Dismissed.” http://www.dailyfinance.com/2013/11/04/lawsuit-against-bank-of-america-over-10-billion-aig-case-dismis/ Morcrof, Greg. “JP Morgan‟s Failed Twitter Campaign is Just Hilarious.” http://www.dailyfinance.com/2013/11/14/jpmorgan-failed-twitter-campaign-askjpm-hilarious/ “NY surveying banks on cyber security.” http://www.thenewstribune.com/2013/11/19/2900816/ny-surveying-banks-oncyber-security.html Crosman, Penny. “New York Banks to Be Quizzed on Cybersecurity.” http://www.americanbanker.com/issues/178_223/new-york-banks-to-be-quizzed-on-cybersecurity-1063757-1.html Quinn, James. “JP Morgan agrees $13bn settlement with US authorities.” http://www.telegraph.co.uk/finance/10461226/JP-Morgan-agrees-13bn-settlement-with-US-authorities.html Hern, Alex. “Operation „Waking Shark II‟ tests the cybersecurity of Britain‟s banks.” http://www.theguardian.com/technology/2013/nov/12/operation-waking-shark-ii-tests-cybersecurity-banks Ken Sweet, Marcy Gordon, and Pete Yost. “JP Morgan‟s $13 billion deal may not end bank‟s legal woes.” http://www.dailyfinance.com/2013/11/20/jpmorgan-13-billion-deal-may-not-end-banks-legal-woes/ “Co-operateives: the people‟s movement.” http://www.theguardian.com/commentisfree/2013/nov/19/co-operatives-thepeoples-movement “Q&A What is the Co-operative movement.” http://www.bbc.co.uk/news/business-25001444 Treanor, Jill. “Former Co-op Bank chairman had „inappopropriate content‟ on computer.” http://www.theguardian.com/business/2013/nov/19/co-op-group-chairman-len-wardle-resigns-scandal
3. Between Nov.4 and Nov. 19, the media coverage trend has been mostly focused on bank scandals and cybersecurity. The banks that received the most coverage are JP Morgan and The Co-operative bank (the United Kingdom‟s largest consumer co-operative). JP Morgan‟s heavy coverage had a neutral tone about its $13 billion deal to settle the liability to government agencies over mortgage securities; included in this deal is a $4 billion consumer relief package to pay for write-downs of mortgage loans; the bank also had average media coverage with a negative tone on its failed twitter campaign that included the hashtag #AskJPM. The Co-operative bank received heavy coverage with a negative tone over its former boss, Paul Flowers, who was filmed buying drugs, which led to the resign of chairman of the Co-op, Len Wardle; there is also average coverage with a negative tone about $1 billion injected into the bank by private investors for a 70% ownership stake. There is also average to heavy coverage on banks being tested on cybersecurity in New York and in the United Kingdom. Lastly, there was light coverage on the dismissal of Bank of America‟s lawsuit brought by American International Group. The key players in the media are the CEO of JP Morgan, Jamie Dimon, who commented, "We are pleased to have concluded this extensive agreement with the [government] and to have resolved the civil claims of the Department of Justice and others” (Ken Sweet, et al). Len Wardle seems to be the key player for Co-operative Bank as he was quoted at least twice in two articles. Bank of America‟s spokesperson, Lawrence Grayson was quoted about the lawsuit and said "We are pleased with court's decision”; however, he does not provide much information about the lawsuit in general. There does not seem to by any particular key players regarding the cybersecurity trend.
4. PR practitioners who work in the financial sector should be aware of the growing trends by maintaining media tracking. During this period of media tracking, there is more coverage on heightened cybersecurity including tests that are given at random times to various banks. PR practitioners should stay aware of this trend and try to be involved with the media on how well the bank is doing, or what the bank is doing to help stop cybercrimes to reassure its bank members they are secure. PR practitioners should also learn from JP Morgan‟s failed Twitter campaign. JP Morgan opened up to the public and welcomed feedback to any questions; however, given that its reputation is currently badly damaged from several lawsuits, this was not a timely opportunity to welcome the public‟s feedback. JP Morgan was mocked and criticized harshly, which only worsened its reputation by allowing the public to take control of what questions should be asked. This was a good idea to encourage customer feedback, however, if JP Morgan had done its research and media tracking, it should have known and been prepared for such negative responses. Perhaps the bank should have implemented this campaign months ago before its reputation plummeted after several lawsuits that directly affected the bank‟s members. PR practitioners should also stay aware of the internal communication of the banks. Co-operative had several prodromes that signaled a future crisis with its former manager, Paul Flowers. According to the media, there were a few complaints within Co-operative about how Flowers was never involved in the financial sector, and was not credible or fit for his position. The PR practitioner of this bank should have taken this into consideration as soon as the information surfaced, and should have been proactive about it seeing as it could, and did, cause future issues. Perhaps speaking with Flowers about what the media is saying, and providing extra training on everything that goes on at the bank would have been a solution instead of waiting for the information to surface with a crisis as a result. Clearly Flowers did not think the public was watching his moves as the bank‟s boss, and this led to him being caught buying drugs as the media and internal employees watched more closely once they were aware of his incredibility to the financial sector. Going forward, we should anticipate JP Morgan to continue having coverage about the lawsuit settlement of $13 billion, and seeing if they are actually using this money in the ways that were specified in court. If it does not follow through with the agreement, it should expect a worsened reputation. Bank of America seems to be staying out of the media due to all the noise from JP Morgan and Cooperative. It should take advantage of this and strive for positive coverage in the midst of the negativity. 5. Overall, there have been several changes in the media coverage of the financial sector since August 2013. The media coverage was originally about banks, such as Bank of America, BB&T, and Wells Fargo, and their lawsuits over mortgage fraud. As time progressed, more information surfaced on the “banks of the banks”, such as Fannie Mae and Royal Bank of Scotland, and how they were the actual blame for the mortgage fraud, which, in turn, affected the aforementioned banks, like BB&T. It appears deeper investigation has been done to determine why banks like BB&T and BoA were so harshly affected, which is better for these banks since there is now someone else to blame, like the much larger and international banks. Also, whereas much of the news was focused on lawsuits around August and September, more information surfaced on the leaders/workers for the banks. This change was not drastic since the media still mostly covers lawsuits, however, PR practitioners should remain aware of this change in order to better prepare for future media coverage that may look further into the workers of banks. Also, seeing as technology is still rapidly advancing there are more issues with cybersecurity and protection of personal information online. With that, this growing trend of staying prepared and heightening bank cybersecurity should be recognized and emphasized when various banks successfully pass the new tests given by government agencies.