This month, CEO and President of CFSI, Jennifer Tescher, concentrates on the Compass Principles in her American Banker article.

Despite a raft of new regulations and capital requirements designed to protect consumers and strengthen banks, consumer confidence in financial institutions continues to plummet. Eighty-seven percent of consumers have little or no confidence in financial providers across all dimensions critical to trust, according to the Corporate Executive Board's latest quarterly Consumer Financial Monitor survey.

Some 55 percent say institutions don't offer clear and simple policies, while 53 percent don't feel financial institutions share customer values. Nearly half lack confidence that banks live up to their promises and commitments. This lack of confidence reduces product sales and exposes banks to greater competitive threats from the growing number of nonbank innovators.

To stop the slide, the banking industry needs to remind people what it stands for. It needs to demonstrate that it can provide real value that benefits consumers and the bottom line in equal measure.

Click here to read the article in its entirety.