March 19, 2013

New York, NY – March 19, 2013 – In the continuing fallout from the mortgage securities implosion, crisis public relations continue to be an integral component of rebuilding the reputations of the nation’s largest banks. Banks are currently engaged on all sides to respond to the public trust quagmire while accusations of shoddy business practices continue.

Combine the public distrust with torrents of lawsuits from plaintiffs at all levels of the mortgage securities market, and the crisis communications of New York banks seem never-ending. What advice are PR agencies giving the New York banks? Continue to say the right thing. More importantly, however, continue to do the right things to bring about the restoration of public trust.

Eventually, the public, who still desire the “American Dream” will want to buy their own home. Furthermore, investors who still realize that mortgage-backed securities remain one of the safest places to invest their money, will lead the surge in renewed interaction with the banks and other lending institutions.

The banks that manage their crisis public relations in the best way will inevitably come out ahead in the wake of what was, by all accounts, an unmitigated disaster. But even the most effective crisis PR will not stop the ball rolling on the blizzard of new claims being filed by regulators, prosecutors, investors, and insurers.

More importantly, banks also have to continue operating their business to satisfy shareholders and turn a respectable profit. While each institution will have its own strategy for accomplishing this primary order of business, the crisis public relations New York City banks choose to employ will play a key role in this enterprise.

Time will tell us who plays this card right. History will tell us who does not.