Wells Fargo recently unveiled a “command center” aimed at monitoring and responding to mentions and trends on various social media platforms. Renee Brown, SVP and Director of Social Media, spearheaded the initiative and recently chatted with SmartBrief to share some of the details. What follows is an edited version of that conversation.

What are the goals of the command center?

This is a capability that we have been developing for about 18 months. It is something that was one of the first items on our strategic agenda for social media for Wells Fargo. We’ve been pulling together the right infrastructure to enhance our social media capabilities for many years, so now we are building this like a business to get really serious about understanding the importance of context. Just like any other type of business, you have to understand the relativity of what is happening. You have to gauge the degree of sentiment and the degree to which a topic is trending. (read more…)

A collection of stories from SmartBrief publications and around the web…

Gold? Silver? Or Bronze?: From a commodity standpoint, which type of Olympic medal would you prefer? As the medal count keeps climbing in Sochi, OpenMarkets offers an analysis of which medal … err, metal … is really most valuable.

When Wall Street helps: Great story about a former JPMorgan hedge fund banker halting his finance career to lead the charge in funding research to cure for Duchenne muscular dystrophy to save his son. Ilan Ganot did what any dad would do; and his friends in finance have stepped up to help.

Branding and fees breed breakage: Consumers have not forgotten the financial crisis. And traditional banks increasing fees for basic services like checking and ATMs equates to inviting customers to leave. So when beloved, non-financial brands like Starbucks and Google unveil financial services offerings, it is no wonder they capture market share. (read more…)

A roundup of all the best financial news and analysis from Day 2 of the World Economic Forum Annual Meeting in Davos, Switzerland.

Global bank capitalization much improved since crisis: Despite talk that little has changed, banks’ capital positions are much better than they were before the financial crisis, Bank for International Settlements General Manager Jaime Caruana said on CNBC. The quality of capital also has improved, a factor that is sometimes overlooked, Caruana said.

Mixed messages from ICBC: Jiang Jianqing, chairman of the Industrial and Commercial Bank of China, talked with CNBC Thursday in Davos and ruled out the possibility that the bank would repay investors for losses related to a fund product that soured. But that doesn’t jibe with what local media reports back in China. Shanghai Securities News quotes an unnamed ICBC official as saying, “ICBC won’t ignore the issue of its reputation. … The ICBC has not shirked its responsibility and pushed these investors to go chase China Credit Trust Co Ltd for payment. (read more…)

Three thoughts on the $13 billion settlement JPMorgan Chase has tentatively agreed to with the U.S. Justice Department:

This is what happens when the Wall Street-Washington revolving door is removed from regulating: JPMorgan initially offered 1$ billion to settle. Then reportedly upped its offer to somewhere around $3 billion. Regulators like the Securities and Exchange Commission or the Commodity Futures Trading Commission would have jumped at any of those dollar figures, accepted a settlement whereby JPMorgan wouldn’t admit any wrongdoing, and called it a day.

But the dynamics at the Justice Department are different. Most of the people at DoJ neither came from Wall Street, nor expect their next job offer to come from Wall Street. That meant they could play hardball. DoJ not only upped the price tag to $13 billion (with some help from the FHFA), but they refused to grant the banks immunity from criminal prosecution – a reportedly key contention during the negotiations. (read more…)

The 5-year anniversary of the Lehman Brothers bankruptcy has sparked numerous retrospectives of the financial crisis (and the response to the crisis). Here are 12 of the better reads out there:

Bloomberg makes the most of some great access it got to former Treasury Secretary Hank Paulson.

Hamilton Place Strategies dives deep on the issue of “Too Big to Fail”

Phil Angelides, the chairman of the Financial Crisis Inquiry Commission, counts down 5 things that must be done to prevent another crisis.

BreakingViews delivers a 5-part series on the crisis that is one of the few that includes a look back on the Northern Rock debacle.

InvestmentNews weighs in with a view from the perspective of financial advisors.

The Economist tracks the some critical changes in the finance landscape with some nifty charts.

The Brookings Institution thinks things are safer now.

Former Secretary of Labor Robert Reich writes at Huffington Post that we aren’t safer and calls for resurrecting Glass-Steagall. (read more…)