DENVER—In response to President Trump’s announcement that he will nominate David Bernhardt as Secretary of the Interior, the Center for Western Priorities released the following statement from Executive Director Jennifer Rokala:
“David Bernhardt’s nomination is an affront to America’s parks and public lands. As an oil and gas lobbyist, Bernhardt pushed to open vast swaths of public lands for drilling and mining. As deputy secretary, he was behind some of the worst policy decisions of Secretary Zinke’s sad tenure, including stripping protections for imperiled wildlife. Bernhardt even used the government shutdown to approve drilling permits for companies linked to his former clients.
“As senators consider Bernhardt’s nomination, it’s crucial they remember that the ongoing investigations into Ryan Zinke’s conduct intersect with policies that David Bernhardt has helped enact. Otherwise, we'll see another Interior secretary fall into the same ethical abyss that ended Ryan Zinke's political career. If a walking conflict of interest like David Bernhardt gets confirmed, oversight and true transparency will be more important than ever.”
Interior approved drilling permits for Bernhardt-linked companies during shutdown [Westwise]
David Bernhardt: Trump’s walking conflict of interest [Westwise]
Full list of 19 of Bernhardt’s conflicts and related DOI policy actions [Center for Western Priorities]
Bernhardt carries with him a card listing all his conflicts of interest [Washington Post]
For more information, visit westernpriorities.org. To speak with an expert on public lands, contact Aaron Weiss at 720-279-0019 or aaron@westernpriorities.org. Sign up for Look West to get daily public lands and energy news sent to your inbox.
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I'm writing with a heads up that J.D. Power has issued the release for the 2019 U.S. Retail Banking Advice Study that measures customer satisfaction with retail bank-provided advice and account-opening processes of six big U.S. banks and 17 regional banks.
Now in its second year, the study surveyed 3,719 U.S. retail bank customers who received any advice/guidance from their primary bank regarding relevant products and services or other financial needs and 3,405 U.S. retail bank customers who opened a new account within the past 12 months.
It finds that big banks are outpacing regional banks when it comes to financial advice, and that this is happening as routine branch transactions drop.
Among the notable findings:
--Customer satisfaction with retail bank advice rises, driven by big banks: Overall customer satisfaction with the advice provided by a primary retail bank increases by 15 points to 819 (on a 1,000-point scale) in 2019 from last year. The increase is driven by big banks, which see an 18-point gain, compared with a 6-point gain among regional banks. Satisfaction with advice at big banks now stands at 826 compared to 800 at regional banks. Big banks not only lead in satisfaction with digitally delivered advice (e.g., website, mobile app and email), but also with face-to-face advice
--Digital advice in focus: A majority of bank customers (58%) say they would like to receive financial advice digitally. Accordingly, advice delivered digitally (via website or mobile app) had the largest satisfaction point gain over the past year (+21 points) and the improvement was most profound among consumers under 40 years old (+30 points)
--Investment-related advice resonates most: Among the most common types of advice retail bank customers seek are investment-related advice (41%); quick tips to help improve their financial situation (39%); retirement-related advice (38%); advice to help keep track of spending and household budgets (33%); and saving for a large purchase (27%)
--Advice satisfaction directly linked to trust, retention and advocacy: Overall, 58% of customers who have received advice say they have acted on it. Among retail bank customers who are highly satisfied with the advice provided by their institution, (overall advice satisfaction score of 850 or higher), 86% say they “definitely will” reuse their bank for another product; 86% are identified as Net Promoters®1; and 44% say they have opened a new account based on the advice received
--Transparency is critical in new account opening, a common venue for delivering advice: When new accounts are opened, transparency about customer benefits and fees is critical. Overall satisfaction with the account opening process increases 161 points when benefits and features are explained completely and 144 points when fees are clearly explained.
Bank of America ranks highest with a score of 839, PNC ranks second with a score of 833, and Wells Fargo ranks third with a score of 828.
Full rankings can be found at the link above.
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