Everything on the scope of finance is growing more internationally focused.
Ah, getting back to the good old days, one step at a time.
Some instances of this macroeconomic shift are quite obvious; for example, the Federal Reserve
's latest revelation about the distribution of credit default swaps
But other instances are less identifiable — unless you’re a Wells Fargo
customer. And just as the Federal Reserve seems willing to trade swaps with foreign central banks, Wells is also extending the olive branch to its foreign-born retail banking clients. The bank said Wednesday that it is adding the Russian language to all their ATMs. The announcement follows last month's unveiling of the French language option to the cash machines.
I think this is a great idea, not to mention a huge step forward to being open and accepting of other cultures. Wells Fargo has been an international bank since its inception in 1852.
"In a sense, offering multilingual services gets us in touch with our roots of serving the global community," Ileana Bonilla wrote on the Wells Fargo blog.
And you just
thought of this after forcing Russians to bank in English
for more than a century?
Apparently widening international focus isn't a new phenomenon, just a new priority. And it's probably about time, as Wells Fargo has offered clients the ability to transfer funds to and from Russia since 1912.
Write to Christine Ricciardi