In the future web 2.0 will be critical to a bank’s success as people get more involved in using the bank to conduct transactions online banking.  Additionally people are using social media sites at an incredible rate and buying, selling or making brand recommendations based through their networks.  The security issues and legal issues are real but can be limited by how the bank sets up such venues.  For example – none of the social media or web 2.0 would be hosted at the bank or use any of the same security information used for the bank.  The bank’s web site would simply act as a portal for the media site.  Banks have a powerful opportunity to become great social center (and really a better word may be “biz-ocial center”) where people can connect for business purposes while using a social network platform.  The legal issues can be remedied by having the risk placed where it ought to be – on the people engaging in the activity – not the sponsoring organization.  People need to understand that they enter at their own risk – similar to other business transactions.  There must be ways to accomplish this and when it is worked out the banks involved will have the opportunity to develop amazing brands!