During recession, banks embrace social networking

Several U.S. banks have launched social media efforts—Twitter feeds, Facebook and MySpace pages—to better interact with their customers. The list of banks embracing Web 2.0 include Wells Fargo, Bank of America, Discover, American Express and Citigroup. “Banks say they’re establishing presences on social-networking sites to tap into a growing demographic and to control the conversation about their brands,” Kathy Chu and Kim Thai reported for USA Today . “Yet the economic turm…