I recently came across an article on the Huffington Post by Brett King, consultant and author of the book, Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services. Entitled "The 5 stages of social media grief", he describes the process that many executives go through as they deal (or don't, in many cases) with social media in financial services. I recommend you read it, whether you see the value in social media or not. It's as much about dealing with innovation as it is about social media.
Social media, and the impact on relationships with your customers, is not a fad. It is (as I've said before) just another extension of the Internet channel. As he concludes, start with the customer in mind and the rest will fall into place. It's pretty sound advice.