Is there a site setting for the formatting of the display of publish times and updates for Flex?

Currently, the publish time on article detail pages, for example, is displaying a mix of ways:

• Updated 21 hours ago (but no reference to the original publish time of day)
• 1 hour ago (but no reference to the original publish time--even thought it was only an hour ago)
• March 14, 2016 (but no reference to the original publish time of day)

For a reader's reference we need it to display more like on Zen:

Posted: Monday, March 14, 2016 3:30 p.m. | Updated: 3:40 p.m., Mon Mar 14, 2016

Maybe not exactly like so, but with more detail like so.

Is anyone familiar with how this is modified?

And just a side note: I've always wanted to have the ability to change "Posted:" to "Published:" site wide. It would help change the culture in our newsroom. When I can I remind staff that we publish to digital products just like we do to a newspaper page. We post our published content to social media.