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Thursday, September 01, 2011

Chart: This Is How Dead Free Checking Is At Big Banks

This chart from American Banker shows just how many nails are in the coffin of free checking at big banks in a post-Durbin amendment world. That is a whopping drop from 96% of large banks offering free checking in 2009 to only 34.6% in 2011. What's also amazing is just how resilient free checking is at the credit unions and smaller banks, which continue to use it as a marketing tactic to attract customers.

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1 comment:

Anonymous said...

Credit unions don't pay the taxes the banks do, so they can compete with a tremendous advantage and hide behind the Credit Union label. There's a lot more to this. Actually, they are robbing their customers. They should be giving them MORE. Small banks have to, or they won't be able to survive, many aren't.

September 2, 2011 at 3:11 AM

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