Saturday, 30 May 2015

Hate Your Bank? You're Not Alone

From The Motley Fool –

“Earlier this year, Bloomberg published a list of the 20 most-hated companies in America. Four of the five largest U.S. banks, plus the financial services firm American International Group, made the list.

That's a major punch in the stomach for anyone in the industry, even if it isn't a shock.

It would be easy to blame the financial crisis, subprime mortgages, and the past seven years of economic malaise for banking's lowly reputation. But that would be too generous. A new survey points to an even more fundamental problem at the nation's banks: they aren't focusing on their own customers.

Before we dig into what banks are doing wrong, let's acknowledge what is going right.”

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