Heard this morning on the Wall Street Journal Report on the
radio that the big banks couldn't be happier people are closing their accounts and going to credit unions. They say the people likely to switch are not profitable customers anyway.
Big banks have become so bloated & inefficient that they can't make a profit on "normal" depositors. The inconvenient little secret is: they can't make a profit on large depositors either.
3. That's crap. If it were so, why do they keep angling for all deposits.
They could always make a minimum deposit requirement of six figures and get rid of all of the middle class without any bother. So, why take our deposits in the first place. They don't have to.
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