Banks Are Corrupt and Greedy (Except for My Bank)

American Banker Magazine recently published a reputation survey that showed respondents are more likely to give their own financial institution higher reputation scores than other banks. 

For the big banks, the gap was greatest and overall scores were generally lower. It seems that battered institutions like Citigroup (NYSE: C  ) and Bank of America  (NYSE: BAC  ) are still trapped in the mud of 2007 and 2008. Regional banks contrast that, though, with banks like Huntington Bancshares  (NASDAQ: HBAN  ) and Suntrust (NYSE: STI  ) scoring higher and with less of a gap between customers and non customers.

In the video below, Motley Fool contributor Jay Jenkins discusses the results and the takeaways.

Many investors are terrified about investing in big banking stocks after the crash, but the sector has one notable stand-out. In a sea of mismanaged and dangerous peers, it rises above as "The Only Big Bank Built to Last." You can uncover the top pick that Warren Buffett loves in The Motley Fool's new report. It's free, so click here to access it now.


Read/Post Comments (4) | Recommend This Article (2)

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  • Report this Comment On July 09, 2013, at 8:45 PM, neamakri wrote:

    I moved my accounts to a local Credit Union.

    Very satisfied, sleep better every night.

  • Report this Comment On July 10, 2013, at 8:07 AM, Rusty56 wrote:

    Nice job as credit unions pay NO tax - go figure.

  • Report this Comment On July 10, 2013, at 8:16 AM, MightyMinnow wrote:

    A bank use to be a place where people would put money so people couldn't touch it. The bank paid us well. Now the banks want people to pay them to let people have access to our money. The mattress has much more protection.

  • Report this Comment On July 10, 2013, at 12:01 PM, rsinj wrote:

    MightyMinnow - you need to bring your thinking forward from the 1970's to the 21st century.

    Back when you were a whipper snapper if you wanted to touch your money you had to go to your bank during bank hours (M-F 10AM to 4PM) - ATMs were the newest thing (I think in the 1980's) - and most often you were charged a fee - even if it was your own bank's ATM. Use another bank's ATM to get to your money - would never happen.

    You can still have the bank to be the place to put your money that you can't touch it - and there would be no charges - there are still CDs and money market accounts - no fees for them if you keep a minimum balance. Just don't think that the interest rates you were used to back in the 1970's will be available today.

    And what's wrong with charging people for access to their money? If you want to use a debit card, ATM, online banking - these things all cost money to operate - who is going to pay it? The guy who the bank is lending your money out at a 3% mortgage who decides to default? It costs money bud.

    The mattress has more protection? Big talk, no action. A silly saying is just that - silly. How many people do you know who keep all their money as cash in their home?

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