Banksters get nervous over bank withdrawals

and speaking of Bank of America....

The nation's 10 largest retail banks are at risk of losing $185 billion of deposits over the next year as customers will look to move primary accounts to community and regional banks that they perceive as being more consumer friendly.

The results of the survey follow a much-publicized grass-roots campaign that urged customers of large banks to move their accounts to smaller banks and credit unions.

In the cg42 survey, which was conducted in June, the bank that could see the largest exodus of deposits is Bank of America; the survey found that 10.3% of its customers could defect to other financial institutions over the next 12 months. Citibank is seen to be the No. 2 most vulnerable bank, followed by Wells Fargo, Capital One and JPMorgan Chase. The least vulnerable of the large banks are PNC, SunTrust and U.S. Bank, according to the survey

Source: American Banker Read More

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