bank fees
2012 retail banking ratings: J.D. Power and AssociatesPosted by RJ and Makay on Apr 19, 2012 |
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While bank customers are still dissatisfied with bank fees, banks are able to counter that discontent with higher satisfaction in other areas of banking operations, according to the J.D. Power and Associates 2012 U.S. Retail Banking Satisfaction Study released yesterday. The study found that overall retail banking customer satisfaction improved by one index point in 2012 to an average of 753 (on a 1,000-point scale).
A continual low interest rate environment and stagnant loan growth are making financial firms a smaller part of the U.S. economy at a time when new regulations are capping fees that banks charge their retail customers. Net revenue at Bank of America, JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley will likely fall 3.7% in the second quarter, the fourth year-over-year decline in five quarters, according to 100 analysts compiled by Bloomberg.
