Wednesday, May 20, 2009

Customers more unhappy with U.S. banks: survey

"Higher fees and a worsening image for U.S. banks have left customers of the nation's biggest lenders more dissatisfied with the service they receive, a J.D. Power and Associates survey shows."

"Only 35 percent of customers polled said they are highly committed to their retail banks, down from 37 percent in 2008 and 41 percent in 2007."

"Rising fees were the main reason that customers switched banks. One in three who changed banks in the last year said they did so because of higher fees, according to the survey, which was released on Tuesday."

"A study late last year by found that lenders were imposing record high fees on such items as bounced checks and ATM charges, while boosting the minimum deposit amounts needed to avoid monthly fees."

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