bank rates

Proof: The Bankers Just Don’t Get It

How out of touch can the banking industry possibly be?

Shockingly out of touch, according to a recently released survey by the Bank Administration Institute, an independent research firm based in Chicago.

Banking surveyWhen the initial Bank Consumer Sentiment survey was taken last August, it found that bankers think their customers have a much more favorable opinion of them than we really do.

Given the arrogance the banking industry has demonstrated since its irresponsible lending trashed the economy, we really weren’t surprised.

But the latest survey taken in February shows that bankers thought our opinion of them had actually improved.

Of course it didn’t. We think they’re even more wretched now than we did last summer. (The survey’s key index of consumer sentiment fell a substantial 19%.)

We’re absolutely baffled by what the bankers thought they had done to make themselves more loveable?

Was it all of the homes they foreclosed upon? Or all of the credit cards they cancelled? Or the higher rates and lower spending limits they imposed on those cards they were still honoring?

Did they think we were feeling warm and fuzzy over all of the loan applications they were rejecting, or the record low interest rates they were paying on our savings?

Or perhaps it was the millions of dollars in bonues they “earned” while relentlessly opposing every new rule or regulation intended to keep them from wrecking the country again?

These guys really need to get a grip.

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Comments (3)
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3 Existing Comments
  1. Jason said:
    on June 2nd at 01:26 pm

    What kills me is when some banker complains that more regulation will stiffle innovation. Well, yeah. Lets hope so. Because innovation in their world means derivatives and exotic loans. All of the stuff that caused all the industry to implode. They want us to trust them again.

  2. Nico Roche said:
    on June 2nd at 03:07 pm

    To Whom it may concern:
    I would be interested in opening your bank branchs in Houston, Texas and/or any where in Texas, I would like to also broker stated loans in Texas, for both residential and commercial loans. There is a great demand for those loans here in Houston, and Texas. Also a need for a bank that offers the servies you provide. Plus a great bank where Texas labor works with a lot of CASH funds who are searching for a trusted bank that will also provide great rates of returns for their Cash.

    Look forward to hearing back from your.

    Respectfully,

    Nico B. Roche

  3. Joe said:
    on June 3rd at 10:11 pm

    well said