- More banks are failing. In the years between January 2003 through December 2007, 10 banks failed. In the period January 2008 through October 2013 487 banks have failed, with 22 failures so far this year.
- More banks are merging. Since March 2009, 819 banks or savings associations have merged, typically to survive or to pay the dramatic increase in compliance costs.
- TBTF banks control more deposits. In March 2009, four institutions, Bank of America, JPMorgan Chase, Wells Fargo & Co. and Citigroup controlled 35 percent of all the insured domestic deposits. In June 2013, they controlled 58.8 percent of all 6,940 U.S. banks’ domestic deposits of $5.966 trillion.
- TBTF banks are the ones that are charged for fraud and other crimes over and over again.
Thursday, October 10, 2013
A different world of banking
The Great Recession has certainly changed the banking world.
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