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USA to banks: We're not into you

Written by Ashwin Rattan Monday, 17 September 2012 21:26
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A recent Time article reports:


The number of Americans who have cut the cord with mainstream banking has risen by 821,000 households in just two years, a newly released survey finds.

 

One in 12 households or 8.3% are unbanked, while another roughly 20% are what researchers call "underbanked."

 

We're ostensibly well into economic recovery, so why are more of us telling our banks, "It's not me, it's you?"

 

To read the full article, goto:

 

 http://moneyland.time.com/2012/09/13/america-to-banks-were-just-not-that-into-you/#ixzz26lSF0C6u

 

In the hard hitting BankRUPT, financial services entrepreneur Carol Realini assesses why the disenchantment with banks is and why it doesn't have to be.

 

Carol pinpoints, a lack of moral leadership, a lack of interest in technical innovation, poor regulation and the consistent placing of industry interests over that of the customer. Carol contrasts the actions of prominent US bankers with the actions of Steve Jobs on his return to Apple.

 

"BankRUPT is a wake-up call not only to America's bankers, but to the nation at large."

 

Jane Thompson, Former President, Walmart Financial Services, American Banker's Innovator of the Year 2011

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