The Checking Perfect Storm Created by m.moebs on 2/23/2022 11:11:05 AM
Walmart and Bank of America are taking over the checking and overdraft business.
These two institutions have 31% of the nation’s checking business now.
Read the story below then email, text, or call with any questions.
Depositories Need to Move Quick to Avoid Going Under
Lake Forest, IL (February 22, 2022) Change checking and overdraft strategy or search for a merger or acquisition partner ASAP. “The transformation in the transaction account business this past year has been dramatic,” exclaims Michael Moebs CEO & Economist of Moebs $ervices, an economic research firm. “Bank, credit union, thrift and fintech executives have never seen anything like this in their lifetimes – a Checking Perfect Storm.”
“The critical element for depository management in the next six months,” notes Moebs, “is to decide how and when to change the policy for checking and overdrafts.” READ FULL ARTICLE