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Current Events, Miscellaneous

Shrinking Competition

12.18.13 | Comment?

The PDF below, provided by the FDIC, shows the 20+ year trend of consolidation in the banking industry. Whereas in 1990 there were more than 12,000 commercial banks and 2800 savings institutions, now the number is less than 6,000 commercial banks and less than 1,000 savings institutions. In other words, competition in the banking industry has been reduced by more than 50% since I graduated from high school.

http://www.fdic.gov/bank/statistical/stats/2013sep/fdic.pdf

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