J.D. Power: Customers Now Less Loyal to Banks

J.D. Power and Associates released their fourth annual Retail Banking Satisfaction Study today.

The news is not terribly surprising.  Consumers feel less loyalty towards banks, and they think banks care more about profits than customers.  Large banks suffered most;  headlines about the financial crisis and credit card rules surely didn't help.  Smaller institutions are keeping customers happier and getting more new accounts.

While fees often cause customers to leave, they aren't a dealbreaker.  The study suggest that people want to be informed of fees and get their money's worth.  They'll leave if they're nickel-and-dimed by surprise.

You can see more details and bank ratings at JDPower.com.