Switching Banks
Terence O'Hara writes for the Washington Post about the increased marketing emphasis being placed by many banks on convincing you to leave your current bank for the greener pastures they promise to provide.
Bank executives used to focus on savings accounts and commercial lending, but now see consumer checking as a foundation of their business, cheaper than ever to manage and something of a loss leader for loans, investment accounts and the broad supermarket of services that banks have offered since deregulation in the 1990s.As a result, banks have focused advertising dollars, redesigned branches, extended hours, improved service and even brought back old-fashioned product giveaways in hopes of persuading decidedly unwealthy customers to do something they almost never do: switch banks.
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