Photo: Flickr / StarsApart
It’s not easy being a bank these days. Nearly 5.6 million people fled their banks last year as institutions like Bank of America came under fire for mortgage fraud and annoying (and often unnecessary) fees.
Desperate to keep their customers happy and overhead costs low, many banks have started downsizing and moving into supermarkets, reports SmartMoney’s Charles Passy.
The branches also may help consumers with limited banking options in rural areas, and offer disgruntled customers the opportunity to log more facetime with customer service—a way to boost customers’ perceptions of the bank in the long-run.