September 25, 2003

Bigger Banks = Fewer Services

I just got back from Bank of America, where they say that they no longer notarize documents! The CSR used some lame excuse about 9/11, saying that they could be liable if they notorized a document! Now, that's a load of crap. I was able to get my document notarized at a local bank...

The Federal Reserve recently issued a report (PDF) on availability of services, saying that larger banks charge more fees and that services are declining:

"Of the fourteen fees for which comparisons are available...multistate banks charged significantly higher fees in eight cases and in no case charged a significantly lower fee...Of the twenty-four measures that may be considered indicators of service availability, six changed a statistically significant amount, and five of these were in the direction of less service availability."