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CU System
Complaints about banks climb says Better Biz Bureau
WASHINGTON (4/13/10)--Complaints about banks are on a sharp rise, according to the Better Business Bureau (BBB), and one publication warns that they could lose business to credit unions. Banks rank third in the most recent list of top U.S. consumer complaints, behind cell phone providers and cable TV companies (Yahoo Finance April 1). Banks saw a 43.2% increase in complaints since 2008--up to 29,920 complaints, according to BBB data. “One reason why big banks may have trouble with customer service is that some of them have bitten off more than they can chew,” said the online publication. “With industry takeovers of major lenders like Washington Mutual and Wachovia, banks have more customers and fewer resources to accommodate their needs. “If that’s the case, larger banks better beef up their customer service efforts fast--before customers decide that the credit union down the street will treat them, and their money, with greater care,” the publication concluded. To read the article, use the link.
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