Bank customers’ growing disdain with big institutions reached a climax this weekend that was simultaneously symbolic and tangible. “Bank Transfer Day” and “Move Your Money Day,” both falling on Nov. 5, sent accounts flying from the rosters of Wall Street giants into the open arms of smaller regional banks and not-for-profit credit unions.
But on a day that was supposed to leave big banks groaning from pain, the Wall Street firms’ collective response couldn’t be heard above the “ka-chings” of “Main Street” money drawers.
Mostly because that response was a surprisingly indifferent shrug — and maybe even a slight smirk. Read