(CNN Money, Nov. 21, 2011) NEW YORK — Customer defections over fees and other charges may not drive the nation’s biggest banks out of business, but some institutions could stand to lose a significant chunk of their deposits if they don’t work harder to make customers happy.…The nation’s 10 biggest banks could stand to lose as much as $185 billion in deposits in the next year due to customer defections, according to cg42, a Wilton, Conn.-based management consulting firm that has conducted research for several of the nation’s top banks.
The top 10 banks hold a total of $2.04 trillion retail deposits (deposits made by consumers and small businesses), according to data from cg42, which is based on each bank’s annual report.
