Sep 18, 2012 09:29
A Sageworks roundup of recent banking industry news you might have missed: Half of Americans are confident in the U.S. banking industry; some banks are easing lending standards; FDIC’s survey on the “unbanked.”
Half of Americans confident in U.S. banking industry
A recent survey by Rasmussen found that 50 percent of American adults are at least somewhat confident in the stability of the U.S. banking industry. However, 14 percent said they are “not at all confident” in the stability, the survey conducted September 8-9 found. A similar survey in July found that 43 percent of respondents were at least somewhat confident in the industry’s stability. See Rasmussen’s brief report on the survey here.
Easing lending standards?
The Fed’s quarterly survey of senior loan officers found that while lending standards for smaller firms were little changed, some banks are easing their standards for loans to large and mid-sized firms. Banks, however, reported easing the terms on loans, regardless of the size of the firm. “Nearly all of the banks that eased lending standards or terms reported doing so because of more aggressive competition,” the Fed said. Read more about the survey here.
Who ISN’T using a bank?
The FDIC’s latest survey on the “unbanked” and “underbanked” finds that 1 in 12 households doesn’t use banks, while one in five was considered “underbanked,” which was defined as using a variety of non-bank services, such as check-cashing services or pawn shops, to handle financial transactions. Both figures are higher than they were in 2009. Not having a bank or using a bank account was previously considered a sign of economic distress, but more consumers are shunning banks out of irritation over fees or because they’re attracted by technology and services offered by some newer non-bank options, The Wall Street Journal said in an article outlining the survey’s findings. Read the FDIC survey here. Read the WSJ article here.