Banking oligopoly

Just 3 ‘superbanks’ now dominate industry


Several of the nation's biggest banks have failed or been absorbed by healthier institutions, leaving three giant "superbanks" with an unprecedented concentration of market power: Bank of America, JPMorgan Chase and Wells Fargo.

Comment: My own bank strategy: Have a primary bank and an Internet bank. A good Internet bank is IngDirect. I love the work "oligopoly", by the way! Just say it aloud about 5 times ... a fun word to say!

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