Since the start of the recession, consumers and businesses have progressively lost confidence in the U.S. banking industry. A nationally representative survey of 1,155 consumers fielded in February 2009 by Raddon Financial Group (RFG), found a lack of consumer interest in banking with the Big Four (Bank of America, Chase, Citibank and Wells Fargo). Twelve percent of respondents said they were "not very likely" or "not at all likely" to remain customers. For institutions competing against the Big Four, 12 percent represents seven million households that may be looking for a new institution.

Furthermore, JD Power & Associates 2009 Retail Banking Satisfaction Study found that only 35 percent of customers were highly committed to their retail bank in 2009. For competing institutions, that means 65 percent of customers were not.

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