Chart of the Day: Vanishing Banks
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There used to be a bank on every corner; however, today’s Chart of the Day from BlackRock shows a 71% decline in US banks since 1980. Why? Large banks are able to spread the cost of increasing regulations, and this barrier makes it harder to start new, smaller banks.
Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.
Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.