Small banks and consumer satisfaction
Journal of Corporate Finance, 2020, vol. 60, issue C
This paper examines the impact of the composition of local banking markets on customer satisfaction. I measure customer satisfaction at the county level using complaint data filed with the Consumer Financial Protection Bureau (CFPB) from 2012 to 2017. I find that there are fewer customer complaints in counties where there is a larger presence of small banks, holding constant the level of bank competition. This effect holds for various complaint types, market types, market demographics, and alternative econometric specifications. Additionally, I provide a detailed description of the CFPB complaint data.
Keywords: Consumer satisfaction; CFPB; Bank regulation; Small banks (search for similar items in EconPapers)
JEL-codes: G20 G21 G23 G28 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:corfin:v:60:y:2020:i:c:s0929119918307466
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