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The country’s five largest banking institutions have tripled their market share since 1970 while more than half of all small banks disappeared. In 1970, the five biggest banks held just 17 percent of the market. 12,500 small banks held 46 percent. Fast forward to 2010 and the five biggest institutions held 52 percent of the market. The number of small banks had dwindled to 5,700, and their share was down to 16 percent.
We have a special interactive infographic today that offers more facts and figures. Click on the image above to take it out for a spin. Before you do, see if you can name the country’s five biggest banks. The answer, as identified in 2011 by the Comptroller of the Currency, is in the infographic.
Happy with the state of consumer banking today in the U.S.? Would you change anything? Jump into today’s discussion below.