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Nope there is competition so Citi can’t just increase interest rates across the board and add a bunch of new fees. The shareholders will take most of the loss.
by mrgordon 9y ago
Nope there is competition so Citi can’t just increase interest rates across the board and add a bunch of new fees. The shareholders will take most of the loss.
If Citi tries to increase prices, Amex and Chase will laugh and scoop up their customers. Very few people are “stuck” with Citi
- conanbatt 9y agoIf all the banks have the same regulation, then there is no elasticity. Taxes that affect every supplier the same typically fall on the consumer.