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Why do people hate bankers: simple, banking isn't easy and the literature is too complex. While not about normal everyday banking, there has been much research
by coreymgilmore 12y ago
Why do people hate bankers: simple, banking isn't easy and the literature is too complex.
While not about normal everyday banking, there has been much research into financial statements of public companies and the readability of these reports [1]. Basically, how can most people understand banking/financials when the general readability of the documents has gotten to a point where even an MBA does not understand parts of them? Now, go into any local bank branch and the documents they have for consumers is just as vague, difficult to understand, and "transparently" informative.
As for simple. Banks have gotten better at this with mobile apps. But branches still neglect simple customer demands: stay open beyond normal working hours (9am-5pm), allow easy payments via ACH/Wire, and reduce the complexity of the loan process to name a few.
[1] http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1868591 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1868591