Customer Satisfaction With Retail Banks Falls

If outsized fees, long lines and poor problem resolution have left you even more dissatisfied with your bank this year, you're not alone.

An annual survey conducted by J.D. Power and Associates found that customer satisfaction with retail banks declined for the third year in a row. Dissatisfaction with fees is the most commonly reported problem, as well as the No. 2 reason why customers switch to another bank.

The poll also found more problems being reported, fewer problems being resolved, longer wait times and more difficulty in accessing branches.

Banks have exacerbated the problems by reducing staff and increasing fees to meet shareholder demands, says Rockwell Clancy, J.D. Power's executive director of financial services. Banks' negative image is only compounded by the shaky economy, as consumers often blame them for troubles in the housing and mortgage markets. ...