While reading the paper over the weekend, I noticed a top ten list published that highlighted the top ten most trusted brand names in America. The list included: Ford, Starbucks, Nordstrom, Nike, Apple, Amazon, Ford, Coca Cola, Southwest Airlines, Target & Fed Ex. For the most part, I can understand or agree with the list. That is, with the exception of Southwest Airlines. I have flown on Southwest Airlines 5 times in my life and the plane has been over an hour late twice, the flight has been cancelled once and the other time was a miserable flight home from Las Vegas with no air conditioning on the plane. Needless to say, I'll continue to avoid them regardless of their top ten placement.
But back to my point and that is: of the top ten businesses highlighted on the list we have a number of service, technology or retail businesses, travel, transportation and even the hospitality or food industry. There are businesses from all over the spectrum, except for the one area that makes it all possible and that is: the banking industry. We all put our money in, keep it there, invest it, rely on these institutions for their assistance and yet not one of the big four made the cut in spite of all of their technological advances. So why did they not make the grade? Well, that is the easy part. Essentially, there is a laundry list a block and a half long filled with complaints over dishonest, unethical and other greedy, unsavory business practices that find their way to light.
Not to sound like 99%'er, but really, the banking industry has gotten out of hand with their fees and their business practices. If Progressive Insurance is known for the "Discount Button", the banking industry is known for "pay up" button, wherein you ask for something and immediately get drilled with a charge. Almost like the old cartoon I mean just to refinance an apartment building requires paperwork after redundant, I've already told you this and signed a form and yet you ask me to do it two or three times over-paperwork. Enough is enough. I don't blame Wall Street or Financial Institutions for people trying to live above their means and suffering the consequences through foreclosure, but I blame Wall Street for ruining the reputation of the finance industry in America by simply ignoring and abandoning what it is to provide quality customer service and solutions to those who need it the most: their customers.
Let's hope that on the next top 10 list, a financial institution can make the grade.