"Financial Reform" will be a boom for people in the payday loan business. There will be many new customers who need bank-like services. It's almost like Congress implemented a plan of "Reverse Robin Hood."
Big banks might win some of the regulation battles and figure out how to protect their fee revenue in the short-term, but they're losing the war for customers. Eventually, customer-attrition will force them to change or perish.
Data from the last 18 months show that the country's 7,600 credit unions are in fact outperforming big banks and rapidly expanding their market share. Since the start of 2009, credit unions have added more than 1.5 million new members.
Independent business groups that have been urging people to "buy local" are now making "bank local" an increasingly prominent part of their message, bringing new grassroots visibility to the Move Your Money movement.