Small Banks and Consumer Satisfaction

46 Pages Posted: 21 Nov 2018 Last revised: 14 Nov 2019

See all articles by John Sedunov

John Sedunov

Villanova University - Department of Finance

Date Written: May 2019

Abstract

This paper examines the impact of the composition of local banking markets on customer satisfaction. I measure customer satisfaction at the county level using complaint data filed with the Consumer Financial Protection Bureau (CFPB) from 2012-2017. I find that there are fewer customer complaints in counties where there is a larger presence of small banks, holding constant the level of bank competition. This effect holds for various complaint types, market types, market demographics, and alternative econometric specifications. Additionally, I provide a detailed description of the CFPB complaint data.

Keywords: Consumer Satisfaction, CFPB, Bank Regulation, Small Banks

JEL Classification: G20, G21, G23, G28

Suggested Citation

Sedunov, John, Small Banks and Consumer Satisfaction (May 2019). Journal of Corporate Finance, Vol. 60, 2020, Available at SSRN: https://ssrn.com/abstract=3274803 or http://dx.doi.org/10.2139/ssrn.3274803

John Sedunov (Contact Author)

Villanova University - Department of Finance ( email )

800 Lancaster Ave.
Villanova, PA 19085
United States
610-519-4374 (Phone)

HOME PAGE: http://homepage.villanova.edu/john.sedunov/

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