Journal of Corporate Finance Vol. 60 2020
Small banks and consumer satisfaction
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 to 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.
- DOI
- 10.1016/j.jcorpfin.2019.101517
- Volume
- 60
- Pages
- 101517
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref