- Police: Cape man kidnapped woman, then raped, assaulted her (06/30/16)7
- Many Jackson students may face random drug-testing (06/26/16)41
- Jackson man accused of felony assault after attack at Cape bar (06/26/16)7
- Four men accused of roles in three robberies (06/29/16)3
- Coroner asks for grand jury in Poplar Bluff fatal hit-and-run case (06/28/16)1
- Southeast president to get his U.S. citizenship July 4 (06/30/16)34
- Cape murderer still will serve 2 life sentences; appeals court forced reduced charge (06/30/16)
- Cape detective who helped solve Krajcir case is retiring (06/28/16)8
- Officials: Ash borer less of a problem here than in St. Louis (06/27/16)
- Business notebook: Melting Co. adds to Cape's food-truck fleet (06/27/16)
U.S. banking has presented an interesting dynamic in recent years. For a while it appeared as if most banks were being swallowed up by a handful of national banking giants competing for deposits, controlling major credit cards, making most consumer and housing loans, providing venture capital and bankrolling businesses.
Any of the hundreds of branches of these megabanks look the same and provide the same services, no matter where you are. For many bank customers who move more often than they pay taxes and measure on-the-job longevity in months rather than years, the big banks are just the ticket.
But the big-bank flurry of acquisitions and consolidations prompted another trend: small, locally owned banks. In Cape Girardeau alone there nine such banks, all competing for a piece of their share of checking and savings accounts, car loans and mortgages.
Small banks are used to competition -- but on a scale that puts most such institutions on fairly equal financial footing. Now the banking dynamic may be about to change again. Retail giant Wal-Mart plans to offer banking services to its customers, including those who currently have no bank accounts and want to deposit their checks or have access to debit or credit cards.
Some banks are worried about the Wal-Mart move, but others say the competition will be fine -- as long as everyone is required to play by the same rules. That's what state and federal banking regulators are for.