- Two men face charges in Cape prostitution sting (5/28/17)
- Former coroner convicted of felony theft now faces prison in misdemeanor case (5/23/17)2
- Police: Woman arrested after meth found hidden in pants (5/26/17)2
- Woman may lose foot after being hit by moped (5/24/17)
- Illinois Trail of Tears site where Cherokee buried named to National Historic Register (5/24/17)
- Business notebook: Woman, sister-in-law buy Perryville custom-wear shop (5/22/17)
- Police apprehend Charleston man they say hit Cape woman with car (5/24/17)
- Rabies confirmed in Cape County after person bitten by bat (5/26/17)
- Man with prior sex convictions charged with abuse of a child 10 years ago (5/25/17)2
- New features at Cape Splash geared for kids; revenue has exceeded costs by more than $200K (5/24/17)1
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.