Economic events over the past year have shaken consumer confidence to its core. In the financial services industry, even the calmest and most level-headed consumers have been rattled by the month-to-month parade of bad news.
This recession–and its effect on the consumer psyche–is very different than any downturn we've seen in the past half-century, presenting interesting challenges for financial institutions seeking to benefit from the inevitable "flight to quality."
At issue is just how consumers will determine which financial services providers truly represent "quality," as events of the past year have really complicated that judgment call. Consumers see a market littered with the carcasses of once mighty financial giants, including:
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