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Where Do Switchers Go?

According to a study from Accenture, consumers who break up with their banks are increasingly taking their accounts to online-only banks and non-bank institutions. Of the consumers who left their bank in the past year, nearly seven in 10 went to an online-only bank, and about one in five went to a payments provider like PayPal. Just 6% joined a credit union. Source: Accenture This isn’t good news for credit...