[legion]

KC,

That bolsters my theory that most "mega-banks" are still running the legacy back-end systems of the dozens of banks they have acquired over the years. I saw some evidence of this when I tried to close my dad's checking account with BofA. It also tells me that their IT infrastructure is overcomplicated and operating in a diseconomy of scale. I further assume that back-end systems have not been consolidated because of the significant one-time costs (despite the huge potential for reoccuring savings), and because they will just acquire another bank next year and have to do it all over again...