From Optirate, “Banks have the misfortune to be confronting the discounters just when marketplace and legal changes are drying up some of their traditional revenue sources, like packaging sub-prime mortgages and gouging people with overdraft fees. An economist at a bank regulatory agency (who asks for anonymity) estimates that $25 billion a year of bank-fee revenue is evaporating. That’s a lot for an industry that netted a pretax $104 billion last year.”

Hmmm… might be a partial explanation for the continuous attack on micro-lenders and the payday loan industry by banks and credit unions? Who do you think helps to fund our critics? It certainly isn’t our customers!

Read the article at Optirate in its entirety. Need for bank branches? Delivery of funds to smart devices? Lot’s of ideas to process…