Here’s a chicken-or-egg question: Do Philadelphia banks suck because they’re banks, or because they’re in Philadelphia? Philadelphia Business Journal offers some insight:
Five of the 10 banks with the most complaints per billion dollars of deposits have operations in Philadelphia. Sovereign Bank was second with 9.1 percent complaints per billion dollars of deposits,Citizens Bank was fourth (6.1), TD Bankwas tied for sixth (4.8) and First Niagara Bank and PNC Bank were tied for eighth (4.3).
Half the Top 10, though, didn’t have operations in Philadelphia. Which means: Philadelphia banks suck because they’re banks.