What's the worst bank in America?
Although Wells Fargo has been making headlines recently about the company creating bogus accounts under customers names - it's apparently not the worst bank in America.
After sifting through more than five years of data on regulatory fines, hundreds of thousands of complaints filed with the Consumer Financial Protection Bureau and how those complaints were resolved, ValuePenguin.com, a consumer finance research site ranked the nation's 50 worst large banks.
The worst? Bank of America, which scored poorly in every category. Ranking third to last in regulatory penalties and 44th in consumer complaints.
Although number 2 worst bank Barclay's had more regulatory fines they fared much better in how they responded to complaints, where it ranked 2nd best overall.
Rounding out the top 5 worst banks were HSBC, EverBank and Wells Fargo only the fifth worst bank.
And what about the best banks?
See the most valuable banks in America:
According to the study, Frost Bank ranked number 1 followed by East West Bank in 2nd and Umpqua Holdings Corporation in 3rd.
ValuePenguin says you don't need to dump your bank if its made the worst-banks listing, but you should do your research.