The last decade has witnessed an unprecedented number of mega-mergers in the banking industry: bank of America’s acquisitions of fleet bank, MBNA, and U.S. trust; bank of new York’s acquisition of Mellon financial; and wells Fargo’s acquisition of Wachovia, to name several of the largest consolidations.

Besides growth for its own sake, these super banks are able to offer one-stop shopping for financial services: everything from savings accounts to home mortgages, investment account, insurance vehicles, and financial planning.

Is a $300 billion national bank likely to be more efficient than a $30 billion regional bank or a $3 billion state-based bank?

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