$10.35
0.03 (+0.29%)
Fifth Third Bancorp (FITB)
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The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries.
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Payday lending was defeated in Ohio and many payday lenders will close their doors. This will allow the fees collected by banks to skyrocket. FifthThird bank is the largest regional bank with the most branches located in Ohio. When a simular law changed in Georga a few years ago the regional bank gained $1 Billion in increased fees from bounced checks. With 186000 jobs in Ohio check will be bounced because the payday money will not be available.