Bankers launch campaign to restore saving ethic

April 16, 2007

Fifth Third Bank, National City and other banks have started an advertising campaign to convince people to save more money.

Not only do banks have to work harder to build deposits, which in turn are redeployed as loans, but the nation now spends more than it saves, according to The Journal Gazette of Fort Wayne.

“Right off the bat, that math doesn’t work,” said Carl George, chairman of the National CPA Financial Literacy Commission. “We’re in crisis mode.”

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