Reference is made to the factors that have most affected the above industry’s performance but also to the factors that would continue to influence the particular industry in the future. The research developed in regard to the specific subject has led to the assumption that the USA banking industry has been highly supported, as of its establishment and further growth, by politicians and analysts. however, the relevant plans have often failed to meet the criteria set by their initiators. The need for radical changes on the sector’s strategic choices is clear. certain trends, as for example, the need for hiring stars for improving organizational performance, have been eliminated. In any case, problems related to the specific organizational sector, should be resolved by continuously updating the strategies of the industry’s firms, as appropriate, so that their goals are continuously aligned with the market rules and ethics.
The development of banking industry in USA has been gradual. In fact, in USA banks have always been a key factor for economic growth (Coulbeck 1984). The establishment of the USA banking industry has been related to the Glass-Steagall Act of 1933, which has emphasized on the categorization of the sectors of ‘the financial services industry, as following: commercial banking, investment banking and insurance’ (Koch and Scott 2009, p.2). Other legislative texts that followed, especially ‘the Bank Holding Company Act of 1956’ (Koch and Scott 2009, p.2), set the rules on which the activities of banks across USA should be based.
The literature indicates that the establishment of bank branches across the country has been related to certain geographic criteria. In the study of Coulbeck (1984), emphasis is given on the following fact: in USA, banking activities have been always quite developed. in 1940 the banks operating across USA were estimated to 5,144 while in 1980 the above number has been decreased to 4,425 (Coulbeck