One of the arguments for big banks is that their size allows them to scale and be more efficient. Unfortunately, it looks like what they become more efficient at is extracting money from their customers.
Here is the most disturbing quote for me.
But rather than allow the evidence in favor of smaller banks to guide policy, Congress decided to get rid of the evidence. At the urging of then Fed chairman Alan Greenspan, Congress ordered the Federal Reserve to stop publishing its annual report on bank fees.