Four big banks (JPMorgan Chase, Citigroup, PNC, Wells Fargo) reported earnings today, all beating expectations, especially JPMorgan, which posted its best quarter ever. That wind in the banks’ sails comes in the form of higher interest rate levels after three straight rate hikes by the Federal Reserve. That means banks get to charge you more for the products they sell. One thing they aren’t doing is paying out more on good old-fashioned deposits. That tenth of a percent interest rate you earn on your checking or savings account is basically peanuts. So what does that mean for our cash when the banks don’t seem to want it?

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