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Why banks are trying to make a business out of junk fees

Financial regulatory director says laws are not suggestions for banks.
Bank of America will give  $100 million back to customers that it wrongfully took in fees. The bank will also pay another $150 million in penalties.
Nicholas Kamm/AFP via Getty Images

Fourth-quarter reports show some big banks are saving for a recession

Jan 13, 2023
In the face of high inflation, rising interest rates and a slowing global economy, banks are setting aside reserves — just in case.
Bank of America told investors Friday that it generated a 2% profit bump last quarter. Many big banks have been squirreling away cash to prepare for an economic downturn.
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Why big banks are "canaries in the economic coal mine"

Jan 9, 2023
On Friday, Bank of America, Citigroup, Wells Fargo and JPMorgan Chase will post earning reports. Parts of their business struggled in the fourth quarter.
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As big banks lower overdraft fees, smaller banks mull their options

Jan 12, 2022
Community banks don’t have the same scale as national banks — but they still have to compete and find ways to make up the lost revenue.
Consumer advocates have been pressuring banks to eliminate overdraft fees during the pandemic.
Nicholas Kamm/AFP via Getty Images

More optimistic about the recovery, big banks trim the reserves they set aside to cover bad loans

Oct 14, 2020
But if we're in for a double-dip recession, they'll need to set aside billions more than they currently have on hand.
Big banks, like JPMorgan Chase, are feeling more confident about the economic recovery after solid third quarter earnings.
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Big companies are raising wages as competition heats up

Apr 9, 2019
Finding and retaining workers can be a challenge.
The competition for workers is getting fierce. 
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Bank earnings are way, waaay up. Here’s why.

Oct 16, 2018
Quarterly earnings reports out this week from the major banks including JPMorgan Chase, Goldman Sachs and Bank of America show very, very strong gains. Many companies are benefiting from the changed tax code, but banks are a special case. Click the audio player above to hear the full story. 

For public good, not for profit.

Bank earnings are way, waaay up. Here’s why.

Oct 16, 2018
Quarterly earnings reports out this week from the major banks including JPMorgan Chase, Goldman Sachs and Bank of America show very, very strong gains. Many companies are benefiting from the changed tax code, but banks are a special case. Click the audio player above to hear the full story. 
A flag flies outside the Bank of America Corporate Center June 30, 2005 in downtown Charlotte, North Carolina.
Davis Turner/Getty Images