We fell short of our Fall Fundraiser goal of 2,500 donations. Help us catch up ⏩ Give Now

With a soft landing for the economy in sight, big banks are doing well

Jul 15, 2024
A strong stock market and a vibrant economy that never fell into recession have boosted earnings at financial institutions.
Once investors accepted that a recession isn't on the horizon, big banks have thrived.
jetcityimage/iStock Editorial/Getty Images Plus

Paperless billing is costing the paper industry. But storeless shopping helps.

Nov 3, 2023
Revenue for the U.S. paper mill industry has declined in recent years. E-commerce, though, has stirred a boom in cardboard packaging.
A box of paper from fictional company Dunder Mifflin, made famous in "The Office."
Donald Bowers/Getty Images for Quill.com

Big banks post big profits

Oct 13, 2023
The classic way banks make money rests on three words: net interest income.
Big banks JPMorgan Chase, Wells Fargo and Citigroup told investors they netted a combined $22 billion this past quarter.
Justin Sullivan/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.
Brandon Bell/Getty Images

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.
Michael M. Santiago/Getty Images

What are your options after sending money by accident? It depends.

A recent court case involving Citi brought the issue of accidental payments into the spotlight.
While there are legal protections for consumers around accidental payments and fraud, banks have a spotty record of following them, says Carla Sanchez-Adams of the National Consumer Law Center.
Courtesy Steven Byeon

Some big Wall Street banks reverse their back-to-office plans — again

Jan 3, 2022
They've been among the most aggressive employers when it comes to bringing workers back into face-to-face contact.
Despite investment banking companies' preference for in-person work, omicron has complicated the return-to-office plans of JPMorgan, Citigroup and Goldman Sachs.
Johannes Aisele/AFP via Getty Images

For public good, not for profit.

No noon meetings: Citigroup tries to address burnout

Oct 20, 2021
Along with protecting the lunch hour, the bank also suggested meetings should be no more than 45 minutes.
Bloomberg reports that Citigroup told staff to reduce meeting times and avoid lunchtime meetings.
Mario Tama via Getty Images
Physical bank branches are good for building relationships with customers whom the bank hopes will buy more services over time.
Andrew Caballero-Reynolds/AFP via Getty Images

Big banks' profits are doing better than the economy

Jan 15, 2021
They've been raking in money thanks to the strong stock market, companies' appetite for debt and initial public offerings.
Spencer Platt/Getty Images