The 50 banks listed on page 5 of this week’s Jumbo Rate News each have two things in common: 1) They were established prior to 1883 (and are therefore at least 140 years old); and 2) They have each earned a 5-Star…
Non-Housing Debt Up $24 Billion in Q1’23
Credit card balances generally drop during the first quarter as consumers pay down what they spent during the holidays. But not this year. According to The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit, credit…
Bank Account Service Fees: What’s Too Much?
Last week we provided you with a list of the biggest U.S. banks (those with assets exceeding $50 billion). You would expect that those big banks are raking in piles of money in fees. They do, but it’s not what…
When a Cap is not a Cap
The rule is that no single bank should have more than 10% of total industry deposits unless it grows organically. The exception to this 10% cap is when a failure is involved. So it was that history repeated itself, and…
Bank Employee Gains Not Sustainable
The banking industry hired 55,000 full-time equivalent (FTE) employees in calendar 2022. That was a rather surprising 2.66% increase over the year, after what had been a rather stagnant hiring decade. The 10 year employment growth, even after the 2.66%…