Banks are vital institutions in any society as they significantly contribute to the development of an economy through facilitation of business. The bank is the most important financial intermediary in the economy as it connects surplus and deficit economic agents.
The biggest U.S. lenders are snapping back after the financial crisis that occurred almost ten years ago. Since nearly killing themselves with greed and shady practices, they have had to endure subpar economic growth, historically low interest rates and a stiff regulatory environment.
Banks in the U.S. are regulated by the federal and state governments. Since the enactment of the Federal Deposit Insurance Corporation Improvement Act of 1989, all commercial banks that accept deposits are required to obtain FDIC insurance and also have a primary federal regulator.
Despite the criticism that certain banks were too-big-to-fail, the six largest U.S. banks now control almost 70 percent of the assets in the U.S. financial system. The growth and increased concentration reflects the impact of forced consolidation as well as the new capital and liquidity regulations that favor larger banks.
The total assets of the ten largest U.S. banks totaled more than $11 trillion.
Banking stocks have recently rallied on expectations that U.S. President Donald Trump will relax or remove regulations imposed on the banking sector in the wake of the 2008 financial crisis. The combined profits for the three biggest U.S. banks in 2016 were $65 billion, up 2 percent from 2015, and are expected to grow further this year.
CLICK HERE for a list of the top ten U.S. banks by total assets.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.