“...major US banks including Wells Fargo and JPMorgan Chase reported their third quarter earnings. Increased revenue thanks to higher interest rates...”
These banks charge a least 8% interest on loans and then offer 0.0001 interest on customer savings accounts. Huge ripoff.
Loan sharks and racketeers are more honest than Wells Fargo and BOA. /spit
These banks are getted pressed by on-line banks such as American Express. Amex has 1% interest on checking balances (better than most), 4.3% in their high-yield savings account, no monthly fee charges, great customer support, etc. It makes for a tougher environment to compete.