The Huge Four

In March there were 1,812 commercial banks in the United States holding consolidated assets of $300 million or more. Of those 1,812 banks, just four banks (JPMorgan Chase, Bank of America, Wells Fargo and Citigroup’s Citibank) held 45 percent of the consolidated assets of those 1,812 banks. A recent FDIC report shows there are 5,606 insured banks in total holding $17.531 trillion in assets. Four banks - JPMorgan Chase, Bank of America, Wells Fargo and Citigroup’s Citibank - hold 40.42 percent of the assets of all the insured banks in the country.