Abstract: JPMorgan Chase, Bank of America and Wells Fargo reported healthy quarterly profits. Citigroup said its ongoing restructuring would result in about 20,000 job cuts.
Lead Paragraph:
The nation’s largest banks are churning out profits as interest rates remain high, even though the lenders have had to set aside billions of dollars to replenish a deposit insurance fund that was heavily depleted by a crisis among midsize banks last spring.
Source: The New York Times
Category: Business
Sub Category:
2024-01-12T14:22:42+0000
By Emily Flitter and Stacy Cowley