The Top 10 Banks in America

The Top 10 Banks in America

The consolidation of banks in the U.S. has been a trend over the past 35 years. In fact, in 1985, there were 14,427  banks that were insured by the Federal Deposit Insurance Corporation (FDIC). However, in 2018, there were only 4,718. Meanwhile, the number of branches has jumped from 43,790 to 78,014. On one hand, fewer banks mean less competition, which is bad for consumers. But on the other hand, big banks have lower costs, which they can pass on to their customers. In addition, no matter where you live, you can open an online account with a big bank. Below is an overview of the 10 largest banks in the U.S., according to the number of assets they hold.

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