The best US banks

There are thousands of banks in the United States. It is very difficult to determine which bank is better. Here is a list of the best

1. JP Morgan Chase $ 2 533 billion

2. Bank of America $ 2281 billion

3. Wells Fargo $ 1.951 billion

4. City Bank $ 1843 billion

5. Goldman Sachs $ 916 billion

6. Morgan Stanley $ 851 billion

7. US Bankcorp $ 461 billion

8. TD Bank $ 380 billion

9. HSBC $ 273 billion

10. American Express $ 181 billion

When considering where to put money in storage, the list of banking and credit unions seems endless. There are small local and regional financial institutions, which, of course, can entrust their hard-earned money, but for full service and far-reaching banking is dominated by the largest national banks. According to the Federal Reserve, these 10 financial institutions are the largest U.S. banks by assets. Below are our top 10 banks in America.

JPMorgan-Chase

The largest bank in the country and the sixth largest in the world, the Federal Reserve reports that JPMorgan-Chase as of the end of last year owned global assets of about 2 trillion. Dollars. This makes it number one on our list of the top 10 banks. The company was the result of a merger in 2000 of two much older banks – JP Morgan and Company and Chase Manhattan Corporation. While JP Morgan’s name is used for investment banking and private wealth management, the bank provides services to retail and commercial banks like Chase.

Nineteenth-century financial titan John Pierpont Morgan was the company’s namesake and was the founder of the original JP Morgan Bank, but early American politician and famous duelist Aaron Barr was one of the founders of Chase Manhattan. Morgan’s house generated $ 96.6 billion in revenue last year, despite controversy and legal problems due to alleged energy price fixing and negligence during the Bernard Madoff scandal, which resulted in billions in fines.

Bank of America

Having a Bank of America headquarters in Charlotte, North Carolina, alone makes this city one of the nation’s largest financial centers. Although it is not the largest bank, this company is actually the world’s largest wealth management firm, as it owns Merrill Lynch, a giant in the industry.

The Bank of America has about 50 million retail bank customers, but its start was quite modest. It started with a small institution that catered to immigrants in San Francisco in the early 1900s, which, oddly enough, was called the Bank of Italy. Bank of America briefly ventured into financing in China with the acquisition of a stake in China Construction Bank, which was then sold off.

The company has made efforts to have headquarters in Charlotte and New York environmentally friendly and LEED-certified, but since 2010 has been accused in a number of lawsuits of mortgage fraud.

Wells Fargo

Wales Fargo has long been associated with San Francisco, where it is still headquartered as it was formed to earn the Gold Rush by two northeastern states. In terms of one measure – market capitalization – Wells Fargo is the largest bank in the world, although for the past few years it has fought with the Chinese Industrial and Commercial Bank for the title.

Wells Fargo has the oldest permanent bank charter in the United States, which was originally granted to the First National Bank of Philadelphia. Wells Fargo annually pays the highest amount of corporate taxes of any American company, but it is accused of tax evasion.

City

A pioneer in both credit cards and automated banking, Citi Bank – formerly the city bank of New York – was considered the east coast equivalent to Wells Fargo in the 19th century, when both banks were exclusively regional. Citi was also the first U.S. bank to open a bank office in a foreign country, expanding to Argentina in 1914. Currently, only 26 percent of Citi branches are in the U.S., although they bring in 51% of the bank’s income.

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Top 10 US Banks

US Bank / US Bank

The current US Bancorp (which includes an American bank) is the result of a combination of large regional banks from the West and the Midwest. The company has $ 169 million in assets as well as $ 250 billion in deposits from 16 million customers. In 1913, banks were banned from using the “United States” in their names, and US Bancorp was one of the last firms allowed to do so, adding the word to its name the previous year.

PNC

The Pittsburgh-based PNC is primarily a regional financial institution that operates primarily on the East Coast but has offices in nineteen states as well as in Washington. PNC actually has two historical values ​​- the Pittsburgh National Corporation and the National Providence Corporation, both Pennsylvania banks that have teamed up to form the beginning of the current campaign. After that, they decided to use only the abbreviation due to the coincidence of names. PNC introduced early “virtual wallet” services among traditional banks and is known for its annual commodity price index from the Christmas song “Twelve Days of Christmas”.

Bank of New York Melon

The Bank of New York was founded in 1784 by none other than the first Secretary of the Treasury, Alexander Hamilton. Bank of New York Mellon is the direct successor to this firm after merging with T. Mellon and Sons, a Pittsburgh institution that funded the steel and fuel industries. This long history makes it the oldest banking corporation in the country. It has 27.9 trillion. Dollars are assets that are under guardianship, so it is the world’s largest depository bank that serves other financial institutions.

State Street

State Street in Boston originated as a shipping company. He continues to run a similar-minded business, focusing on global banking and investment management for foreign institutional investors. State Street was involved in a landmark lawsuit in 1998 that found that a computer algorithm could be patented in the United States.

Capital

Capital One is primarily a retail banking operation, which in addition to inspections and savings services provides mainly credit cards, car loans and home loans. Originally a net credit card company, Capital One has seriously expanded into banking. In early 2014, Capital One was criticized for changing the terms of use of customers to allow the bank to contact customers in any way it chose, including deliberately deceiving them with fake subscriber IDs.

TD Bank

The final institution on our list of the top 10 banks doesn’t actually have headquarters in the US; Bank Toronto-Dominion is quite naturally based in Toronto, Ontario, Canada. TD Bank’s customers are more than 22 million people worldwide, mostly in the US and Canada. TD has branches in fairly remote locations, including northwestern Canada and the Yukon.

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