‘Too Big to Fail’ Bank Review Finds Wells Fargo Now No. 2
This is a thestreet.com article.
The big keep getting bigger. According to data from the Federal Deposit Insurance Corporation, Wells Fargo (WFC) has become the second largest of the “too big to fail” banks we all worried about before the Great Recession.
The FDIC’s Quarterly Banking Profile for the first quarter of 2016 found total assets in the banking system grew by 2% in the first quarter to $16.29 trillion led by an increase of 3.2% for the money center banks including Wells, Bank of America (BAC) , Citigroup (C) and JPMorgan Chase (JPM) . These banks control $6.87 trillion in assets, a worrisome 42.2% of the total assets.
PiggyBankBlog Bailiff: “All rise! The honorable Congresswoman Marcy Kaptur has entered the Courtroom of Public Opinion!”