Toggle light / dark theme

U.S. banks are ‘swimming in money’ as deposits increase

It’s the banking world’s version of the rich getting richer.

A record $2 trillion surge in cash hit the deposit accounts of U.S. banks since the coronavirus first struck the U.S. in January, according to FDIC data.

The wall of money flowing into banks has no precedent in history: in April alone, deposits grew by $865 billion, more than the previous record for an entire year.

Leave a Comment

If you are already a member, you can use this form to update your payment info.

Lifeboat Foundation respects your privacy! Your email address will not be published.