Where Does All the Banks’ Money Go?
The banks are bringing in big money: “Wall Street is rolling into the new year firing on all cylinders, after the nation’s biggest banks had one of the strongest years on record in 2025.” (Read it here.)
- The “six biggest banks brought in some $593 billion in revenue in 2025, up 6% and better than any prior year.”
So, what are they doing with all that money?
Are they using it to provide better services for their customers? If so, why do people on the right (including the President) and on the left (including Senator Warren) need to keep calling out the banks for debanking people (for political and other reasons)?
- You would think, for example, with JPMorgan Chase bringing in $182.4 billion in 2025, they wouldn’t give customers such a hard time, right?
Maybe the money is going into giant stock buybacks — a total of $500 billion for JPMorgan Chase, Bank of America, Citigroup and Wells Fargo over 10 years. The story notes:
- Returns on some of those buybacks “eclipsed what the banks could have earned from traditional lending.”
So, banks may be focusing on buybacks rather than traditional banking or lending services (and, if that’s the case, what is their argument for why they should have a monopoly on people’s money and not allow things like yield on stablecoins? ☹ ).
With all that — and a record $187 billion in swipe fees in 2024 — can anyone explain why Visa is increasing swipe fees again starting January 24? That, of course, means even more money for the big banks.
It seems that everywhere you look there is more evidence of what the President calls the “out of control Swipe Fee ripoff”
COMPETITION IS BETTER FOR EVERYONE
IT'S TIME TO PASS THE CREDIT CARD COMPETITION ACT