Deposit growth at JPMorgan Chase & Co, the largest U.S. bank by assets, is slowi...
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files
Most big U.S. banks have been slow to raise the interest rates they pay customers on their savings and deposits, despite the U.S. Federal Reserve setting current rates at between 2.25% and 2.5%. Gordon Smith, co-president and chief operating officer for JPMorgan Chase, said that though customers are taking out money, and this is contributing to slowing in the bank’s deposit growth, most of those customers still keep Chase as their main bank.
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