Americans are missing out on billions of dollars in interest, and they don't seem to care
Big banks still pay next to nothing on savings, but their customers aren’t yet moving much money to higher-yielding alternatives
The five biggest U.S. banks collectively hold about half of all money kept at U.S. commercial banks in savings and money-market accounts.Americans are missing out on billions of dollars in interest by keeping their savings at the biggest U.S. banks., just before a near failure of the financial system plunged the American economy into recession. Yet the biggest commercial banks are still paying peanuts to savers.
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