The banking landscape in the United States is characterized by a mix of stability and change. The top 10 largest banks, including JPMorgan Chase, Bank of America, and Citigroup, hold significant assets and play crucial roles in the financial system.
These institutions are operating in a constantly changing regulatory landscape shaped by the results of the 2024 elections, which could result in deregulatory actions . The main regulatory areas of concern include governance, risk management, and compliance, with a special emphasis on non-financial risks like cybersecurity and operational resilience.
Read: List of Banks and Credit Union in Canada
| Rank | Bank | Total Assets |
|---|---|---|
| 1 | JPMorgan Chase | $3.58 trillion |
| 2 | Bank of America | $2.56 trillion |
| 3 | Citigroup | $1.73 trillion |
| 4 | Wells Fargo | $1.69 trillion |
| 5 | U.S. Bancorp | $670 billion |
| 6 | Goldman Sachs | $564.3 billion |
| 7 | PNC Financial Services | $559.7 billion |
| 8 | Truist | $515.2 billion |
| 9 | Capital One Financial | $483.8 billion |
| 10 | TD Group US Holdings | $399.8 billion |
The interest rates for savings accounts in the United States have seen a decline in 2025, influenced by the Federal Reserve’s rate cuts in 2024. The average savings account rate is 0.41%, while high-yield savings accounts offer rates as high as 4.30% APY.
Despite the downward trend, these rates still outpace inflation and provide better returns compared to traditional savings accounts at major banks, which typically offer much lower rates. Experts predict that savings account yields will continue to decrease throughout the year, potentially ending around 3.8% APY
The regulatory landscape for banks in the United States in 2025 is shaped by evolving supervisory priorities and potential deregulatory efforts. Key areas of focus include BSA/AML/OFAC compliance, consumer protection, and fair lending practices.
The Federal Reserve has announced pricing changes for payment services, with an average 2.8% price increase for established services. Additionally, the implementation of ISO 20022 for the Fedwire Funds Service is scheduled for March 10, 2025, aiming to enhance efficiency for domestic and cross-border transactions
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Regulation of banks in united states
The regulation of banks in the United States has evolved significantly since the 2008 financial crisis, primarily due to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. This legislation introduced stricter capital requirements, enhanced prudential standards, and established new regulatory bodies such as the Financial Stability Oversight Council and the Consumer Financial Protection Bureau.
The Act aimed to improve accountability and transparency in the financial system, end “too big to fail” institutions, protect consumers from abusive practices, and prevent future taxpayer-funded bailouts
In 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act was passed, which eased some of the regulatory burdens imposed by Dodd-Frank. This included raising the threshold for regulatory documentation obligations from $50 million to $250 million. Despite these adjustments, the overall regulatory landscape for U.S. banks remains more stringent than it was before the crisis, with a greater focus on systemic risk management and consumer protection.
| Year | Legislation | Key Changes |
|---|---|---|
| 2010 | Dodd-Frank Act | Stricter capital requirements, new regulatory bodies |
| 2018 | Economic Growth, Regulatory Relief, and Consumer Protection Act | Eased regulations for smaller banks |
The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) play crucial roles in regulating banks in the United States. The Federal Reserve is responsible for supervising and regulating banks to ensure the safety and soundness of the banking system, developing regulatory policies, and monitoring trends in the banking sector.
The FDIC provides deposit insurance to protect depositors and maintain public confidence in the banking system, examines and supervises certain financial institutions for safety and soundness, and manages receiverships of failed banks.
As of 2025, the U.S. banking industry faces a dynamic regulatory landscape shaped by a new administration and evolving supervisory priorities. While there may be some deregulatory efforts, banks are still expected to prioritize governance, risk management, and compliance to address outstanding supervisory issues and demonstrate sustainable remediation.
Key focus areas include navigating an uncertain regulatory environment, evolving supervisory focus on issue remediation, financial resilience, and non-financial risks and internal controls.
Read: List of Banks and Credit Union in Australia
List of banks in united states
The United States has a diverse banking sector with a mix of major banks, regional banks, and international banks. Here are some of the notable banks in the United States:
Major Banks (Big Four):
- JPMorgan Chase: One of the largest banks in the U.S., offering a wide range of financial services.
- Bank of America: Provides banking, investment, and insurance services.
- Citigroup: Offers banking and financial services across the U.S. and internationally.
- Wells Fargo: Provides banking and financial services to individuals and businesses.
Other Notable Banks:
- Goldman Sachs
- Morgan Stanley
- U.S. Bancorp
- PNC Financial Services
- TD Bank
- Truist Financial
- Capital One
- Charles Schwab Corporation
- The Bank of New York Mellon
- State Street Corporation
- HSBC Bank USA
- American Express
- USAA
- First Citizens BancShares
- Citizens Financial Group
- Fifth Third Bank
- M&T Bank
- UBS
- Huntington Bancshares
- Ally Financial
- Barclays
- KeyCorp
- Ameriprise
- Santander Bank
- Regions Financial Corporation
- Northern Trust
- Discover Financial
- Synchrony Financial
- Deutsche Bank
- New York Community Bank
- Mizuho Financial Group
- Raymond James Financial
For a comprehensive list of all banks operating in the United States, you can check out Wikipedia page or the Bank Branch Locator page.
Credit Unions in the United States
Credit unions in the United States are non-profit cooperatives owned by their members, which allows them to offer lower fees and better interest rates compared to traditional banks. They operate under the principle of ‘one member, one vote’ and are regulated by the National Credit Union Administration (NCUA). Membership is typically based on a common bond among members, such as living in the same area or belonging to a specific organization.
The largest credit union in the United States is Navy Federal Credit Union, boasting over $180 billion in assets and 14 million members. Other prominent credit unions include State Employees’ Credit Union (SECU), Pentagon Federal Credit Union (PenFed), SchoolsFirst Federal Credit Union, and Boeing Employees Credit Union (BECU). These institutions are known for their competitive rates, low fees, and extensive ATM networks.
Read: How to register for NAB online banking and Mobile App
| Credit Union | Assets (in billions) | Members |
|---|---|---|
| Navy Federal Credit Union | $180 | 14 million |
| State Employees’ Credit Union (SECU) | N/A | N/A |
| Pentagon Federal Credit Union (PenFed) | N/A | N/A |
| SchoolsFirst Federal Credit Union | N/A | N/A |
| Boeing Employees Credit Union (BECU) | N/A | N/A |
Membership requirements for credit unions in the United States are based on a defined ‘field of membership,’ which can include living or working in a specific geographic area, being employed by a particular company, or belonging to a certain organization. Some credit unions have broader membership requirements, while others are more restrictive. To join, individuals typically need to complete a membership application, pay a small fee if required, and maintain at least one share in the credit union.
Quorum Federal Credit Union was named the Best Credit Union of 2025 by Bankrate, recognized for its competitive Annual Percentage Yields (APYs) and free checking accounts. This highlights the importance of evaluating credit unions based on their financial strength, member services, and overall performance. Rankings can vary depending on the criteria used by different evaluators, but Quorum’s recognition underscores its excellence in these areas.
List of Credit Unions in the United States:
The United States has a wide variety of credit unions that offer financial services to their members. Here are some notable credit unions in the United States:
- Navy Federal Credit Union
- State Employees’ Credit Union
- Pentagon Federal Credit Union (PenFed)
- Boeing Employees Credit Union (BECU)
- SchoolsFirst Federal Credit Union
- Alliant Credit Union
- America First Credit Union
- Golden 1 Credit Union
- Suncoast Credit Union
- Security Service Federal Credit Union
- First Technology Federal Credit Union
- San Diego County Credit Union
- VyStar Credit Union
- Redstone Federal Credit Union
- Randolph-Brooks Federal Credit Union (RBFCU)
For a comprehensive list and additional details, you can check out the Wikipedia page.
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