Which bank is least likely to go bust?
This is the theory that they're so crucial to the economy that collapse would cause major disaster. So the government is likely to step in and support them to avoid failure. In 2023, the U.S. banks considered "too big to fail" include Chase, Bank of America, Citigroup, and Wells Fargo.
| Bank | The Ascent's Rating |
|---|---|
| American Express® National Bank | 4.50 |
| Quontic | 4.50 |
| Capital One | 4.50 |
| Chase | 4.50 |
| Bank NameBank | CityCity | Closing DateClosing |
|---|---|---|
| Heartland Tri-State Bank | Elkhart | July 28, 2023 |
| First Republic Bank | San Francisco | May 1, 2023 |
| Signature Bank | New York | March 12, 2023 |
| Silicon Valley Bank | Santa Clara | March 10, 2023 |
| Bank | Forbes Advisor Rating | Learn More |
|---|---|---|
| Chase Bank | 5.0 | Learn More Read Our Full Review |
| Bank of America | 4.2 | |
| Wells Fargo Bank | 4.0 | Learn More Read Our Full Review |
| Citi® | 4.0 |
Companies Considered Too Big to Fail
The Bank of New York Mellon Corp. Citigroup Inc. The Goldman Sachs Group Inc. JPMorgan Chase & Co.
JPMorgan Chase is the richest bank in the U.S., based on Federal Reserve data for consolidated assets. It has over $3.3 trillion in total assets, more than any bank in the country. Total assets include everything a bank owns, from loans and investments to physical assets like buildings and equipment.
Following one of the most successful years in United's long history, United Bank has been named the Most Trustworthy Bank in America by Newsweek for 2023.
The most popular banks in the U.S. are regional banks like Truist Financial, TD Bank and First National of Omaha. The worst banks are Wells Fargo and Citibank. Wells Fargo is the worst bank overall, with a high percentage of unresolved complaints and loss of Better Business Bureau accreditation.
Your money is safe at Capital One
Capital One, N.A., is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency. The FDIC insures balances up to $250,000 held in various types of consumer and business deposit accounts.
Which banks are riskiest?
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
- JPMorgan Chase.
- Citigroup.
- Bank of America.
- Wells Fargo.
- BNY Mellon.
- Goldman Sachs.
- Morgan Stanley.
- State Street.
Global Finance Names The World's 50 Safest Banks 2023
Germany's KfW is #1 for the 15th year in a row. Singaporean banks put in a strong showing in the top 15 in 2023 with DBS Bank at #12, Oversea-Chinese Banking Corp at #13 and United Overseas Bank at #14.
- Wells Fargo. BBB customer review rating: 1.06/5. ...
- Credit One. BBB customer review rating: 1.11/5. ...
- Bank of America. BBB customer review rating: 1.06/5. ...
- Chase Bank. BBB customer review rating: 1.1 / 5. ...
- US Bank. BBB customer review rating: 1.1 / 5.
J.P. Morgan Chase is the number one bank in America in terms of total assets held, according to the Federal Reserve.
Based on the analysis of Bank of America's financial health, risk profile, and regulatory compliance, we can conclude that the bank is relatively safe from any trouble or collapse.
1. JPMorgan Chase & Co. Established in 1799, JPMorgan Chase & Co. is a global investment bank and financial services company that's based in New York.
However, because credit unions serve mostly individuals and small businesses (rather than large investors) and are known to take fewer risks, credit unions are generally viewed as safer than banks in the event of a collapse. Regardless, both types of financial institutions are equally protected.
Capital One is a subsidiary of Capital One Financial Corporation, a U.S.-based bank holding company headquartered in McLean, Virginia and founded in 1994. Capital One has been a subsidiary of Capital One Financial Corporation since it was established as a separate division of the company in 1994.
Wells Fargo, along with thousands of other financial institutions, is FDIC-insured. FDIC insurance limits cap at $250,000.
Which bank is more trustworthy?
| Company | Overall rating | Ethics |
|---|---|---|
| Schwab Bank | 86.5 | 86.9 |
| U.S. Bank | 76 | 76.5 |
| Chime | 75.7 | 76.6 |
USAA Federal Savings Bank (FSB) FSB is an FDIC-insured Federal savings bank depository institution subject to primary regulation and supervision examination by the Office of the Comptroller of the Currency (OCC).
2023 in Brief
There are 5 bank failures in 2023. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
Is Chase safe? Chase is regulated by the Financial Conduct Authority (FCA) and customer deposits of up to £85,000 (£170,000 for joint accounts) are protected under the Financial Services Compensation Scheme (FSCS). This means, if Chase went out of business, the FSCS would step in to cover up to this threshold.
Your money is safe in a bank with FDIC insurance. A bank account is typically the safest place for your cash, since banks can be insured by the Federal Deposit Insurance Corp. up to $250,000 per depositor, per insured institution, per ownership category.
