Lawmakers criticize CEOs of big banks for failing to raise interest rates on savings

Lawmakers criticize CEOs of big banks for failing to raise interest rates on savings

Congressional lawmakers this week criticized US bankers for failing to raise interest rates on savings accounts held by everyday consumers despite a series of major Federal Reserve rate hikes on federal funds. The Fed’s raising interest rates makes it more expensive for banks and other financial institutions to borrow money from each other, and this … Read more