U.S. Bancorp

Big banks held up well in 2023, even though the Federal Reserve continued to raise interest rates at a fast clip. Reports on fourth-quarter bank earnings, which start this week, should show how the banks’ customers fared in the harsher rate environment.  So far, households have continued to spend and borrow, despite higher borrowing costs, and businesses have hired at a healthy pace. The biggest banks have reaped the rewards. JPMorgan, Wells Fargo and Bank of Americaturned in strong profit growth for the first three…

Big banks are teaming up to launch a digital wallet that people can use to shop online. Wells Fargo WFC -1.29% & Co., Bank of America Corp. BAC 0.73% , JPMorgan Chase JPM 0.86% & Co. and four other banks are working on a new product that will allow shoppers to pay at merchants’ online checkout with a wallet that will be…

Some of America’s biggest banks are devising a plan to compensate customers who fall victim to scams on their Zelle payment network.  JPMorgan Chase JPM -1.72% & Co., Wells Fargo WFC -0.93% & Co. and Bank of America Corp. BAC -1.87% are among the banks in advanced discussions to create a playbook for refunding customers and each other for illegitimate…