Deposits Surge at Big Banks During Coronavirus Pandemic

Following the great recession in 2008, there was widescale mistrust of the U.S. banking system because many believed it had played a major role in sparking the crisis in the first place. But more than a decade later, as the country finds itself in the midst of another potential crisis, that mistrust seems to have faded.

Recent data from the Federal Reserve shows that people put more deposits in American banks between Feb. 26 and March 18 than in any single month of 2019.

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Source Fool.com