US Regulator Accuses Lenders of Fiddling With Deposit Data After Banking Collapse Close Call

The US banking sector had a close brush with collapse earlier this year, with three commercial lenders going under after interest rate hikes by the Federal Reserve left many smaller banks on the brink of insolvency. Over the same period, banking giants including JPMorgan Chase netted a cool $49 billion in earnings by jacking up base lending rates.