Since the banking turmoil began, customers have been pulling their money from smaller, regional banks and putting their dollars into the bigger banks.
Driving the news:
JPMorgan Chase, Citigroup and Bank of America have all been warning their staff to not make the uncertainty — and stress — around banks worse,JPMorgan, the country's largest bank, told employees that they "should never give the appearance of exploiting a situation of stress or uncertainty," according to Reuters, which obtained extracts of the memo.
Similarly, Bank of America told employees that they shouldn't be trying to do business with customers from firms under stress, or do "anything to exacerbate the situation," as Reuters puts it.
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