Banks play a significant role in the US economy. The wealth created by banks strengthens the country's purchasing power, which leads to a more stable economy. Billions of dollars are paid annually in taxes by the banking sector. It also plays an important role in the economy as an employer - in 2013, more than 1.2 million people worked in the 20 largest US banks, of which 228,000 people were employed by JP Morgan Chase & Co. alone. https://www.confiduss.com/en/info/blog/article/biggest-usa-banks/