"Banking Industry Declares 2023 as Peak Year with $250 Billion Interest Haul"

Major banks such as Wells Fargo, Citigroup, and JPMorgan Chase are anticipating a decline in their net interest income (NII) for 2024, signaling the end of the record run for this significant revenue source. Wells Fargo predicts a 9% slide in NII, while Citigroup forecasts a modest decline, and JPMorgan Chase expects its 2024 haul to drop off over the year. This outlook is attributed to uncertainty around interest rate hikes and caution related to consumer health, despite assertions of the banking system's resilience.