The Great Bank Robbery of 2023 continues: The country’s four largest banks just announced they are making $64 billion from a scheme in which they charge considerably more to loan out money thanks to higher interest rates, while still paying customers paltry interest on the financial deposits they’re using to make these loans.

This spread — known as net interest income — has always been one of the key ways that banks make money: They collect deposits, pay some interest to depositors, and then offer loans at higher interest rates, which helps them both pay for services and generate some profits.

However, thanks to the Federal Reserve repeatedly raising interest rates, the difference between what banks are charging customers for loans and what they are paying depositors has reached historic levels