Moody's has downgraded the credit ratings of three U.S. banks – Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. Bank of America and Wells Fargo had their long-term credit ratings downgraded. Citigroup's long-term rating was upheld, but Moody's cut its short-term rating. The overarching reason for the downgrades? "The probability of government support for the banks is less now than during the financial crisis," said David Fanger, senior vice president at Moody's, told The Associated Press. Since the financial crisis, Congress has passed the Dodd-Frank Act and other reforms to give the U.S. government the ability to unwind giant banks instead of propping them up, CNNMonedy reports.