Signs of trouble in consumer lending, renewed pressure to shrink staff and a slump in trading are rapidly becoming the big themes as U.S. banks post quarterly results.
On the second day of the industry's earnings season, Bank of America Corp. and Wells Fargo & Co. posted figures that tracked some of the key trends from earlier reports by JPMorgan Chase & Co. and Citigroup Inc.
Every member of that group is preparing for the possibility that more people might struggle to pay their debts. And at Wells Fargo, a long-running probe related to mortgages had an impact, prompting the firm to book a $1 billion legal charge that made it the only lender among the four to miss analysts' profit estimates.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
