Emily McCormick, vice president of research for Bank Director
In its 2020 investor day presentation, JPMorgan Chase & Co. outlined three headwinds facing its bank and by extension, the banking industry: a declining rate environment, pressuring net interest margins; slowing economic growth, both in the U.S. and globally; and the “raising specter” of the next credit cycle. Since the financial crisis, the U.S. economy has witnessed the longest period of economic expansion in its history. But what goes up must come down. Banks are already under pressure: The Federal Deposit Insurance Corp. reported in February that net income across the industry fell by 1.5% in 2019, compared to the...
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Emily McCormick is the vice president of research for Bank Director, an information resource for directors and officers of financial companies.You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn.