By:
Emily McCormick, vice president of editorial & 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 Vice President of Editorial & Research for Bank Director. Emily oversees the research projects, including Bank Director’s annual surveys on M&A, risk, compensation and governance & technology. You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn. You can contact Emily at emccormick@bankdirector.com.