Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, recently told CNBC: “You could see some banks either fail or at least, you know, dip below their minimum capital requirements” this year. This comes after years of branch closings, bank collapses, customer service issues and the freezing of clients’ accounts. The financial markets landscape and the overall U.S. economy is also under duress, which also does not bode well for the banking industry. One would think the banks in danger of shutting down are insolvent or close to it, but that’s not the case according to a report from the Klaus Consulting group (referred to in the CNBC article listed below). High interest rates also have not been helping.
What’s next for these banks in the Danger Zone and what about their customers? Swiss America CEO Dean Heskin and Chris Agalestos break down what’s happening and the potential on The Secret War on Cash
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Artcles referred to in this podcast:
https://watcher.guru/news/282-u-s-banks-remain-at-risk-of-closure
https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html
