Reported 8 months ago
Recent challenges for banks include settlements, adapting payments for crypto, and overcoming skepticism after bank failures. However, a strong federal jobs report in June 2024 increased industry confidence, with the market reacting positively. Investors are shifting focus to bank earnings due to low loan charge-offs and positive economic indicators, as GDP shows growth and the Fed hints at potential rate cuts. Meanwhile, Mastercard aims to simplify crypto transactions to broaden its appeal, while Comerica settles a fraud suit pertaining to their Direct Express program.
Source: YAHOO