This is the week that the big banks begin to release their earnings for the third quarter of the year.
Although profits will show relatively well, there seems to be an undercurrent in expected earnings that point to the future of the banking industry.
We read in the Financial Times that
“The largest U.S. banks report earnings this week under pressure to rein in ballooning costs, with Wall Street Lenders being squeezed by rising pay and heaving spending on technology to compete with fintech challenges.”
