Published on Aug 16, 2017
According to one expert there will soon be a rash of major bank mergers, buckle up. Aida Rodriguez, Joe Sanberg and Steve Oh discuss on Our America. Learn more about Aspiration Bank here: https://www.aspiration.com/tyt?utm_source=tyt
Read more here: https://www.cnbc.com/2017/07/14/let-t…
“American banks are swimming in excess funds. They do not know what to do with this money so they are giving it away in the form of stock buybacks and dividends. At the same, time the irony is that the banks are just starting to report mediocre to disappointing second quarter earnings. So, on one hand, the resources necessary to support meaningful growth are being given away.
On the other hand, the need to use this money to stimulate growth has never been greater. Initial earnings reports for the second quarter suggest that the banks are not obtaining the hoped for margin increases and it is tougher to locate new loans.
The absurdity of this situation is not going to persist. The door to intra-industry acquisitions may be about to crack open. The first inkling of merger mania was seen recently when JPMorgan Chase was reported to be considering buying a payment systems company Worldpay Group in Great Britain.”*