Banks are healthier now than during the Great Recession
Quarterly results show most big banks beating expectations. Plus, what would be the consequences of an undercount on the 2020 census? And, how Black-owned restaurants in North Texas are faring given the pandemic and social justice movement.
Susan Schmidt, head of U.S. equities with Aviva Investors, says banks are making progress toward growth thanks to people saving. “They’re being conservative right now,” she said. “And you see the deposits growing in the bank, that’s two legs of the stool that we need to see growth at banks. The next step would be loan growth. And hopefully we’ll start seeing that in the fourth quarter.”
For some, the surges in business helped weather challenges during the pandemic. But there are many Black-owned businesses that could close because of COVID-19.