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Why 2018 Is Shaping Up to Be a Good Year for Banks
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Why 2018 Is Shaping Up to Be a Good Year for Banks

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
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The U.S. banking industry is in an upbeat mood as it looks ahead in 2018, following a year of policy and regulatory uncertainty under the Trump administration, including an announced changing of the guard at the Federal Reserve. Overall, the banking and finance sector performed well in 2017 — stocks have appreciated in the last 12 months — but the sector also suffered setbacks with reports of misdeeds by companies like Wells Fargo , while others, such as UBS and Deutsche Bank, received waivers on restrictions imposed on them after they pled guilty to currency manipulation in the LIBOR scandal of a few years ago. In the year ahead, the banking sector will be bolstered by the fact that the Trump administration is favorably disposed towards Wall Street, and it will benefit from the latest tax reforms as U.S. corporations bring back profits held overseas.…

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