Bank Profits Are Being Squeezed
U.S. banks are expanding into new areas to compensate for shrinking loan businesses, caps on credit-card charges and overdraft fees, and a ban on trades with their own money. Citigroup , for one, plans to hire 7,500 people in China over the next three years, double the number of private bankers in North America to almost 260, and recruit 100 commodities traders. At many banks, expenses are …
Read more on BusinessWeek via Yahoo! News
Leave a Reply