At the nadir of the financial crisis, many pundits, executives, and analysts thought this day would never come. Today, after staring down systemic collapse, the banking industry is healing.
The FDIC's problem-bank watchlist is shrinking, profits are back, and signs of growth can be seen increasingly from quarter to quarter. Many banks can justifiably take a moment to sigh in relief.
For the largest banks, though, there are still challenges to be overcome. Large banks such as Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), and Citigroup (NYSE:C), along with the systemically important banks such as Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM), still face unique challenges unique that smaller competitors don't. In the following video, Fool contributor Jay Jenkins discusses with Erin Miller the state of the industry and the challenges still ahead for the largest banks.
Erin Miller and Fool contributor Jay Jenkins have no position in any stocks mentioned. The Motley Fool recommends Bank of America, Goldman Sachs, and Wells Fargo and owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.