Treasury Secretary Yellen says she wouldn’t be surprised to see more bank consolidation – By Emma Kinery (CNBC) / June 7, 2023
- It’s likely for some smaller banks to consolidate, Treasury Secretary Janet Yellen said Wednesday morning
- Yellen also said she expects there to “be issues” in the commercial real estate sector given the changing approach to work.
WASHINGTON — Given the overall environment in the industry, it’s likely for some smaller banks to consolidate, Treasury Secretary Janet Yellen said Wednesday morning.
“There is motivation to see some consolidation and it wouldn’t surprise me to see some of that going forward,” Yellen said in an interview on CNBC’s “Squawk Box.”
Yellen said she wouldn’t want to see the diverse banking system threatened by further consolidation, but it would be understandable given the pressure on earnings some banks are experiencing.
CONTINUE > https://www.cnbc.com/2023/06/07/treasury-secretary-yellen-says-more-bank-consolidation-likely.html
