Tom Essaye says banks are in a good position to know how consumers are doing
Tom Essaye, founder of Sevens Report Research, said banks have a 360-degree view of most American consumers’ financial lives now.
Big banks remark on “resilience” of U.S. consumers
But what’s notable about this week’s earnings is what they say about consumers. Tom Essaye, founder of Sevens Report Research, said banks are in a good position to know how consumers are doing.
“They’re essentially financial supermarkets, and they really have a 360-degree view of most American consumers’ financial lives now, whether it’s through checking, loans, credit cards,” he said.
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