The future of the banking industry

How should consumers be positioning themselves after what has happened on in the sector?

From an economic perspective, it’s been a big week.

In Switzerland, Credit Suisse is set to borrow billions of dollars from the federal government as it stares down the very real barrel of self-destruction.

The announcement on Thursday is the latest effort to restore the bank’s tarnished image following a raft of scandals in recent years.

In the U.S. you can wave goodbye to the once-respected Silicon Valley Bank, which shut its doors after facing a tidal wave of deposit withdrawal requests.

Meanwhile, crypto-focused lenders Signature Bank and Silvergate Capital are also both gone.

So what is the future of the banking industry and how should consumers ride this uncertain wave?