A worrisome banking situation arises in the United States. In a matter of seven days, three banks have failed. The latest victim is City National Bank of New Jersey located in Newark. The past few years have not been easy for traditional banks. Their costs often outweigh profits, forcing them to make tough decisions. Those who simply cannot improve or innovate will ultimately meet their demise. A Rough Patch for Smaller US Banks In the US, three different banks have been shut down in the past week. A very worrisome trend, albeit none of them are “big” institutions by any

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