Rising Risk: US Banks Face Deposit Flight Threat With Shrinking Profits

Moody’s, the credit ratings agency, recently issued a new cautionary message concerning the U.S. banking system.

What Happened: Moody’s shared in a note its decision to lower the ratings of 10 regional banks and that it is contemplating whether to downgrade several major lenders, including Bank of New York Mellon Corp (NYSE:BK), U.S. Bancorp (NYSE:USB), State Street Corp (NYSE:STT), Truist Financial Corp (NYSE:TFC), Cullen/Frost Bankers, Inc (NYSE:CFR) and Northern Trust Corp (NASDAQ:NTRS).