Canada crows about the health of its banks.
And for good reason; recent earnings reports coming out of large U.S. banks are disappointing and show they’re still working through the negative effects of bad lending decisions during the runaway housing boom of the early 2000s.
Read: Canadian banks are safe
And, more than four years after the 2008 meltdown, these large institutions continue to suffer from internal problems, as well as some fallout from capital requirements imposed by Basel III and restrictions to sideline business imposed by the Volker Rule.
Read more on why the big U.S. banks are “a mess”.