Bank CEOs Voice Mounting Concerns Over Fintech Rivals, Regulations, Economy in Private Talks
• Bank CEOs privately aired concerns about competitive threats from fintech firms and private lenders • They complained about tough regulations, with UK and European regulators seen as particularly stringent • CEOs worried about challenging economic picture amid shifting rate policies and rising debt • They fear geopolitical tensions could derail expected interest rate cuts • UBS chair urged focus on unregulated "shadow" lenders as bigger risk than traditional banks