How did the Great Recession affect banks?

What were the main effects of the Great Recession on banks?

The Great Recession led to significant losses for banks, increased regulation, and a loss of public trust.

How did banks respond to the financial crisis?

Banks implemented stricter lending standards, reduced risk exposure, and sought government bailouts.

Did any banks fail during the Great Recession?

Yes, several banks failed, including Lehman Brothers, which was a major event in the financial crisis.

What regulations were introduced after the recession?

The Dodd-Frank Act was introduced to increase oversight and reduce risks in the banking sector.

How has the banking industry changed since the recession?

The banking industry has become more regulated, with a focus on risk management and consumer protection.