Ally, Synchrony, Discover, Sallie Mae and Navient are the other lenders the ratings firm downgraded, citing the impact that the coronavirus crisis is having on their revenues and profits.
The post-crisis swing in the regulatory pendulum changed Wall Street forever, but it's not clear how much life changed for the umpires of credit, despite a few regulatory tweaks.
Critics of Dodd-Frank argue that post-crisis regulations put a damper on lending. But loan growth at regional and community banks has "actually been very strong," says Joo-Yung Lee, head of North American financial institutions at Fitch Ratings.
