Banks are striving to reduce expenses but are continuing to invest in risk management, according to an Ernst & Young survey. The research indicates a cautious tone among bankers because the economic outlook remains uncertain. "The end of the recession and a return to profitability is a tough one for any industry to call," said Tom McGrath of Ernst & Young. "But financial services are naturally more cautious -- and possibly more realistic -- about when the return to profitability might happen." For more on risk management, visit the AICPA Financial Management Center.
Published in Brief: