With the most recent round of 2021 stimulus, the government distributed checks and direct deposits totaling $242 billion to roughly 90 million people around the country. Couple that with tax returns also coming in to bank accounts – that’s a lot of deposits. So, what does all this mean for financial institutions?
In this edition of 3-Minute Banker, Senior Director Dustin Allen explores what US deposit portfolios look like right now and what he projects them to look like in the future. It’s no secret that banks have got more deposits than they’ve ever had before but how can we expect that to change this upcoming summer and fall? Is there in fact an end in sight? Click below to find out what Dustin thinks!