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What could amplify the slowdown is more restrictive bank lending

The Spanish banking giant is doubling down on its U.S. operations, unlike other foreign-owned banks that have abandoned efforts to reach American consumers. It's doing so partly by better integrating its large auto lending business with its retail bank.

While Goldman Sachs is still pushing to make its expansion into consumer lending profitable, the bank is also weighing strategic alternatives, CEO David Solomon says. The dueling options reflect the problems that Wall Street giant faces in Main Street banking.

“Sometimes we fall short. Sometimes we don’t execute,” Goldman’s boss David Solomon told investors at the company’s New York headquarters.

The Federal Reserve wants to see how banks are preparing for climate change. But critics have questioned whether its plan will yield much information.