Big national banks dependent on loans will struggle because of the return on equity: Fmr. Barclays CEO
PayPal and Square have surged despite the sell-off in big banks. Bob Diamond, CEO of Atlas Merchant Capital and former CEO of Barclays, joins 'Closing Bell' to discuss whether national banks are overvalued. The financial markets really like this result, says Diamond. But the struggle for banks is really about the model. For the large, deposit-taking institutions in the U.S., the top five have over 50 percent of the deposits in this country, he adds. And with 0 percent interest rates, that's a challenging business.