RBC's Gerard Cassidy talks buying weakness in bank stocks

Summary

RBC analyst Gerard Cassidy tells CNBC's Fast Money that the recent weakness in bank stocks is a buying opportunity because the proposed credit-card rate cap is unlikely to advance and the deregulatory backdrop remains intact. He points to a steepening yield curve, accelerating loan growth, benign credit, and a healthy economy as positive drivers for lenders. He also discusses US Bancorp, saying its operating leverage has turned positive and could improve the stock if sustained.

• Bank earnings season is set to kick off.
• A proposed 10% credit-card rate cap pressured financials.
• Gerard Cassidy calls the proposal political and unlikely to become law or regulation.
• He says bank weakness is a buying opportunity and deregulation remains a tailwind.
• He cites a steeper yield curve and 5-6% loan growth as positive for net interest income.
• He sees US Bancorp's operating leverage improving after expense-growth issues.
• Panelists debate whether everything going right for banks is itself a risk.