Executive Summary: The Q3/2026 J.S. Held Lending Climate in America survey finds US lenders are becoming increasingly cautious as geopolitical instability, recession concerns and broader economic uncertainty intensify. Survey respondents reported weaker expectations for both near-term and long-term economic performance, continued selectivity in underwriting larger loans and heightened focus on risk management. At the same time, borrowers continue to pursue growth initiatives, including product development, capital investment, market expansion and hiring, creating a lending environment characterized by both opportunity and increased discipline.   Global consulting...