Major U.S. banks have cautioned in their second-quarter results that lower-income customers are experiencing financial strain just months ahead of the presidential election. JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc (NYSE:C), Wells Fargo & Co (NYSE:WFC), and Bank Of New York Mellon Corporation (BNY) (NYSE:BK) highlighted concerns over reduced savings and increased costs among consumers, reported The Financial Times. Government stimulus programs during the COVID-19 pandemic initially shielded Americans from inflation, but as households have depleted these funds, the state of consumer finan…