U.S. Banks Posted Record Profits in Second Quarter, FDIC Says
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U.S. lenders earned a record $43 billion in profits for the second quarter -- a 7.3 percent increase from a year ago, the Federal Deposit Insurance Corp. said Wednesday.
Higher revenue at more than two-thirds of banks and lower litigation costs pushed net income to a level that exceeded the previous mark set in 2013 by $2.6 billion, the agency said in its report on industrywide performance.