The Federal Deposit Insurance Corporation just released its quarterly report on the financial health of US banks, and it found that profits fell for the first time since the recession—by 1.1%. But weep not for the banking industry. Even with lower mortgage revenue and huge legal costs, it still made $152.7 billion last year, its second-best year ever.
By Melvin Backman
Published Last updated This article is more than 2 years old.