- Report: Students Should Beware of Campus Debit Cards
- Bank Fees Hit New Highs
- The Top-Rated Credit Cards in the US
- JPMorgan Chase, Other Big Banks Fall Prey to Hackers
- What Cable Mergers Might Mean for Your Television Service
- Wireless Carriers Duke It Out With Unlimited Data Plans
- Report: Big Banks Mislead Customers About Overdraft Protection
- 3 Odd Ways Regular People Make Money Advertising (And 2 for You to Try)
The FDIC quarterly report showed the industry earned $37.6 billion in the third quarter – up $2.3 billion, or 6.6 percent, from a year earlier.
That was the industry’s highest quarterly total since the third quarter of 2006, the FDIC said.
And while banks again reduced the amount of funds they set aside in case of losses, revenue growth contributed more to the earnings boost in the third quarter, bucking a recent trend, FDIC Chairman Martin Gruenberg said.
“Loan growth is becoming more established,” Gruenberg said. “Banks continue to clean up and strengthen their balance sheets.”
In good news for consumers, that also mean lending is picking up.