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U.S. Bank Revenue Way Down September 5. 2008
U.S. bank revenue has dropped by over $31 billion dollars for the April-June 2008 period. That's a pretty bad decline in revenues. Mortgage late payments and foreclosures are also at a 30 year high. FDIC: 117 troubled banks, highest level since 2003 The FDIC also said that federally-insured banks and savings institutions earned $5 billion in the April-June period, down from $36.8 billion a year earlier. The roughly 8,500 banks and thrifts also set aside a record $50.2 billion to cover losses from soured mortgages and other loans in the second quarter. |
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