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News of the Competition (08/13/2014)
  • WASHINGTON (8/13/14)--U.S. bank profits are soaring near record levels, with lending to businesses and individuals coming in at the fastest rate since before the housing collapse in 2008, The Wall Street Journal reported (Aug. 12). In the second quarter, banks recorded $40.24 billion in net income, the second-most lucrative profit total in nearly 25 years, according to data from SNL Financial. The most recent quarter's numbers arrive just under the record set in the first quarter of last year of $40.36 billion, according to The Wall Street Journal . This despite bank executives decrying recently that regulation has hampered business. According to The Wall Street Journal , some credit the fact that banks are putting less money aside to cover soured loans as one of the main reasons profits have swelled of late ...
     
  • WASHINGTON (8/13/14)-- The Office of the Comptroller of the Currency (OCC) issued a final rule that increases by 14.5% the OCC's semiannual assessment on national banks and federal savings associations that have more than $40 billion in assets . The effective increase for an individual bank will range from 0.32% to 14%, depending on its total assets. The final rule does not increase assessments for community banks. The rule applies to assessments due Sept. 30 ...


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