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U.S. Banks Post Near-Record Profits

The Federal Reserve Bank of Chicago's entrance on LaSalle Street. (TonyTheTiger/Wikimedia Commons)
The Federal Reserve Bank of Chicago's entrance on LaSalle Street. (TonyTheTiger/Wikimedia Commons)

U.S. banks posted near-record profits during the second quarter of this year. New data from research firm SNL Financial, shows banks posted the second-highest level of net income in more than two decades.

This growth in profits is due, in part, to a surge in lending to both businesses and individuals.

The Financial Times’ Cardiff Garcia joins Here & Now’s Jeremy Hobson to discuss the forces behind the growth and whether average Americans will now be able to get more loans.

Guest

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