U.S. banking profits hit record $60 billion in second quarter: FDIC

The U.S. banking sector reported a record $60.2 billion in profits in the second quarter, up 25.1 percent from the same period one year ago. The Federal Deposit Insurance Corporation reported on Thursday that a little more than half of those gains resulted from a lower effective tax rate. The other half of the gains came from higher net interest income, it said. Only 3.8 percent of banks reported net losses, while more than 70 percent reported year-over-year growth.

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This election year will have a significant impact on long-term indirect tax rules, rates, and risks. More immediately, federal, state, and local tax policymaking, fiscal conditions, and technological disruptions will muddle the short-term indirect tax environment in the United States. This white paper will cover the important tr


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Spotlight

This election year will have a significant impact on long-term indirect tax rules, rates, and risks. More immediately, federal, state, and local tax policymaking, fiscal conditions, and technological disruptions will muddle the short-term indirect tax environment in the United States. This white paper will cover the important tr

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