FDIC Reports Banks Show Another Record Profit
The FDIC reported banks had strong quarterly profits of $37.3 billion, up 9.5% from the same time last year.
CUNA wasted no time in issuing a statement lambasting the bankers. "The latest profit report from the FDIC for banks and thrifts is merely more evidence that bankers' carping about the credit unions is just more hot air," said CUNA CEO Dan Mica. "How could credit unions possibly be having any impact on this industry-except standing in the way of even more earnings?"