Thursday, August 29, 2013 2:22 pm
News Summary: US banks earn record $42.2B in Q2
By The Associated Press
LOWER LOSSES: Losses from bad loans tumbled 30.7 percent from a year earlier to $14.2 billion, the lowest in six years.
INTEREST RATE CONCERN: A recent spike in interest rates could have a mixed impact on banks. High rates make it more expensive for banks to borrow. But they also enable banks to charge more for loans.