U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They’re helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.
The threat of a massive cyber-attack on 30 of the largest U.S. banks has been confirmed by a recent report issued by the McAfee network security firm.
Wells Fargo posted record earnings in the third quarter as the bank increased mortgage lending and pocketed more fees.
A draft settlement between the banks and U.S. states has been sent to state officials for review.