(Reuters) - Profit rose 9 percent at Wells Fargo, but fell 4 percent at U.S. Bancorp, the fifth- and sixth-largest banks. Earnings rose 31 percent at Regions Financial Corp. and 8 percent at KeyCorp , two big regional banks.
Increasing loan losses, the housing downturn and a flat yield curve, where long- and short-term interest rates are about the same, are pushing banks to seek out more revenue from such areas as credit cards and deposit service charges. Lending margins narrowed at all four banks from the first quarter.
Read more at Reuters.com Business News
Increasing loan losses, the housing downturn and a flat yield curve, where long- and short-term interest rates are about the same, are pushing banks to seek out more revenue from such areas as credit cards and deposit service charges. Lending margins narrowed at all four banks from the first quarter.
Read more at Reuters.com Business News
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