Fdic | featured news

American Express and Wal-Mart announced Tuesday that their prepaid debit card accounts will now be backed by the Federal Deposit Insurance Corp., making them one of the last major providers to sign on to the government backstop. Read full article >>

Here’s something that may (or may not) surprise about you about banks: They’re raking in profits like it’s 2007. It's not such a rosy environment for banks once you cut a little deeper into the numbers. The latest data from the FDIC show banks taking in net income of $34.5 billion in the second quarter of 2012, that’s up $5.9 billion from from the second quarter of 2011.

The U.S. banking industry posted a $35.3-billion profit in the first quarter of the year, its best performance since 2007, the Federal Deposit Insurance Corp. said Thursday.

Bank earnings rose over the summer to their highest level in more than four years, while the number of troubled banks fell for the second straight quarter, federal regulators reported Tuesday.

Banks would be barred from trading for their own profit instead of their clients under a rule being proposed by federal regulators.

The Federal Deposit Insurance Corp. must face a $10 billion lawsuit over the toxic remnants of Washington Mutual Bank, a federal judge ruled.

Regulators closed Public Savings Bank of Huntingdon Valley, Pa., on Thursday, boosting to 65 the number of U.S. bank failures this year.

The FDIC said two banks failed, McIntosh State Bank in Georgia and First Commercial Bank of Tampa Bay in Florida, to bring the tally of closures so far this year to 47.

The FDIC is close to settling a lawsuit that accused former Washington Mutual executives of taking gambles that sparked the thrift's 2008 collapse.

A senior banking regulator urged Congress to raise the federal debt ceiling to prevent a "calamitous" government debt default.