FDIC: Banking sector still faces "tremendous challenges"

05/28/2009 | Wall Street Journal, The · Financial Times (free content)

The Federal Deposit Insurance Corp. said first-quarter profit at the more than 8,000 banks it insures fell 61% from $19.3 billion a year earlier. Meanwhile, the FDIC listed 305 "problem" banks on March 31, up from 252 three months earlier. "The first-quarter results are telling us that the banking industry still faces tremendous challenges," FDIC Chairwoman Sheila Bair said.

View Full Article in:

Wall Street Journal, The · Financial Times (free content)

Published in Brief: