: U.S. bank earned $42.2 billion in the April-June quarter, the highest ever for a quarter. About 54 percent of U.S. banks reported improved earnings from a year earlier.
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.