Trump’s Wall St. plan problem: Banks more profitable than ever

Source: Renae Merle, Washington Post (Paid Registration)

The banking industry has cheered President Trump’s promise to roll back regulations put in place after the financial crisis to rein in Wall Street. But the industry’s record-setting profits complicate the arguments for rolling back those rules, which banking analysts have said could boost their profits even more.

The country’s nearly 6,000 banks — from large players like Bank of America to small community banks — pulled in more than $171 billion in profits last year, according to the Federal Deposit Insurance Corp. That is up nearly 5 percent from 2015 and even surpasses the levels reached before the financial crisis when banks were profiting from a hot housing market.

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