Cards & Payments Industry Digest

US: Banks finding it harder to turn a profit as economy struggles Net interest income for American banks saw a record-breaking fall of just over seven percent in the third quarter, according to new figures from the Federal Deposit Insurance Corporation (FDIC) in Washington, which characterised the new level as "unprecedented". The net interest margin too was lower than ever recorded by the agency before, falling by 68 basis points year on year to a new low of 2.68 percent. The Motley Fool spotlights the performance of one particular household name in its coverage, noting that "Bank of America ^BofA^ saw a more than eight percent... Read more >