August 23, 2018

Brown Statement On Bank Profits Breaking Quarterly Records

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement on the Federal Deposit Insurance Corporation (FDIC) Quarterly Banking Profile. FDIC insured institutions reported $60.2 billion in the second quarter of 2018, smashing previous quarterly records.

“While Wall Street is taking another victory lap with record profits, workers’ real hourly wages have declined in the last year. The Administration and Congress should be focused on policies that will help working families, not propping up special interests who seem to be the only beneficiaries of the tax giveaway and Dodd-Frank rollback bill.”