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August 30, 2013

Banks Report Record $42 Billion Profit in Second Quarter 
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U.S. banks reported a record net income of $42 billion between April and
June. At JPMorgan Chase, profits increased by 31 percent to $6.5 billion
in the second quarter. That means the bank made on average more than $70
million a day during that period. Meanwhile, CNN Money reports the
nation's five biggest banks are on track to pay out $127 billion in
total compensation, including at least $23 billion in bonuses, this
year.

 

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