Banks earned an awe-inspiring $171 billion-and-change in 2016, a new record.
It wasn’t all that long ago that we were hearing about bank bailouts, but now the industry is making tons of profits.
Good for them, you say? Don’t shrug, because it may be good for you, too.
“If banks are profitable, that helps shareholders and banking customers – both businesses and consumers alike – to get access to financial products, with loans at the top of the list,” says Mark Hamrick, Bankrate senior economic analyst.
If you earned as much as the banks, would you lend it? Spend it? Save it? Check out how far all that money could go.