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US bank profits fall as competition for deposits erodes lending margins

By Inquirer - 10 months ago
NEW YORK   -Several large U.S. regional banks reported lower profits on Wednesday, in a further sign that the income boost from interest rate hikes by the Federal Reserve is starting to wane. Charles Schwab, Citizens Financial and US Bancorp said that, along with one-off charges, the rising cost of retaining customer deposits ate into fourth-quarter

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