Moody's Investors Service has raised its outlook for the U.S. banking industry for the first time in five years, citing the improving economy and banks' stronger balance sheets.
The New Jersey Department of Banking and Insurance is praising the banking community for helping to pursue ways to accelerate the release of insurance proceeds to Garden State homeowners affected by Superstorm Sandy.
U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.
Nine of the largest U.S. banks have submitted plans to the federal regulators that show how they would break up and sell off their assets if they are in danger of failing.