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Banks earn record profits in 2016, but higher rates threaten some

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Happy days: American banksearned a record $171.3 billionin 2016, up 4.9% from a year earlier, while their combined return on equity rose to 9.32%, the highest since 2013, the Federal Deposit Insurance Corp. reported. Fourth-quarter earnings rose 7.7% to $43.7 billion.

Despite the good news, FDIC Chairman Martin Gruenberg said the agency was keeping an eye onhow banks might farein a higher interest rate environment. Although the common wisdom is that higher

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