Weekly Global News Wrap Up: US banks close to breaking profit record; British banks to be required publish data every quarter

And find out how US regional banks are taking on Wall Street.

From Bloomberg: The last time big U.S. banks made so much money, the financial world was heading toward the brink of collapse. This time, it’s stiff regulation that’s in danger. Ten of the nation’s biggest lenders including JPMorgan Chase & Co. and Bank of America Corp. together made $30 billion last quarter, just a few hundred million short of the record in the second quarter of 2007, according to data compiled by Bloomberg. The achievement comes just as the industry’s long campaign against post-crisis rules finds traction with the Trump administration.

From Reuters: Banks in Britain will have to publish data every quarter from next year to show the quality of service they provide to customers to try to boost competition, the Financial Conduct Authority (FCA) proposed on Tuesday. Performance based on set criteria should be measured every three months from April 2018, and published on a bank's website within six weeks of the end of the quarter, the FCA said.

From Bloomberg: Atlanta and Cleveland are far from Wall Street, but regional banks in those and other U.S. cities are mimicking their bigger competitors by plunging into capital markets. SunTrust Banks Inc., KeyCorp and Citizens Financial Group are among large regional lenders that have been building out their investment-banking capabilities as stubbornly low interest rates have crimped profits. Now they’re reaping the benefit, reporting record fee income from the units in the first half of the year.