Banking industry posts best quarter of profits since early 2007

The banking industry posted its best quarter of profits since early 2007 in the first three months of this year, but the sector is still far from regaining its footing. The earnings totaled $29 billion in the first quarter, up nearly 67 percent from a year earlier, mostly because the industry no longer needs to set aside as much cash to cover losses on loans, the Federal Deposit Insurance Corp....