Wednesday, October 19, 2011

Morning roundup: earnings, fees and competition

Each day, we'll provide a quick look at the buzz - from around the Internet - on the banking industry and Charlotte's major players.

Plenty of news outlets this morning are still dissecting Bank of America Corp.'s $5.9 billion third-quarter profit, muddled by one-time gains, as well as its fall to No. 2 U.S. bank by assets. Investors, at least, appear to be on board, with the bank's stock climbing in early trading.

Here's what a few others are reporting:

-- The Wall Street Journal examines the pain rippling through the financial sector, citing investment-banking titan Goldman Sachs Group Inc.'s quarterly loss and BofA's slip from the nation's largest bank.

-- The Journal's Deal Journal blog provides a colorful look at BofA's deposits, assets, branches and market cap compared to its top competitors.

-- The Associated Press declares higher bank fees are "here to stay," with the latest earnings confirming banks are being forced to make money the old-fashioned way: lending to consumers and businesses.

-- Reuters reports that talks between states and top banks over mortgage abuses are nearing a settlement, with a deal possible by the end of the month.

 -- MSN Money's Michael Brush makes a case for Occupy Wall Street.