Tuesday, November 8, 2011

Morning roundup: Walmart benefiting from bank backlash

Here's a look at what's news in banking and finance this morning:

  • A surprising business that's benefiting from the outrage against big banks? Walmart. Its financial products are gaining popularity, the New York Times reports.

  • Bloomberg has a preliminary list of what "capital surcharges" international regulators will impose on the world's biggest banks, meaning capital percentage points they will need above minimum requirements. Bank of America is not in the top rung.

  • U.S. Sen. Dick Durbin, D-Ill., says he's ready to "battle" the big banks, according to The State Column.

  • Bank errors are causing people to face higher mortgage rates than expected, The Motley Fool says.

What do you think about Walmart benefiting from the backlash against banks?