Morning roundup: Wall Street and Facebook

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

• Facebook Inc. tapped six major Wall Street banks to manage its initial public offering - including Bank of America Merrill Lynch - suggesting the social network is taking a conventional approach, the Wall Street Journal reports.
• There's plenty of buzz around Facebook's IPO, but wealthy investors aren't getting too excited, Bloomberg writes.
• The FDIC is making progress in regulating the country's biggest banks, the New York Times' Economix blog says.
• Bank of America lost about 75 percent of its market share in U.S. home mortgages since 2007, while Wells Fargo's presence almost doubled, according to Bloomberg Businessweek.
• Likely GOP presidential nominee Mitt Romney is pulling in big money from private equity professionals, Fortune reports.