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The Scan for Wednesday, July 20

07/20/11

Breaking News This Morning ... PNC, USB and M&T: "PNC Financial Services Group Inc., U.S. Bancorp and M&T Bank Corp. notched solid second-quarter profit gains as the three regional lenders continued to see marked declines in the funds reserved to cover potentially bad loans." (Journal) Receiving Wide Coverage ... 2Q Earnings: Despite the tepid economy, several big commercial banks sounded hopeful notes about business loan growth, the Journal reports. "KeyCorp went as far as to call the period...

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The Scan for Tuesday, July 19

07/19/11

Receiving Wide Coverage ... B of A Posts a Loss: Bank of America reported a loss of $8.8 billion during the second quarter partly due to the $8.5 billion settlement with investors in June who claimed the bank had sold them poor-quality mortgage-backed bonds. The reported loss to shareholders was 90 cents per common share, according to the Post. CEO Brian Moynihan said, "the solid performance in our underlying businesses continues to be clouded by the...

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