Morning Scan: Preventing the Next Housing Crisis; Santander Targeted...

Wall Street Journal

It's hard out there for a U.S. bank, the Journal reports. Plunging mortgage revenue and lower trading activity propelled a 7.6% decline in banks' year-over-year first-quarter profits, according to newly released data from the Federal Deposit Insurance Corp. Year-over-year profits had only fallen once in the past 19 quarters, according to the FDIC. The declines in revenue make layoffs and other cost-cutting measures more likely in the months to follow. The paper's "Heard...