Banks to report bumper profits as bad loans fall

Britain’s banking sector will attempt to dispel the clouds surrounding it and show that it isn’t only Royal Bank of Scotland that is benefiting from the economic recovery as the reporting season gets into full swing this week.

Bank of America to pay Fannie Mae and Freddie Mac

Bank of America agreed to pay $9.5bn (£5.7bn) to settle charges it misled US mortgage lenders Fannie Mae and Freddie Mac before the housing crisis in 2008.