Here's a quick look at a few of the headlines making news this morning.
Bank of America OKs $2.43 billion settlement
Bank of America
Bank of America denies the plaintiffs' allegations that it made false or misleading statements about the financial health of Bank of America and Merrill Lynch and is entering the settlement to "eliminate the uncertainties, burden and expense of further protracted litigation," B of A said. The settlement needs to be approved by the court before it goes ahead.
Consumer spending growth outpaces income growth
Personal income grew 0.1% in August but spending increased 0.5%, according to figures released today by the Bureau of Economic Analysis. This follows a 0.4% increase in spending in July, no increase in June, and a 0.2% decrease in May. Real disposable income decreased 0.3% in August, compared to a 0.1% increase in July. Real personal consumption expenditures increased 0.1% in August.
Cook apologizes for Maps problems