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By Marissa Fajt
OCT 5, 2009 7:22pm ET

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Global Consumer Ends Deal with BB&T

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Global Consumer Acquisition Corp. of New York has terminated negotiations to buy the Nevada branches that BB&T Corp. picked up in the failure of Colonial Bank.

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What the Mortgage Settlement Means to Banks
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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover

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