Riding the wave of mobile ads and new-user growth, Facebook posted $2 billion in quarterly profits. That’s a lot of new hoodies for Zuck – WSJ
The Times on the near inability of federal authorities to indict high-ranking bank officials over charges of fraud and other financial crimes – NYTimes
Lloyd’s Bank is cutting 3,000 jobs in yet another sign of Brexit fallout – NYTimes and Bloomberg
As expected the FOMC held steady on interest rates, but it also telegraphed a strong possibility of a coming 2016 rate hike based on an “upbeat assessment” of US economic conditions – NYTimes and WSJ and Bloomberg
A pair of whistleblowers is seeking discovery-related sanctions against Wells Fargo for allegedly concealing “crucial evidence” for their False Claims Act claims over fees added to government-backed mortgages – Law360
Here’s a much rosier take on the bond-yield curve [look outward!] – WSJ
The current state of Deutsche Bank: awfully troubled, but hanging on (if barely) – NYTimes and WSJ and Bloomberg
Getting rid of nagging DOJ-led RMBS litigation wouldn’t hurt (though it won’t help the bottom line at the moment) – Law360
Moet Hennessy Louis Vuitton was in the news recently for its rare move of divesting itself of a fashion brand. The Journal has some background for us on the luxury conglomerate’s surprising success in these uncertain times – WSJ
What do you know. A meme did some serious good in the world. ICE BUCKETS ALL AROUND – NYTimes