In other financial news, protests are continuing in Chicago outside the American Bankers Association convention. Sheila Bair, the chair of the Federal Deposit Insurance Corporation, spoke to both the protesters and bankers on Monday. At a rally before thousands of activists, Bair voiced support for the creation of a Consumer Financial Protection Agency.

Sheila Bair: “By regulating the non-bank shadow sector for the first time, this new agency can help prevent future abuses. I hope we see other measures taken that will create a more resilient, transparent and better regulated financial system, including an end to the 'too big to fail' doctrine. Yes, no more bailouts. No more bailouts.”