u.s. bancorp, in the event of a recapture event.t is when the irs determines, during the seven-year compliance time for the tax credit, that the project is no longer eligible for the tax credit. the recapture events are very narrowly defined. basically, the indemnification could be triggered if we fail to maintain our community developed into the status, if we fail to have at least 85% of the investments received from the tax credit being used for this project actually invested into the project. if we make impermissible redemptions, if we receive money back, such as if there is a foreclosure and we do not redeploy them to another eligible project, or if there is some kind of bad -- they actually call the the bad boy act exception. so if there is willful negligence or criminal act that results in a problem with respect to the tax credits are capital generated therefrom. four very limited instances. all comics of the bad boy act, very much under the control of the agency staff and the board. to maintain the corporate status and comply

u.s. bancorp and suntrust banks. so what is it about these three that you are singling them out? >> we especially like these larger regional banks within the u.s. bancorp and suntrust. why? number one there's no direct impact in europe. so that is off the table. number two, the retail side of most of the banks don't have a lot of regulatory headwinds right now. that's really the investment banking side. so we think that positions well. and third we think there's going to be capital deployment build it's dividend and share repurchase going forward. so those banks we feel pretty good about, pretty isolated and the values are compelling. now jpmorgan we think from a global standpoint given its valuation and given what it can earn today even in this environment is the large bank you go to. >> any disclosures on the three recommendations? >> not from me. >> all right. thank you so much for coming on the program. really appreciate it. >> always great to be here, susie. >> susie: same here. we always love having you on. we've been speaking with fred cannon, director and chief equity str

u.s. bancorp led the way.amazon.com slumping 12% after its disappointing late tuesday forecast. boeing led the dow posting a larger-than-expected profit and raising its full year forecast. corning rose after beating earnings and revenue expectations. after the bell, visa was down after posting slower revenue due to high costs. elsewhere, research in motion has been hit with class-action lawsuits in canada and the u.s. for the day's long service outage on blackberry devices earlier this month. in a close vote, the united autoworkers ratified a four-year labor pact with chrysler. and finally, 1.4 billion white coke cans featuring an image of a mother polar bear and her two little cubs will hit store shelves november 1st, all of this is to draw attention to a campaign to protect polar bears and their habitats. >>> coming up, the series gets soggy. big east college football. on the ice, the flyers clash with canadiens. >>> plus, a little canine comedy for you on the pitch in columbia. your early morning sports hea

u.s. bancorp, fifth third should start to outperform during the rest of the year because there's tremendous value in those good core franchises in the u.s. right now. >> reporter: the third quarter was clearly a terrible one for banks. but the focus now is on the fourth. a big concern is how exposed u.s. banks are to european debt problems, particularly through complex derivative trades. erika miller, "nightly business report," new york. >> susie: the banking industry is also facing much tighter regulations on high-risk trading. today, u.s. regulators released their draft of the "volcker rule," named after former federal reserve chairman paul volcker. the proposal ban's banks from trading for their own profit, and regulators are now asking the public for feedback on the best way to do that. washington bureau chief darren gersh reports. >> reporter: the volcker rule is supposed to keep banks from using taxpayer-insured deposits to place risky bets to boost profits. and in some ways, it has already accomplished its goal. >> many banks have already sold off their prop desk, have sold off their

u.s. bancorp, citigroup, and others who will not impose debit fees. investment bank goldman sachs finds itself the target of a lawsuit from a disgruntled investor. an australian hedge fund sued goldman sachs for $1 billion, claiming the bank sold it a fraudulent bond derivative in 2007. the fund wound up insolvent. this is the second time the basis yield alpha fund has gone after goldman, alleging the firm made false and misleading claims about the investments that included subprime housing mortgages. goldman denies misleading the hedge fund. >> tom: given the ups and downs of the stock market over the past several years, you may be forgiven if you feel like you've been taken for a ride. but one investment has been steadily riding higher and higher over the past few decades, surging almost 2,000%. erika miller tells us what it is and what is driving those big gains. >> reporter: forget about blue chips or a brick of gold. since the 1970s, a far better investment has been this distinctive shade of yellow. we're talking about the right to operate a new

u.s. bancorp., pnc, citi.chase is abandoning its plans. >> this was a netflix moment for bank customers. they have been hearing about one new fee after another and this one was the one that tipped them over the edge. >> reporter: experts warn, look out for so-called stealth fees for receiving a paper statement, for using a teller, fees for not using your account enough and fees for not maintaining a large minimum balance. >> even a bank that doesn't increase the fee if they increase the balance requirement that's a stealth fee increase right there. >> reporter: fees that wealthier customers can often avoid. many were add after congress cut in half the amount of money banks could charge merchants for accepting debit cards. >> it's going to cost the banking industry a billion dollars. we all knew full well at the end of the day it was the consumer who would be the loser. >> reporter: consumers can avoid the fees by checking to community banks or credit unions. in seattle becu credit union has seen the number of

u.s. bancorp, citigroup, pnc and even chase is abandoning its debit card fees. >> this was a moment for banktomers. they've been hearing about one new fee after another and this one was the one that tipped them over the edge. >> reporter: the big winners could be credit unions like seattle's becu. it would welcome any b of a customers who leave their bank. >> you're going to get free checking. in some cases you'll get interest with your checking. you're not going to pay to see a teller. you're not going to pay to get funds transferred a savings account. >> george kiriyama, today in the bay. >> more heat is coming down on the now bankrupt solar company solyndra. the white house ordered an independent review this week. this is the latest response to the criticism over the obama administration's half billion dollar loan to the solar company. less than a year later solyndra laid off more than 1,000 workers and declared bankruptcy. the independent review comes as house republicans are preparing for a possible vote on whether to subpoena white house documents related to the solyndra case. republic

u.s. bancorp, pnc, huntington bank and the aggregate amount is $20 billion incremental small-business lending over the next three years. >> thank you. secretary mills, do you have any analysis to determine what sba backed lending would be without redressed fees and higher guarantee? 75% to 80% guarantee supervising banks to mitigate risk? >> we do have evidence and in a chart which was attached to my testimony, you can see what happened. the actual 90% guarantees were ended on december 31st last year. we had a big spike before that happened so we have a recovery dip and we came back to a level fat was significantly above 2010 and also above 2008 levels. it seems to be working. >> i yield back. >> ranking member? >> thank you. since rates typically rise during economic downturns you might expect to see a rise in lending to such entrepreneurs. however, small dollar loans and loans to start off the line as a percentage of sba lending last fiscal year. does this mean agencies shifting away from making these types of loans and focusing on larger loans? to more mature companies? >> no. the agency b

u.s. involvement overseas. put that money back into the people. >> i'd like to have a constitutional amendment to bancorp pratt money and political -- >> police were on hand to direct traffic and block some streets. >>> the protests starting it all still going on this weekend. stay with us. ahead at 7:15, the clash demonstrators in new york had with police. >>> in washington, d.c. the final preparations are underway for tomorrow's dedication of the martin luther king, jr. memorial. the 31st sculpture is the first monument on the mall honoring a black leader. president obama will speak at tomorrow's dedication. last night with no cameras rolling he made a surprise visit to the memorial with the first lady and their two daughters. visitors have been flocking there since it opened in august. >> it made my heart beat really strong. i have a lot of love for that. the structure is absolutely beautiful. and it does look like him. >> i just hope the young people here realize what a great sacrifice this was. this was -- this is hallow ground here today. >> the dedication was originally scheduled for late august. but it