Bank of America just reported its quarterly earnings and they're better than expected: $2.5 billion in profit. What does that mean for the U.S. economy on the whole?

The corporate earnings reports are flooding in this morning, with companies like Southwest Airlines and Verizon telling us how they did in the first part of this year. In recent quarters, companies have padded their profits by cutting costs.

Bank of America is launching a pilot program where homeowners who are at risk of foreclosure would hand over the deed to their house and then rent it back from the bank.

Turns out American banks are in a much better position financially than we thought.