Financials start the year with a bang after Bank of America (BAC +6%) says it paid $3B to settle...

Financials start the year with a bang after Bank of America (BAC +6%) says it paid $3B to settle claims regarding mortgages sold to Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC). SNV +6.4%, JPM +3.5%, C +2.5%. But big banks face challenges ranging from further regulatory attention on various revenue streams to limited channels for new growth.