• Disappointing retail sales figures and a surprising rise in the number of foreclosures are sending stocks lower this morning. [CNN, WSJ]
• The Obama administration is looking into ways to change the way people across the financial services industry are compensated and that includes companies that didn't even receive federal bailout money. [WSJ, NYT]
• Ed Liddy may be jobless soon: Trustees overseeing taxpayers' stake in AIG are seeking a CEO to replace Liddy as well as new board members. [WSJ]
• Speaking of AIG, were officials like Tim Geithner aware of the bonus situation at the company months before the news broke? It looks that way. [WaPo]

• ING reported a loss of $1.1 billion for the first quarter. [Forbes]
• Treasury Secretary Tim Geithner said smaller banks will have an additional six months to apply for cash from the $700 billion financial rescue fund. [BN]
• Chrysler's bankruptcy might take as long as two years to complete. [BN]
• One of Goldman Sachs's is under fire for potential conflicts of interest. [WSJ]
Steve Feinberg's Cerberus Capital and J. Christopher Flowers's J.C. Flowers & Co. are seeking to merge their unprofitable Japanese banks. [WSJ]