Median household income in the United States declined for the second straight year, according to data released from the U.S. Census Bureau today. Income was $50,502 in 2011, more than 8% below the 2007 pre-recession peak.

Bank of America will cut 16,000 jobs this year. (WSJ)

The CEO of JCPenney Co. Inc. ( NYSE: JPC ) says he expects the retailer to have a poor second half. (WSJ)

Read more:  Media Digest (9/20/2012) Reuters, WSJ, NYT, FT, Bloomberg - 24/7 Wall St. http://247wallst.com/2012/09/20/media-digest-...z2718njzlv