(Bloomberg) -- Wall Street profits fell 13% in the first half of the year to $8.7 billion, signaling a potential second straight annual decline, according to a report from New York Comptroller Thomas DiNapoli.

Legal settlements tied to banks’ role in triggering the financial crisis are depressing profits after a 30% decline last year to $16.7 billion, DiNapoli said in the report released today. At the same time, bonuses, which rose 15% on average last year to $164,530 -- the highest since the financial crisis -- may climb again as a result of payments deferred from previous years, he said.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access