If the financial industry were made up of nursery rhymes, Wells Fargo & Co. would be Little Jack Horner and Bank of America Corp. would be regarded as Pinocchio.

As evidenced by the reaction to the two banks' second-quarter results on Tuesday, Bank of America is plagued by a lack of credibility among analysts and investors. That's a problem Wells Fargo, which continues to pull out plum earnings, has been able to avoid.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.