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Racial and gender representation increased in most areas of the company, including among senior management, according to data the bank released Friday. Still, the percentage of women in the top three tiers of the firm remained unchanged from a year earlier at 41%.October 16
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Spending is up and deferrals are down sharply, signaling that the economy has turned a corner, CEO Brian Moynihan said. The outlook stood in stark contrast to JPMorgan Chase, which set aside more funds to address potential exposure in consumer banking.October 14
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Third-quarter net income dropped nearly 16% from a year earlier as revenues at the company's consumer unit declined at about the same pace and trading revenue gains were below estimates.October 14
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Credit Suisse Group is set to hire Christian Meissner, Bank of America’s former investment bank head, as it seeks to link up its richest customers with deals sourced by its securities unit.October 13
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Jane Fraser, who in February will become the first female CEO of a Wall Street bank, said during a Women in Banking event hosted by American Banker that she will be “the first of many, many more” to come.October 8
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Bank of America plans to offer some of its customers access to short-term loans, the latest blow to the payday lending industry.October 8
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HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.October 6
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New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms.October 4
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Smith, BofA's chief administrative officer, is leading the bank's push to tackle economic mobility challenges in its 91 markets.
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The initiative, backed by Vice Chairman Anne Finucane and Chief Operating Officer Tom Montag, is Bank of America’s eighth environmental, social and governance-themed bond.September 28
