Bank of America
Bank of America
Bank of America Corp is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.
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The bank is siding with a growing list of groups, including the U.S. trustee, attorneys general from several states and consumers, who object to Ditech's plan to sell its reverse mortgage business.
July 23 -
Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.
July 17 -
Gains in the retail division helped drive overall profit to a record for a fifth consecutive quarter as mortgage activity surged and provisions for bad loans posted a surprise drop from the first quarter.
July 17 -
Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition.
July 17 -
The offering would mirror a similar move by Charles Schwab to offer clients a new pricing plan for its robo service.
July 16 -
The interim CEO told analysts Tuesday that the company remains committed to hiring an outsider who isn't connected to its scandals of recent years.
July 16 -
Other executives are being considered, too, but the list is dwindling as JPMorgan’s Gordon Smith and other big names are said to be out of the running. Meanwhile, senior Wells executives have pushed to keep interim CEO Allen Parker.
July 12 -
Some large banks, including Bank of America and JPMorgan Chase, will increase dividends and stock repurchases by double digits.
June 28 -
The results clear the way for bigger dividends and stock buybacks at big banks; State Street agreed to pay $88 million to settle claims it overcharged clients.
June 28 -
In a year where most of the 18 institutions taking the second round of the Federal Reserve's stress tests showed improvements over last year, JPMorgan Chase and Capital One were both forced to adjust their capital plans in order to meet the central bank's minimum thresholds.
June 27