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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Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.
November 5 -
The agency's "no-action" letter is intended to provide more regulatory certainty for the bank after it announced a short-term credit product available to checking account customers next year.
November 5 -
The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1.
October 29 -
The additional payments are being halted this month, according to Bill Halldin, a spokesman for the company. They were introduced for eligible staff in March as the coronavirus spread throughout the U.S.
October 29 -
Bank of America has seen a 33% increase in cash gifts flowing through the Zelle P2P app since the start of the pandemic, with total gifting volume reaching $1 billion.
October 28 -
Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months.
October 26 -
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 -
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 -
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 -
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
STOCK SNAPSHOT
