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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Regulation, credit quality and AI-fueled fraud are among the big concerns for banks and payment companies.
May 14 -
After a California woman spent more than a decade obtaining reparations for Nazi plundering of her family's belongings, the money disappeared from her bank account. Her saga highlights a gap in fraud cases between what consumers expect from their banks and what those banks are in a position to deliver.
May 8 -
The agency has a history of tangling with parent companies over how to split the burden after banking units collapse.
April 26 -
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
April 24 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16 -
In a rare sweep, fixed-income and equities traders at five of the largest U.S. banks beat estimates for the first quarter.
April 16 -
Bank of America and other banks' balance sheets have remained resilient despite higher interest rates, though uncertainties remain, including inflation and attacks in the Middle East.
April 16 -
Large U.S. banks have mostly staved off previous shareholder-backed efforts to ensure their CEOs also don't lead their boards. The issue will soon be put to a vote at JPMorgan Chase, Bank of America and Goldman Sachs.
April 12 -
With the market predicting fewer interest rate cuts than previously anticipated, analysts expect some larger banks will increase their 2024 guidance for net interest income when they start reporting earnings on Friday.
April 10 -
The first major hurdle arises for lenders that approach $100 billion in assets. That's when they have to deal with a key regulatory threshold, becoming so-called Category IV banks, which are subject to stiffer capital rules and oversight.
April 4