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Financials Brian Moynihan

  • Bank of America has begun laying off employees in its operations and technology division, part of the second-largest U.S. bank's plan to cut costs.

  • On Wednesday the bank cut jobs across that division, many of which came from its Charlotte, N.C., headquarters, a spokesman said. The cuts come as Bank of America is aiming to cut costs to boost financial targets Chief Executive Brian Moynihan has set. Separately, at a conference on Wednesday, Chief Operating Officer Tom Montag said the global banking and markets...

  • LONDON, June 5- Executives at some of the world's biggest banks are warning that challenging market conditions could lead to a fall in second quarter trading revenues, with much of the blame being laid at a familiar door: low volatility. JP Morgan chief financial officer Marianne Lake, Bank of America chief executive Brian Moynihan and Morgan Stanley CEO James...

  • JPMorgan's trading revenue has fallen 15 percent so far in the second quarter, its chief financial officer, Marianne Lake, told investors at a conference. Bank of America Chief Executive Officer Brian Moynihan, meanwhile, told investors the bank's second-quarter trading revenue would be lower than a year ago. The first and second quarter in 2016 were fairly...

  • JPMorgan Chief Financial Officer Marianne Lake said the decline stemmed from lower volatility compared with a year ago when the United Kingdom was preparing to vote on Brexit. Bank of America Chief Executive Brian Moynihan said second-quarter earnings would be hurt by a drop in trading revenue, lower-than-expected interest rates and the sale or...

  • May 31- Bank of America Corp second-quarter earnings will be hurt by a drop in trading revenue, lower-than-expected interest rates and the sale or shuttering of certain assets, according to comments from Chief Executive Brian Moynihan on Wednesday. Revenues will also be hurt by lower-than-anticipated interest rates and the fact that the bank closed the sale...

  • Office of Management and Budget Director Mick Mulvaney holds a briefing on President Trump's FY2018 proposed budget in the press briefing room at the White House in Washington, May 23, 2017.

    Within the details of the $4.1 trillion spending plan is a change in language regarding Fannie Mae and Freddie Mac.

  • May 18- The head of Bank of America Corp, the United State's fourth-biggest mortgage lender, said on Thursday banks would be able to supply a bigger share of funding for home purchases if the standard down payment for buyers was cut to 10 percent from 20 percent. The vast majority of mortgages are underwritten to strict standards set by the U.S. government or...

  • Brian Moynihan, CEO, Bank of America

    In an interview Thursday with CNBC, Moynihan said some of the measures being contemplated now to loosen up the financial system make sense.

  • But Mnuchin was explicit before the Senate Banking Committee that that vision did not include breaking up large banks that engage in both. A call to reinstate the 1933 law was included as part of the official Republican Party platform during the 2016 presidential campaign. Gary Cohn, the former Goldman Sachs executive who now leads President Donald Trump's...

  • Wall Street banks have been energized by increased market activity prompted by the so-called "Trump trade" with the sector rallying since the election on hopes of simpler regulations and tax cuts under President Donald Trump's administration. "This quarter shows the value of our businesses as rates begin to rise and as we experience increased capital...

  • April 18- Bank of America Corp reported a higher-than-expected jump in quarterly profit as trading surged and the lender earned more from underwriting debt and equity offerings and advising on deals. Wall Street banks have been vitalized by increased market activity prompted by the so-called "Trump trade". The U.S. economy continues to show consumer and...

  • BAC's big beat over GS

    CNBC's Wilfred Frost compares Bank of America and Goldman Sachs' quarterly numbers.

  • Wall Street banks have been vitalized by increased market activity prompted by the so-called "Trump trade". The second-largest U.S. bank's total revenue rose about 7 percent to $22.45 billion in the three months ended March 31, handily beating the average analyst estimate of $21.61 billion. BofA's shares, which have risen about 34 percent since the...

  • The second-largest U.S. bank said net income attributable to shareholders rose to $4.35 billion in the three months ended March 31 from $3.02 billion a year earlier. Earnings per share rose to 41 cents per share from 28 per share. The Charlotte, North Carolina- based bank's shares were up about 1 percent at $23.05 in premarket trading.

  • BAC beats on top and bottom line

    CNBC's Wilfred Frost breaks down Bank of America's quarterly numbers which posted EPS of $0.41 on revenues of $22.2 billion.

  • Brian Moynihan

    CNBC's Wilfred Frost reports on comments made by Bank of America CEO Brian Moynihan.

  • Brian Moynihan

    Brian Moynihan identified areas where lending would expand if Washington rolls back regulations.

  • March 17- Goldman Sachs Group Inc Chief Executive Lloyd Blankfein saw his overall compensation fall slightly, reflecting lower revenues at the bank in the first half of 2016.. Blankfein and Citigroup Inc CEO Mike Corbat were the only major bank CEOs whose pay was cut. Bank of America Corp CEO Brian Moynihan's compensation surged 25 percent to $20 million, his...

  • March 17- Goldman Sachs Group Inc Chief Executive Lloyd Blankfein saw his overall compensation fall slightly, reflecting lower revenues at the bank in the first half of 2016.. Blankfein and Citigroup Inc CEO Mike Corbat were the only major bank CEOs whose pay was cut. Bank of America Corp CEO Brian Moynihan's compensation surged 25 percent to $20 million, his...