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Brian Moynihan

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  • Jan 15- Bank of America Corp, the second largest U.S. bank by assets, reported a 14 percent fall in quarterly profit as a decline in bond yields further crimped earnings. Chief Financial Officer Bruce Thompson described the fourth quarter as a "challenging rate environment," but said the bank expected to earn an extra $3.7 billion from higher loan and securities...

  • Jan 15- Bank of America Corp, the second-largest U.S. bank by assets, reported a 14 percent fall in quarterly profit as revenue from fixed-income trading fell. JPMorgan Chase& Co reported a decline of 14 percent in quarterly bond trading revenue on Wednesday. Net income attributable to common shareholders fell to $2.74 billion, or 25 cents per share, in the fourth...

  • NEW YORK, Dec 31- Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit. "Countrywide's fraud is borne out by the transactions' dismal performance," said Ambac, which in September 2010...

  • Ambac sues Bank of America over Countrywide mortgage bonds Wednesday, 31 Dec 2014 | 11:37 AM ET

    NEW YORK, Dec 31- Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit. Bank of America, the second-largest U.S. bank, bought Countrywide in July 2008. The lawsuit shows how Charlotte,...

  • Low oil prices: Double-edged sword for banks Friday, 19 Dec 2014 | 4:35 PM ET
    Workers check the valves at the Taq Taq oil field in Arbil, Iraq, in this Aug. 16, 2014 photo.

    Less cash flow from oil companies could pinch loan payments to banks but more gas savings in consumers' wallets will create new business.

  • BofA CEO: 'Clearly' superior plan to stay big  Tuesday, 9 Dec 2014 | 9:30 AM ET

    CNBC's Kayla Tausche explains how a presentation by Bank of America CEO Brian Moynihan is causing the bank's stock to move today.

  • NEW YORK, Nov 6- A number of high-profile brokers have left Bank of America Corp's Merrill Lynch wealth management unit in recent weeks, and top executives at the company have grown concerned enough to ask business head John Thiel to explain the departures, three sources familiar with the matter told Reuters. The brothers had been with Merrill Lynch for decades,...

  • Moynihan reshapes Bank of America after legal costs Thursday, 16 Oct 2014 | 9:28 AM ET
    Brian Moynihan

    Bank of America Chairman and Chief Executive Brian Moynihan has been quietly retooling the bank while working to end legal problems.

  • *Q3 net loss $0.01/ shr vs. profit $0.20 year earlier. Oct 15- Bank of America Corp said on Wednesday that it has moved past the worst of its legal settlements linked to the financial crisis, after its latest big legal charge brought the bank's common shareholders a net loss for the third quarter. In the most recent settlement, the bank paid $16.65 billion to resolve...

  • NEW YORK, Oct 15- The global wealth and investment management businesses contributed 21.7 percent of Bank of America Corp's revenue in the third quarter, the highest since the bank took over brokerage giant Merrill Lynch during the depths of the financial crisis in 2009.. Revenue from the retail brokerage, private banking and financial planning businesses...

  • BAC ekes out slight profit, revenues sluggish  Wednesday, 15 Oct 2014 | 8:25 AM ET

    CNBC's Kayla Tausche breaks down Bank of America's third quarter results.

  • Oct 15- Bank of America Corp, the No. 2 U.S. bank by assets, reported a small quarterly loss applicable to common shareholders on Wednesday, largely due its record $16.65 billion mortgage settlement with the U.S. government in August. The bank posted a net loss attributable to shareholders of $70 million, or 1 cent per share, for the three months ended Sept. 30, compared...

  • BAC posts less-than-expected loss  Wednesday, 15 Oct 2014 | 7:18 AM ET

    Credit was a tailwind, says Jeffery Harte, Sandler O'Neil principal, breaking down Bank of America's quarterly numbers and sharing his thoughts on the banking sector.

  • Dimon: Shadow banking threat to US economy Friday, 10 Oct 2014 | 10:45 AM ET
    Jamie Dimon, chief executive officer of JPMorgan Chase & Co.

    The JPMorgan CEO sees one thing that could derail the recovery: The $3.2 trillion nonbank financial system, or "shadow banks."

  • Bank of America names CEO Moynihan chairman Thursday, 2 Oct 2014 | 7:08 AM ET
    Brian Moynihan, president and CEO of Bank of America at 2014 WEF in Davos, Switzerland.

    Bank of America said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately.

  • Oct 1- Bank of America Corp said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately. Bank of America posted a bigger-than-expected 70 percent jump in profit in the latest quarter. They closed at $16.82 on the New York Stock Exchange on Wednesday.

  • Bank of America names CEO Moynihan chairman of board Wednesday, 1 Oct 2014 | 5:07 PM ET

    Oct 1- Bank of America Corp said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately.

  • NEW YORK, Sept 16- Bank of America Corp gave up about $6 billion in annual revenue by phasing out risky consumer banking products and eliminating certain fees, but the long-term impact on profits should be minimal, a top executive said on Tuesday.

  • NEW YORK, Aug 21- Bank of America Corp has long argued to enforcement officials that it was being forced to pay for the sins of companies it acquired in the crisis, but on Thursday the bank admitted at least some of its mortgage problems happened on its watch.

  • NEW YORK, Aug 21- Bank of America's decision to pay $16.7 billion to settle charges stemming from the sale of mortgage-backed securities may finally allow the company to put last decade's housing bubble behind it, fund managers and analysts say.