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Brian Moynihan

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  • 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.

  • 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.

  • WASHINGTON, Aug 21- Bank of America Corp has reached a $16.65 billion settlement with U.S. regulators to settle charges that it misled investors into buying troubled mortgage-backed securities. Bank of America said the accord is expected to reduce third-quarter earnings by about $5.3 billion before taxes, or about 43 cents per share after taxes.

  • Aug 18- Thomas Montag will become Bank of America Corp's sole chief operating officer as co-COO David Darnell takes a new title after asking to relocate to Florida, Bloomberg reported. Montag will continue to head the investment banking and capital markets businesses, the Bloomberg report said.

  • Aug 6- Bank of America Corp is close to a deal with the U.S. Department of Justice to pay more than $16.5 billion to end investigations into mortgage securities that the bank and companies it bought sold in the run-up to the financial crisis, a person familiar with the matter said on Wednesday.

  • UPDATE 1-BofA raises dividend for first time in 7 years Wednesday, 6 Aug 2014 | 9:41 AM ET

    Aug 6- Bank of America Corp said it would increase its quarterly dividend to 5 cents per shares from 1 cent per share, its first dividend hike in seven years. The Federal Reserve approved Bank of America's updated capital plan, which included an increase in common stock dividend but no share repurchases, the company said in a statement on Wednesday.

  • UPDATE 1-Merrill Lynch Wealth profit strained by expenses Wednesday, 16 Jul 2014 | 5:41 PM ET

    *Record client assets of $2 trillion trail those at Charles Schwab. NEW YORK, July 16- Bank of America's continuing investment in its Merrill Lynch wealth management business caused expenses in its global wealth sector to grow more quickly than revenue in the second quarter, the company said on Wednesday.

  • Department of Justice official on Wednesday issued a thinly veiled threat to Bank of America Corp, saying that banks under investigation for shoddy mortgage securities they sold before the financial crisis must admit to misconduct and pay substantial penalties or face lawsuits from the agency.

  • Merrill Lynch Wealth profit strained by expenses Wednesday, 16 Jul 2014 | 3:04 PM ET

    *Record client assets of $2 trillion trail those at Charles Schwab. NEW YORK, July 16- Bank of America's continuing investment in its Merrill Lynch wealth management business caused expenses in its global wealth sector to grow more quickly than revenue in the second quarter, the company said on Wednesday.

  • July 16- Bank of America Corp said second-quarter profit fell 43 percent, a bigger decline than analysts had expected, after the bank posted $4 billion of litigation expenses linked to mortgage disputes following the financial crisis.

  • Bank of America quarterly profit drops 43 percent Wednesday, 16 Jul 2014 | 9:30 AM ET

    Mortgage revenue fell and litigation costs increased for Bank of America in the second quarter.

  • July 16- Bank of America Corp, the second-largest U.S. bank by assets, reported a 43 percent drop in second-quarter profit as mortgage revenue fell and litigation costs soared. Bank of America's shares, which have barely moved this year, fell slightly to $15.68 in premarket trading on Wednesday.

  • July 10- Bank of America Corp has asked regulators to approve a higher quarterly dividend of 5 cents per share after it withdrew a previously planned increase in April, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

  • Bank of America has discussed paying about $12 billion to settle the probes, including a portion to help struggling homeowners, while the Justice Department had suggested a $17 billion settlement, sources said.

  • NEW YORK, June 22- Bank of America Corp will announce on Monday it will lower the threshold for consumers who qualify for discounts on loans and other benefits as the No. 2 U.S. bank seeks to win more business from existing customers.

  • Is BofA taking a play out of Jamie Dimon's book? Friday, 20 Jun 2014 | 6:13 AM ET
    Brian Moynihan, CEO of Bank of America

    Bank of America has asked the U.S. Attorney General to meet with its chief executive officer in an attempt to resolve differences over a mortgage settlement.

  • Representatives of Bank of America Corp have asked U.S. Negotiators for Bank of America and the Justice Department have not met in more than a week and have no plans to do so after a flurry of meetings did not bring them close to a settlement amount, sources said.

  • NEW YORK, May 19- A federal appeals court said Bank of America Corp was not liable to shareholders for allegedly concealing a $10 billion fraud lawsuit by American International Group Inc, whose filing led to a 20- percent one-day plunge in the bank's stock price.