Bank of America Chairman and Chief Executive Brian Moynihan has been quietly retooling the bank while working to end legal problems.» Read More
*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.
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.
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.
When investors get to speak at the annual meeting of banks, anger, scorn and even singing can result.
Jimmy Fallon, what an extraordinary man, says musician Bono, discussing his upcoming performance on The Tonight Show when Jimmy Fallon makes his debut as the show's host.
Musician Bono discusses his partnership with Bank of America to create funds to fight and prevent AIDS. We have to keep public pressure to get money from government budgets, says Bono.
The "Squawk on the Street" news team share their views on the big bank's earnings and outlook.
David Hilder, Drexel Hamilton analyst, breaks down the big bank's fourth quarter earnings. The investment bank and capital markets business is performing very well, says Hamilton.
Bank of America president and CEO Brian Moynihan told CNBC's Maria Bartiromo that he sees unemployment "working its way down."
CEOs from major banks met with President Obama on Wednesday and warned of the consequences if lawmakers fail to raise the US debt ceiling.
Homebuying has remained "pretty strong" despite higher mortgage rates, but refinancing has dropped "quite a bit," Bank of America CEO Brian Moynihan told CNBC.
CNBC's Becky Quick talks with Warren Buffett, Berkshire Hathaway chairman & CEO, and Brian Moynihan, Bank of America CEO, about what prompted Buffett to invest in the big bank two years ago and if he will eventually exercise his warrants to buy 700 million shares of BAC for $7.14 per share.
CNBC's Becky Quick talks with Warren Buffett, Berkshire Hathaway chairman & CEO, and Brian Moynihan, Bank of America CEO, about the Fed's no taper decision and what it means for the economy and jobs.
Bank of America CEO Brian Moynihan told CNBC that higher mortgage rates have hurt the lender's home refinancing business but not actual homebuying.