CEO Brian Moynihan tells CNBC Bank of America benefited from the Swiss currency shock that rocked markets even though it "caught everybody by surprise."» Read More
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.
Bank of America directors are supportive of its proposed $16 billion to $17 billion mortgage-securities settlement, according to someone familiar with the matter.
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.
Bank of America and the Justice Department are closing in on a deal to settle mortgage probes that could reach as much as $17 billion.
The U.S. Federal Reserve approved a resubmitted capital plan from Bank of America, which announced it has raised its dividend.
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.
Mortgage revenue fell and litigation costs increased for Bank of America in the second quarter.
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.
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.