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Bank of America Corp

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  • WASHINGTON, June 17- A U.S. bank regulator on Wednesday said it imposed restrictions on mortgage servicing against HSBC, Wells Fargo and four others because they failed to meet all of the requirements of a major settlement. Wells Fargo and HSBC face the toughest restrictions, the OCC said on Wednesday, and JPMorgan Chase, EverBank, Santander and U.S. Bank also will...

  • Goldman to summer interns: Go home at night! Wednesday, 17 Jun 2015 | 9:27 AM ET
    Traders work at the Goldman Sachs booth on the floor of the New York Stock Exchange.

    Goldman Sachs has told its summer investment banking interns not to stay in the office overnight in a bid to improve working conditions for its junior staff.

  • NEW YORK, June 17- Goldman Sachs Group Inc has told its summer investment banking interns not to stay in the office overnight in a bid to improve working conditions for its junior staff. The moves came after the death of a Bank of America Corp intern in London in 2013 fueled concerns over working excessive hours. Bank of America said at the time it would recommend...

  • Banks' forex lawsuit settlements near $2 bln-WSJ Wednesday, 17 Jun 2015 | 9:07 AM ET

    HSBC Holdings Plc, Barclays Plc, BNP Paribas SA and Goldman Sachs Group Inc have recently signed agreements to settle the case, the Journal reported, citing people familiar with the matter. HSBC has agreed to pay $285 million and Barclays $375 million, the Journal said. HSBC, Barclays, BNP Paribas and Goldman Sachs could not be immediately reached for comment.

  • BEIJING, June 17- China's cabinet has allowed Bank of Communications to look into taking on more private shareholding as part of the government's push to reform state-owned lenders struggling with a spike in bad loans in a slowing economy. HSBC is the largest foreign shareholder in BoCom, with a 19 percent stake, but the plan also did not mention anything about...

  • Early movers: FDX, KYTH, HRC, PFE, LLY & more Wednesday, 17 Jun 2015 | 7:54 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • *Policy statement to be released at 2 p.m. EDT/ 1800 GMT. WASHINGTON, June 17- The U.S. "The signal from the June... meeting will be especially important," Goldman Sachs economist Kris Dawsey wrote this week, with an "overarching message" that rates will start rising in September, and are likely to rise again by the end of the year.

  • WASHINGTON, June 16- The U.S. Unlike Wall Street banks that are subject to Fed oversight, large insurance firms such as MetLife and Prudential are overseen by a multitude of state regulators, and there are no nationwide rules that determine how much risk they can take on. This came to light when insurance giant AIG collapsed in 2008 because of risky bets made by a...

  • Big money not preparing for big exit by Greece Tuesday, 16 Jun 2015 | 12:05 PM ET
    A Greek and European Union flag

    Hedge funds and other investment managers are taking down market risk, according to a new survey, but remain fundamentally optimistic.

  • Is defaulting on student debt ever a good idea? Monday, 15 Jun 2015 | 9:33 AM ET
    Dirk Wierenga’s state tax refunds are being confiscated because his son defaulted on his loans. “I’m basically a third-world nation when it comes to my credit score,” Mr. Wierenga said.

    A look at the ramifications of defaulting on student debt by The New York Times.

  • Is it time to get out of junk bonds? Sunday, 14 Jun 2015 | 8:30 PM ET

    Yield chasers have plowed into junk bonds, but with rate hikes looking increasingly likely, it may be time to head for the exit, analysts said.

  • Kudlow: A tribute to conservatism's banker Sunday, 14 Jun 2015 | 7:03 AM ET

    He was a low-key guy, but the late Randy Richardson laid the financial foundation of the new conservative movement, says Larry Kudlow.

  • UPDATE 1-Tesla enters into $500 mln credit facility Friday, 12 Jun 2015 | 6:14 PM ET

    June 12- Electric car maker Tesla Motors Inc said on Friday that along with its subsidiary, Tesla Motors Netherlands B.V., it had entered into a $500 million senior secured asset-based revolving credit agreement. The agreement was signed with a group of banks, including Deutsche Bank, Bank of America, the company said. Tesla said in May that it planned a total of $1.5...

  • Tesla enters into $500 mln credit facility Friday, 12 Jun 2015 | 5:55 PM ET

    June 12- Electric car maker Tesla Motors Inc said on Friday that along with its subsidiary, Tesla Motors Netherlands B.V., it had entered into a $500 million senior secured asset-based revolving credit agreement. The agremeent was signed with a group of banks, including Deutsche Bank, Bank of America, the company said. In May, the company unveiled Tesla Energy-...

  • Traders bet there's money in banks Thursday, 11 Jun 2015 | 12:09 PM ET
    Customers use automated teller machines (ATM) as pedestrians pass in front of a Bank of America Corp. branch in New York.

    Banks are rallying as rates rise, and some traders are betting one name in particular will see big gains.

  • INSIGHT-Automated lenders threaten to eat banks' lunch Thursday, 11 Jun 2015 | 1:00 AM ET

    NEW YORK, June 11- When Kevin Pereira needed a loan last year for his shaving gear business, his bank, Wells Fargo, considered his application and turned him down. Kabbage, Lending Club and On Deck are among the lenders making small business and consumer loans that more established banks are less eager to approve. Non-traditional lenders could siphon away as much as...

  • With low interest rates and limited demand for companies' products, it seems unlikely investors would prefer executives to reallocate capital to expand their businesses, based on comments from several speakers at the 2015 Reuters Wealth Summit in New York this week. "The tough challenge that they face is there's this excess capacity" that makes it unclear how...

  • Hey, summer interns! Get THIS right. Seriously. Wednesday, 10 Jun 2015 | 2:37 PM ET
    Young business professionals

    Veteran trader Raj Malhotra offers up some key advice for the summer interns if they want a full-time job on Wall Street.

  • Wall St courts start-ups it may have ignored Wednesday, 10 Jun 2015 | 8:30 AM ET
    A hackathon that Goldman Sachs hosted with Kensho, a start-up, at the bank’s headquarters.

    There is a growing recognition across Wall Street that the old habit of ignoring these upstarts may be foolhardy, the NYT reports.

  • MSCI's decision to delay the inclusion of China-listed shares in its emerging market index weighed on mainland markets on Wednesday.