May 31- Bank of America Corp second-quarter earnings will be hurt by a drop in trading revenue, lower-than-expected interest rates and the sale or shuttering of certain assets, according to comments from Chief Executive Brian Moynihan on Wednesday. Revenues will also be hurt by lower-than-anticipated interest rates and the fact that the bank closed the sale...
Within the details of the $4.1 trillion spending plan is a change in language regarding Fannie Mae and Freddie Mac.
May 18- The head of Bank of America Corp, the United State's fourth-biggest mortgage lender, said on Thursday banks would be able to supply a bigger share of funding for home purchases if the standard down payment for buyers was cut to 10 percent from 20 percent. The vast majority of mortgages are underwritten to strict standards set by the U.S. government or...
In an interview Thursday with CNBC, Moynihan said some of the measures being contemplated now to loosen up the financial system make sense.
But Mnuchin was explicit before the Senate Banking Committee that that vision did not include breaking up large banks that engage in both. A call to reinstate the 1933 law was included as part of the official Republican Party platform during the 2016 presidential campaign. Gary Cohn, the former Goldman Sachs executive who now leads President Donald Trump's...
Wall Street banks have been energized by increased market activity prompted by the so-called "Trump trade" with the sector rallying since the election on hopes of simpler regulations and tax cuts under President Donald Trump's administration. "This quarter shows the value of our businesses as rates begin to rise and as we experience increased capital...
April 18- Bank of America Corp reported a higher-than-expected jump in quarterly profit as trading surged and the lender earned more from underwriting debt and equity offerings and advising on deals. Wall Street banks have been vitalized by increased market activity prompted by the so-called "Trump trade". The U.S. economy continues to show consumer and...
CNBC's Wilfred Frost compares Bank of America and Goldman Sachs' quarterly numbers.
Wall Street banks have been vitalized by increased market activity prompted by the so-called "Trump trade". The second-largest U.S. bank's total revenue rose about 7 percent to $22.45 billion in the three months ended March 31, handily beating the average analyst estimate of $21.61 billion. BofA's shares, which have risen about 34 percent since the...
The second-largest U.S. bank said net income attributable to shareholders rose to $4.35 billion in the three months ended March 31 from $3.02 billion a year earlier. Earnings per share rose to 41 cents per share from 28 per share. The Charlotte, North Carolina- based bank's shares were up about 1 percent at $23.05 in premarket trading.
CNBC's Wilfred Frost breaks down Bank of America's quarterly numbers which posted EPS of $0.41 on revenues of $22.2 billion.
CNBC's Wilfred Frost reports on comments made by Bank of America CEO Brian Moynihan.
Brian Moynihan identified areas where lending would expand if Washington rolls back regulations.
The finance world delivered a muted response to Trump's temporary ban on immigration. The New York Times reports.
"You can't sit on your hands," James Gorman tells CNBC from Davos.
The bank chief tells CNBC that the economy could grow up to 4 percent this year with the right policies from Donald Trump.
Brian Moynihan shares his views on the company's stock rally and rising interest rates in an exclusive interview Tuesday on CNBC's "Squawk Box."
Chinese President Xi Jinping's concern that the world could fall into a trade war is premature, Brian Moynihan tells CNBC.
Chinese President Xi Jinping expressed concern about trade and globalization being felt outside the United States, Brian Moynihan tells CNBC.
Brian Moynihan, Bank of America CEO, weighs in on rolling back regulations.