Bank of America News
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29 min ago | Seeking Alpha
It's estimated that Citibank will pay a $7 billion dollar fine for its shoddy mortgage practices before the financial crisis.
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Charlotte's two big-bank employers are set to report quarterly earnings, once again shining a light on the health of their businesses and on the U.S. economy as a whole.
Attorney General Eric Holder has formally refused to meet with Bank of America Corp Chief Executive Brian Moynihan to hammer out a multibillion-dollar deal, as talks to resolve probes into shoddy mortgage securities sold by the bank and its units remain at a standstill, according to people familiar with the matter.
A quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, is payable on September 15 to shareholders of record as of August 29. A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on August 15 to ... (more)
They say the wheels of justice spin slowly, but they never said they spin fairly, or for Citigroup , cheaply.
The firm set a price target of $18 for the bank with an "equal weight" rating. Barclays analysts lowered its second quarter estimates to 29 cents a share from 31 cents a share.
Mario Draghi is undermining his own plan to support asset-backed debt as he floods banks with cheap money, according to Morgan Stanley and Bank of America Corp., prompting them to cut forecasts for sales of the securities.
Background: Bank of America is one of the world's leading financial services companies.
He also has experience working in financial services and public relations and as a commercial lender at Bank of America.
In 2012, Fortune Magazine named Bank of America CEO Brian Moynihan as one of the worst performing chief executives in the United States.
According to a report from the Bank of America Corp., the U.S. is projected to remain the top producer of 2014 because domestic output is forecast to increase and production growth outside the U.S. has been lower than anticipated.
Bloomberg reported on July 4 that the U.S. will remain the world's biggest oil producer this year after overtaking Saudi Arabia and Russia, as extraction of energy from shale rock spurs the nation's economic recovery, according to Bank of America Corp. .
Those who thought that last week's government bailout of Fannie Mae and Freddie Mac would stabilize the financial markets got a wakeup call this week.
The US markets are down this afternoon, with the Dow down 0.37%, the S&P lower by 0.50% and the Nasdaq lower by 0.80%.
Investments in financial technology start-ups are booming as big banks throw their support behind the field, which is expected to reach $8 billion in investments in the next four years.
The iShares Dow Jones U.S. ETF is seeing unusually high volume in afternoon trading Monday, with over 158,000 shares traded versus three month average volume of about 31,000.
Updated: Thu Jul 10, 2014 04:39 am
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