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Bank of America News

News on Bank of America (Ticker: BAC) continually updated from thousands of sources around the net.

12 hrs ago | Bloomberg

Clark Sees TD Passing BofA as No. 3 NYC Bank by Branches

Toronto-Dominion Bank expects to be New York City 's third-largest lender by branches within two years, Chief Executive Officer Ed Clark said, surpassing Bank of America Corp. "We're still shooting to do it by 2016," Clark, 66, said today in a telephone interview. Most of the 37 U.S. branches TD Bank plans to add this year are in the city, he said, "so it's not like we're not doing it."


Related Topix: TorontoDominion Bank, Banking, Financial Services

17 hrs ago | Reuters

UPDATE 1-Coke, J&J join big companies behind new employee wellness push

Leaders of some of the biggest U.S. corporations, from Coca-Cola Co to Johnson & Johnson, unveiled a campaign on Tuesday to reduce the nation's healthcare costs, urging their peers to embrace wellness programs to improve employee health. The newly-formed group, called The CEO Council on Health and Innovation, said it came together "to lead the U.S. business community" in improving employee and community health and reducing costs.


Related Topix: Food, J and J Snack Foods, Johnson & Johnson, Beverages, Biotech, CocaCola, Johnson and Johnson, Medicine, Johnson and Johnson Merck Consumer Pharmaceuticals, Healthcare Industry, Banking, Financial Services

21 hrs ago | Business Journal

Bank of America, Wells Fargo pass mid-year stress tests

Charlotte-based Bank of America and San Francisco-based Wells Fargo have both released the results of their mid-year stress tests. And to no surprise, both lenders appear to have adequate capital to survive an unexpected economic crisis.


Related Topix: Financial Services, Wells Fargo , Banking

23 hrs ago | Reuters

Bank of America forgoes $6 billion with slimmer consumer strategy

The company had previously earned about $3 billion a year in punitive fees such as overdraft charges on debit-card purchases and about $3 billion a year through the sale of identity theft, payment protection and other "add-on" products, Thong Nguyen, head of Bank of America's mass-market retail bank, told an investor conference in Boston. The bank ended the practice of charging consumers debit card overdraft fees in 2010 and had stopped marketing add-on products by 2012.


Related Topix: Financial Services, Banking, Marketing

Yesterday | Seeking Alpha

Bank of America (BAC) Presents at RBC Capital Markets Financial...

We'd like to get started for the annual RBC Financial Services Conference. This year, like years past, we're going to do fireside chats and panels.


Related Topix: Banking, Financial Services, Small Business

Yesterday | Business Journal

Huntington puts its stamp on Bank of America branches in Michigan

Huntington Bancshares Inc. has completed its purchase of 24 branch offices in Michigan from Bank of America Corp. , reflagging the facilities and products with Huntington branding over the weekend.


Related Topix: Banking, Financial Services, Huntington Bancshares

Yesterday | The Charlotte Observer

Charlotte Symphony earns first surplus in more than a decade

Albert-George Schram, conducting the Charlotte Symphony Orchestra, thanks the audience for staying and listening in the rain during Summer Pops "Celebrate America!" concert in July. A long-term deficit of $6.1 million remains for the Charlotte Symphony Orchestra, but President Bob Stickler and his team reversed a troubling trend..


Related Topix: Symphony, Arts, Charlotte, NC, Theater, Banking, Financial Services

Yesterday | Seeking Alpha

Currency Exchange International: Compounding Cash Machine At A Deep Discount To Private Market Peers

A unique opportunity to own a compounding machine with organic growth in excess of 20% and high returns on capital. Currency Exchange trades at a steep discount to recent private market transactions.


Related Topix: Curon Medical, Medicine, Medical Equipment, Healthcare Industry, Banking, Financial Services, Wells Fargo

Mon Sep 15, 2014

The Washington Post

BofA Hiring Morgan Stanley's To as China Investment-Banking Head

Alex To, Morgan Stanley's chairman of China investment banking, is leaving to join Bank of America Corp. in a similar role, a person familiar with the matter said. To will be head of investment banking for China at Bank of America, the person said, asking not to be named because the move hasn't been announced.


Related Topix: Investment Banking, Morgan Stanley European Fund, Financial Services, Morgan Stanley, Banking, Business News


Monday's ETF with Unusual Volume: IXG

The iShares Global Financials ETF is seeing unusually high volume in afternoon trading Monday, with over 331,000 shares traded versus three month average volume of about 26,000. Shares of IXG were trading flat on the day.


Related Topix: Financial Services, Banking, Video, Business News

ABA Banking Journal

SNL Report: Carolinas deal puts newcomer into list at #44

Raleigh, N.C.-based First Citizens BancShares Inc. was the only company that managed to break into the top 50 list of the largest U.S. banks and thrifts in the second quarter, following the company's June 10 announcement of its $676.4 million acquisition of Columbia, S.C.-based First Citizens Bancorp. Inc. The "big four" U.S. banks maintained positions, led by JPMorgan Chase & Co.


Related Topix: Banking, Financial Services, JP Morgan Chase , Citigroup, Mach One, Goldman Sachs, Stanley, Investment Services

Learn Bonds

Bank of America's Newest Preferred Stock Yields 6.625%

Earlier this month, Bank of America issued a brand new series of preferred stock . Its Series W non-cumulative preferred pays quarterly distributions of $0.4140625 in March, June, September, and December.


Related Topix: Financial Services, Banking

Seeking Alpha

Bank Of America: A World Without Countrywide

Anyone who reads my articles knows I've been pounding the table to buy Bank of America for a long time now. I have maintained that BAC's issues are transitory - although they have been a little less transitory than I'd hoped - and that we'd eventually see the company earning billions upon billions and a higher stock price.


Related Topix: Financial Services, Banking

Business Journal

Wells Fargo looks to reduce its real estate footprint, consolidate space

Large corporations such as Bank of America Corp. and Wells Fargo & Co. are working to reduce the size of their real estate portfolios and do a better job of making use of the space they have, according to a panel of real estate executives who spoke at a recent CoreNet Global event at Carmel Country Club.


Related Topix: Financial Services, Wells Fargo , Banking, Startups, Mach One, Institutional Venture Partners

Seeking Alpha

Will Home Depot Follow Target Downward Post Data Breach?

HD recently announced investigations into data breaches of customer data, possibly going back as far as April; many are concerned HD stock will drop, like TGT, following its 2013 breaches. In many cases, investors are not told of the loss of company data, trade secrets and internal emails stolen by hackers that often work out of China or other overseas countries.


Related Topix: Banking, Retail, Target, Financial Services

Sun Sep 14, 2014

American Reporter


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. Lehman Brothers, the fourth-largest U.S. investment bank, succumbed to the subprime mortgage crisis it helped create with the biggest bankruptcy filing in history.


Related Topix: Home, Mortgage, Personal Finance, Economics News, Subprime Mortgage Crisis, Bankruptcy, Banking, Financial Services

Seeking Alpha

Comparing The Marginal Cost Of Funds For Berkshire Hathaway, Wells Fargo And Bank Of America

On September 8, we reported that Wells Fargo had a marginal cost of funding advantage of more than 0.30% over Bank of America. With tongue partly in cheek, both banks could reduce their marginal funding costs by giving up the implicit TBTF USA guarantee for an explicit Berkshire Hathaway guarantee.


Related Topix: Construction, Berkshire Hathaway, Investment Services, Business Wire, Berkshire Hathaway , Startups, Insurance, Empire Group, Wells Fargo , Banking, Financial Services

Sat Sep 13, 2014


People walk through Ltd.'s headquarters in Hangzhou, Zhejiang Province, China.

Bank of America Corp. , one of the few large banks that isn't working on Alibaba Group Holding Ltd.'s initial public offering, has found another way to make a buck on the deal. The Charlotte , North Carolina-based bank is giving investors a chance to bet on Alibaba's performance by offering them a product that uses the e-commerce company's largest shareholder, SoftBank Corp. , as a basis for approximating Alibaba's valuation.


Related Topix: Alibaba, Banking, Financial Services, World News, China, North Carolina, Internet, Science / Technology, SoftBank, Investment Services

Fox News

It's Time to Own at Least One Security Stock

It wasn't a particularly good week for the market and looking back, we can see the ominous double-top formed at Dow 17,000. After the big August run, though, this isn't unusual, so I'm thinking we drift to about 16.8K before the Dow makes another run up and through the old high.


Related Topix: Financial Services, Banking, Startups, Symantec, Business News

Fri Sep 12, 2014


The 5 Biggest Companies In 1812

Recently, Fortune magazine published a list of the 500 biggest companies in America in 1812. Looking at the number of banks in the first five spots, it's easy to see that the financial sector was a driving force behind our fledgling country's economy.


Related Topix: Banking, Financial Services, New York


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