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TUESDAY, NOVEMBER 24, 2009
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NEWS ABOUT: Bank of America

Bank of America stories: 225 news summaries

61 - 80 of 225 Stories | << Prev 1 2 3 4 5 6 7 8 ... 12 Next >>

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(Newser) - The Obama administration is expected to tell 10 of 19 banks receiving "stress tests" to raise more capital as a buffer against possible dark days ahead, the Wall Street Journal reports. Down from a recent estimate that 14 banks needed more money, the list may include Wells Fargo, Bank... More »

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Citigroup • Bank of America • Wells Fargo • capital injection • TARP • stress tests

(Newser) - Bank of America shareholders gave Ken Lewis a demotion today. Lewis will remain the bank's president and CEO, but he will lose his position as board chairman, the Wall Street Journal reports. Shareholders—angry about the bank's plummeting fortunes of late—voted to split the chairman and CEO duties. Walter... More »

MORE ABOUT:
Bank of America • CEO • banking industry • chairman • Ken Lewis

MARKETS

 Financials Sink; Dow Off 8 

Rising consumer confidence gives stocks a boost

Apr 28, 09 3:24 PM CDT
(Newser) - The markets ended flat after mixed economic signals today, the Wall Street Journal reports. Stress-test troubles for Bank of America and Citigroup depressed financials, but news that consumer confidence rose in April—to 39.2, from 26.9 in March—gave stocks a boost.  The Dow fell 8.05... More »

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Citigroup • Bank of America • Dow Jones • Nasdaq • S&P 500 • consumer confidence index

MARKET Open

 Banks Give Stocks the Flu 


Apr 28, 09 8:47 AM CDT
(Newser) - Swine flu fears, and negative reports about the banks left investors feeling ill this morning. The Dow fell 65 points, while Nasdaq fell 0.8% and the S&P 0.9%. Bank of America and Citigroup were headed south, down 7.5% and 6.2% respectively on reports that they’... More »

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stock market • Citigroup • Bank of America • Dow Jones • Nasdaq • S&P 500 • swine flu

(Newser) - Federal Reserve regulators are urging Bank of America and Citigroup to raise more capital, based on their preliminary stress test results, sources tell the Wall Street Journal. Sources familiar with Bank of America say the shortfall numbers in the billions. But both banks are protesting, with Bank of America... More »

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Citigroup • Bank of America • Federal Reserve • capital • banking industry • stress tests

Thain Accuses BofA of Lying About Bonuses

Fired Merill CEO tries to 'set the record straight' about $3.6B payout

Apr 27, 09 8:21 AM CDT
(Newser) - In his first lengthy interview since being pushed out as CEO of Merrill Lynch, John Thain tells the Wall Street Journal that Bank of America—which acquired Merrill in September—is lying about its involvement in the $3.6 billion in bonus payouts that made Thain the poster boy for... More »

MORE ABOUT:
executive compensation • Bank of America • CEO • mergers and acquisitions • merger • Merrill Lynch • bonuses • John Thain • financial crisis • Ken Lewis

MARKETS

 Big Banks Rally; Dow Up 119 

Investors mull 'stress test' criteria

Apr 24, 09 3:24 PM CDT
(Newser) - Stocks gained today on some positive earnings reports, but anxiety over the ramifications of government "stress tests" kept the lid on, the Wall Street Journal reports. The disclosure of the “stress test” methodology seemed to boost the biggest banks, like Bank of America, Wells Fargo, and US Bancorp,... More »

MORE ABOUT:
Bank of America • Dow Jones • Wells Fargo • Nasdaq • S&P 500 • stress tests • US Bancorp

Paulson Threatened
to Oust Lewis, BofA Board

Cuomo wants
federal investigation

Apr 23, 09 5:31 PM CDT
(Newser) - Bank of America wanted to pull out of its deal with a fast-sinking Merrill Lynch last year but changed course after then-Treasury chief Henry Paulson threatened to oust CEO Ken Lewis and the entire BofA board, the Wall Street Journal reports. The revelation came in a letter to members of... More »

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Bank of America • Henry Paulson • Merrill Lynch • Andrew Cuomo • banking industry • Ken Lewis

BofA CEO Says Feds Urged Silence on
Merrill Losses

Shareholders kept in the dark to ensure deal

Apr 23, 09 7:36 AM CDT
(Newser) - Bank of America's CEO felt pressured by Fed Chairman Ben Bernanke and Treasury chief Henry Paulson to withhold details of last year's Merrill Lynch acquisition from shareholders, including mounting losses at Merrill that triggered a $20 billion bailout, the Wall Street Journal reports. BofA CEO Ken Lewis said in testimony... More »

MORE ABOUT:
Ben Bernanke • Bank of America • Henry Paulson • mergers and acquisitions • Merrill Lynch • financial crisis • Ken Lewis

Robber Told Bank He Was Fed Up With Bailouts

Gets away after SF bomb-threat heist

Apr 22, 09 3:20 PM CDT
(Newser) - Police are looking for a man who robbed a San Francisco branch of Bank of America—ostensibly out of disgust for corporate bailouts, the Chronicle reports. The man requested a meeting with a manager and told him he represented “a corporation” concerned with the bailouts—before threatening to detonate... More »

MORE ABOUT:
San Francisco • Bank of America • bank robbery • bomb • bomb threat • bailout • financial crisis

MARKETS

 Banks Push Dow Down 290, 
 Below 8,000 

Dow falls 289 on financial uncertainty

Apr 20, 09 3:25 PM CDT
(Newser) - Stocks saw deep declines today as uneasiness over banking spilled into the broader market, the Wall Street Journal reports. Bank of America slid 22% on word of growing losses in its credit-card unit. Goldman Sachs, Citigroup and JPMorgan Chase also fell on reports of a Treasury move that may dilute... More »

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Citigroup • Bank of America • Goldman Sachs • Dow Jones • Nasdaq • S&P 500 • JPMorgan Chase

(Newser) - Bank of America’s net income in the third quarter nearly tripled last year's, hitting $4.24 billion, or 44 cents a share, the company announced today, a figure that surpassed even the loftiest analyst expectations. The drastic turnaround will likely take pressure off embattled CEO Ken Lewis, who’s... More »

MORE ABOUT:
Bank of America • corporate earnings • financial sector • first quarter earnings • banking industry

SEC Probes BofA for Being Mum on Merrill Bonuses

Bank may have illegally misled investors over pre-takeover Merrill payouts

Apr 14, 09 7:22 AM CDT
(Newser) - The SEC is looking into whether Bank of America violated federal law by failing to let investors know Merrill Lynch planned to pay its execs $3.62 billion in bonuses before it was taken over by BofA last year, the Financial Times reports. The regulator is reviewing the bank's disclosure... More »

MORE ABOUT:
executive compensation • Bank of America • Dennis Kucinich • Merrill Lynch • SEC • bonuses • bailout • executive bonuses

MARKETS

 Banks Rally, But Dow Falls 26 


Apr 13, 09 3:19 PM CDT
(Newser) - More bankruptcy rumblings from General Motors sent stocks down early today, but the blow was cushioned by good news from the financial sector, the Wall Street Journal reports. Citi and Bank of America had double-digit gains ahead of what are expected to be solid earnings reports. The Dow finished down... More »

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stock market • NASDAQ • Citigroup • Bank of America • New York Stock Exchange • bankruptcy • Dow Jones • General Motors • financial sector • S&P 500

Fee Hikes at Bailed-Out Banks Spur Investigation

Interest rates as high as 30% raise questions about program's effectiveness

Apr 13, 09 7:08 AM CDT
(Newser) - Congressional overseers of the TARP program are investigating the lending practices of several of the banks they bailed out in response to complaints that the banks are raising interest rates and fees, the Wall Street Journal reports. Despite receiving billions in taxpayer dollars, Bank of America last week nearly doubled... More »

MORE ABOUT:
Citigroup • Bank of America • loans • credit card • fees • consumer credit • interest rates • Elizabeth Warren

 Brain Drain Wallops Wall Street 

It's not just the firings: others are leaving for safer jobs

Apr 12, 09 3:16 PM CDT
(Newser) - The financial crisis is reshaping not just the landscape of Wall Street, but its face as well, reports the New York Times in a look at the hemorrhaging of the Street's top talent. Layoffs aside, finance's best and brightest—arguably the same daring risk-takers responsible for the recession—are seizing... More »

MORE ABOUT:
Wall Street • Citigroup • Bank of America • Goldman Sachs • Morgan Stanley • Merrill Lynch • banking • banking industry • financial crisis

MARKET Open

 Stocks Slide Ahead of Earnings 


Apr 6, 09 8:57 AM CDT
(Newser) - Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell... More »

MORE ABOUT:
stock market • Citigroup • Bank of America • Dow Jones • IBM • Sun Microsystems • Nasdaq • S&P 500 • JPMorgan Chase

MARKETS

 Dow Rockets Nearly 500 Points 

Geithner's plan wins positive reviews from Street

Mar 23, 09 3:18 PM CDT
(Newser) - Stocks locked in big gains today with the rally sparked by the rollout of the Treasury’s financial rescue plan, the Wall Street Journal reports. Financials led advances, with Citigroup and Bank of America up 24% and 19%, respectively. The Dow jumped 497.48 to 7,775.86. The Nasdaq... More »

MORE ABOUT:
Citigroup • Bank of America • Dow Jones • rally • Nasdaq • Treasury Department • S&P 500 • Timothy Geithner

UPDATED

 Stocks Soar 300+ 
 on Geithner Plan 


Mar 23, 09 8:51 AM CDT
(Newser) - Stocks sprinted out of the gates today, the Wall Street Journal reports, spurred by the Treasury’s long-awaited toxic asset plan. The Dow was up 316 just after noon, while the Nasdaq and S&P 500 added 4.1% and 4.5%, respectively. Banking stocks were the biggest winners, with... More »

MORE ABOUT:
stock market • Citigroup • Bank of America • Dow Jones • stock exchange • Nasdaq • S&P 500 • Timothy Geithner • toxic assets

(Newser) - While credit markets were frozen last year, forcing thousands of Americans out of business, Bank of America lent insiders more than $624 million—more than doubling the amount loaned to insiders the previous year, the Charlotte Observer reports. Recipients' names were not disclosed, but most of the money likely went... More »

MORE ABOUT:
Bank of America • loan • credit market chaos • Wall Street bailout

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