Bank of America revenue drops, legal settlement stings
(Reuters) - Bank of America Corp's revenue fell across almost all its businesses in the first quarter, and the bank was hit yet again by mortgage mess cleanup costs, showing...
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BofA spinoff raises $735 million private equity fund
CHARLOTTE, North Carolina (Reuters) - A private equity firm spun off from Bank of America Corp in 2010 has raised its first fund, allowing it to continue making investments in...
Exclusive: BofA’s Moynihan to hold stock longer in new pay policy
BOSTON/CHARLOTTE (Reuters) - Bank of America Corp Chief Executive Brian Moynihan will need to hold shares likely worth millions of dollars for at least a year after he retires, under...
Ally once again duels with the Fed over stress tests
(Reuters) - Ally Financial Inc stepped up its defense against the Federal Reserve on Friday, after the central bank singled out the auto lender as the weakest of 18 major...
Major U.S. banks pass Fed’s health test
(Reuters) - The biggest U.S. banks have enough capital to withstand a severe economic downturn, the Federal Reserve said on Thursday, with all but one passing the annual health check...
Berkshire on hunt for more Heinz-like deals: Buffett
(Reuters) - Berkshire Hathaway Inc is on the hunt for more deals similar to its planned purchase of H.J. Heinz Co , Warren Buffett, the conglomerate's chief executive, said on...
BofA’s Moynihan gets 73 percent pay increase in 2012
(Reuters) - Bank of America Corp's CEO Brian Moynihan was awarded a 73 percent pay increase in 2012, when the institution resolved crisis-era lawsuits and its stock was one of...
Citi could release reserves in Citi Holdings unit soon: CFO
(Reuters) - Citigroup Inc plans to dip into funds that it set aside against bad mortgages in its Citi Holdings unit "sooner rather than later," Chief Financial Officer John Gerspach...
U.S. Treasury in no rush to exit Ally Financial stake: source
(Reuters) - The U.S. Treasury, under pressure to quickly wind down its crisis-era bailouts, believes it will take time to shed auto lender Ally Financial because the company's mortgage lending...
Fed still gauging extent of hacker breach, FBI on case
Feb 7 (Reuters) - The U.S. Federal Reserve said on Thursday it was still working to determine the extent its computer systems had been breached by hackers, adding that the...