News Topic: Bank of America

Bank of America said it will end a payments joint venture with First Data next June when a contract between the two companies expires. ... Read full article

The conglomerate run by Warren Buffett has tried in the past to keep its holdings below the 10% threshold in order to avoid heightened regulatory scrutiny. ... Read full article

Jewelry maker Alex and Ani LLC demanded $1.1 billion in damages from Bank of America in a lawsuit alleging lending discrimination against a women-led company that was once featured in advertisements promoting the bank's commitment to diversity. ... Read full article

The eight "systemically important" banks currently file resolution plans annually, but a pending proposal would require them every two years. ... Read full article

The bank is siding with a growing list of groups, including the U.S. trustee, attorneys general from several states and consumers, who object to Ditech's plan to sell its reverse mortgage business. ... Read full article

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins. ... Read full article

Gains in the retail division helped drive overall profit to a record for a fifth consecutive quarter as mortgage activity surged and provisions for bad loans posted a surprise drop from the first quarter. ... Read full article

Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition. ... Read full article

The offering would mirror a similar move by Charles Schwab to offering clients a new pricing plan for its robo service. ... Read full article

The interim CEO told analysts Tuesday that the company remains committed to hiring an outsider who isn't connected to its scandals of recent years. ... Read full article

Other executives are being considered, too, but the list is dwindling as JPMorgan’s Gordon Smith and other big names are said to be out of the running. Meanwhile, senior Wells executives have pushed to keep interim CEO Allen Parker. ... Read full article

Some large banks, including Bank of America and JPMorgan Chase, will increase dividends and stock repurchases by double digits. ... Read full article

The results clear the way for bigger dividends and stock buybacks at big banks; State Street agreed to pay $88 million to settle claims it overcharged clients. ... Read full article

In a year where most of the 18 institutions taking the second round of the Federal Reserve's stress tests showed improvements over last year, JPMorgan Chase and Capital One were both forced to adjust their capital plans in order to meet the central ... Read full article

By creating a close tie between digital debit cards and the major third-party mobile wallets, Bank of America is doing something few banks are — and expecting a payoff in broader use of digital financial services and “top of wallet” spending. ... Read full article

The decision follows similar moves by rivals JPMorgan Chase and Wells Fargo. ... Read full article

"We're going right at Bank of America, folks, in Charlotte, their hometown," JPMorgan Chase CEO Jamie Dimon said to cheers and laughter at a branch opening in midtown Manhattan. "We've been waiting a long time to start the ... Read full article

Brad Goedken wants agreements for HarborOne Bancorp to include better protections, such as cost reductions if a service fails. ... Read full article