Bank of America

Trump says heads of big four banks among CEOs to advise on economy

04/15/20

Jamie Dimon of JPMorgan Chase, Brian Moynihan of BofA, Michael Corbat of Citi and Charlie Scharf of Wells Fargo are some of the business leaders from multiple industries being asked to help the White House revive the economy as the coronavirus pandemic shows signs of easing in some parts of the country, the president says.

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JPMorgan, Wells brace for impact; Credit Suisse asked to block bonuses

04/15/20

The two U.S. banks set aside a combined $10 billion for future loan losses, which may not even be enough; a proxy firm says the Swiss bank did not adequately punish former executives for spying scandal.

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Bank of America joins rivals in setting aside billions for loan losses

04/15/20

With the coronavirus pandemic bringing economic activity to a virtual standstill, BofA, like Wells Fargo and JPMorgan Chase, is shoring up its reserves to brace for a likely recession.

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BofA defends giving priority to customers in rescue-loan program

04/10/20

Bank of America, which came under fire for prioritizing applications from existing small-business customers, asked a federal judge in Baltimore to reject a request in a lawsuit to temporarily bar it from employing the practice.

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Confusion, inconsistency mar rollout of small-business loan program

04/03/20

Banks, under pressure to act hastily, began taking applications for government aid to small businesses hit hard by the coronavirus outbreak. But narrow eligibility rules at some banks angered business owners and lawmakers.

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BofA offers emergency loans to borrowers first, freezing out depositors

04/03/20

The decision sparked outrage from small-business owners who have checking accounts with the bank but not loans or business credit cards. Bank of America started taking applications Friday for a $349 billion program that's intended to offer aid to small businesses suffering from the shocks of the coronavirus pandemic.

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Banks tighten lending to nervous homeowners hoping to tap equity

04/02/20

The worsening economy brought on by the coronavirus pandemic has big banks rethinking who they will lend to.

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Bank of America lets 50,000 mortgage borrowers skip payments

04/01/20

Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they've lost income as a result of the pandemic.

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Bank of America pledges to retain and pay staff throughout 2020

03/27/20

CEO Brian Moynihan also said in an interview that the bank is helping clients affected by the coronavirus pandemic through increased commercial lending to companies and expanded forbearance for Main Street customers.

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Big banks offer relief to California homeowners affected by COVID-19

03/25/20

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic. Bank of America said it would waive payments for 30 days.

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