Mnuchin hopes to strike a deal soon to recapitalize the two mortgage giants, a prelude to privatization; the bank’s focus on mid-tier corporations is starting to bear fruit.
Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders.
Bank of America is building up its teams focused on the world's wealthiest family offices, buyout firms and sovereign wealth funds to take advantage of a surge in dealmaking.
Bank of America has joined the likes of Walmart and Mastercard in seeking patents for blockchain technology that could be used for a digital currency or mobile wallet.
Bank of America’s customers spent $1.9 trillion this year through Aug. 12, an increase of 5.9% from a year earlier — a sign that the economy, driven by the consumer, remains strong, Brian Moynihan said.
The Cincinnati regional bank says it will spend an extra $15 million a year to offer more competitive pay that it hopes will attract talented front-line employees.
China's decision to stop buying U.S. soybeans and let its currency depreciate raised the prospect of further interest rate cuts. That hurt banks slightly more than the rest of the market on what was a bad day for all equities.
