The bank is providing Merrill Edge's do-it-yourself clients with more automated stock and portfolio research, but it plans to hire more financial representatives for those who want in-person advice in branches.
Many of the industry’s top executives — at big and regional banks alike — enjoy premium perks, including personal travel on corporate aircraft and minimal wait times for fancy medical exams. Here’s an overview of the special items disclosed to investors so far this year.
Bank of America is offloading some margin loans after losing $292 million on soured credit to the former chairman of Steinhoff International Holdings, according to people with knowledge of the matter.
Three unnamed "senior" employees helped the SEC win a $415 million settlement from the bank; Sherborne Investors takes a 5.2% stake in the British bank.
Online banks and some credit unions are responding to Fed rate hikes by aggressively raising deposit rates on CDs, savings accounts and money market products, while the nation's biggest banks are largely standing pat — for now.
