Depending on the asset class, about 11% to 18% of earnings per share came from tax savings. The looming question is how do they top themselves in 2019 when tax rates don’t change like they did this year.
The bank had numerous warnings that there could be severe regulatory consequences related to deceptively advertised add-on products. It is paying the price for failing to do more in response.
The bank announced plans to open 100 to 125 branches in fast-growing cities across the Southeast, and will close an equal number in the Midwest. In a way, it's finishing a plan it cooked up nearly two decades ago.
The Minneapolis company plans to expand to new retail markets through a digital platform, but it’s facing questions about how it will distinguish itself from peers.
The Minnesota company's profits rose by double digits despite some challenges in the second quarter, and its CEO says it will be expanding its digital offerings to simplify banking for customers.
The appointment of David Solomon, who will take over for retiring CEO Lloyd Blankfein, has not altered the bank's aggressive plan to build a mobile phone-based bank for consumers in the U.S. and beyond.
Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.
