Bank of America Corp., the second- biggest U.S. lender, is following a “disciplined” strategy to rebuild, Chief Executive Officer Brian T. Moynihan said today as protests swirled inside and outside the firm’s annual meeting.
A federal judge said he needs more information on the basis for Bank of America Corp.’s $33 million settlement of a lawsuit filed by the U.S. Securities and Exchange Commission before he can approve it.
Boston Properties Inc. agreed to buy Bank of America Corp.’s skyscraper at 100 Federal St. in Boston for $615 million, which would add to a portfolio that already includes the city’s Hancock Tower and Prudential Center.
New York City Comptroller John C. Liu, who oversees $113.7 billion in city pension funds, renewed his request that three of the biggest U.S. banks conduct independent audits of their mortgage and foreclosure practices.
JPMorgan Chase & Co. and Wells Fargo & Co. increased dividends and authorized share buybacks after the Federal Reserve reviewed the ability of the largest U.S. lenders to withstand another economic slump. Bank stocks rallied in New York trading.
Bank of America Corp. Chief Executive Officer Brian T. Moynihan said efforts to prevent foreclosures are failing frequently, with more than half of borrowers in some categories defaulting a second time.
Los Angeles police evicted protesters camped in hundreds of tents around City Hall, ending almost two months of occupation and detaining about 300 people, while a similar operation in Philadelphia led to 52 arrests.
Gary Lynch , the former Securities and Exchange Commission enforcement head who later helped Morgan Stanley and Credit Suisse AG tackle legal disputes, is looking to repeat his success at the biggest U.S. bank.