Tony Plath News
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Wells Fargo & Co. is betting its securities business can thrive 600 miles from New York in the same city Bank of America Corp.’s traders largely abandoned.
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Bank of America Corp. has amassed $64 billion of mortgages that are at least six months delinquent and have yet to enter foreclosure, more than twice the amount held by its four largest competitors combined.
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Bank of America Corp. , the largest U.S. bank by assets, earned $6.3 billion from its global banking and markets division last year, giving that business almost double the annual profit of any other segment.
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Bank of America Corp. Chief Executive Officer Brian T. Moynihan told shareholders today the lender is still straining to curtail bad mortgages in a housing market that faces “enormous challenges.”
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It’s getting tougher for U.S. savers to find a bank where they won’t end up paying to keep their money safe.
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Lucie Shell, an 84-year-old retired secretary in Crewe, Virginia, uses the rewards she earns by swiping her debit card for gift certificates for family.
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Investors barely blinked yesterday when Brian T. Moynihan wrapped up his first year leading Bank of America Corp. by announcing more writedowns and a second straight quarterly loss. They may not be so forgiving for 2011.
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At Bank of America Corp. , where the company’s home-price forecasts have proved too good to be true, billions of dollars of new losses are at stake along with the credibility of Chief Executive Officer Brian T. Moynihan .
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Bank of America Corp. , the biggest U.S. lender by assets, almost doubled a goodwill impairment for its credit-card unit to $20.3 billion to reflect increased defaults and an almost two-year-old change in rules.
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Bank of America Corp., the largest U.S. lender, posted its worst two-day decline since 2009 after telling investors that claims from Fannie Mae and Freddie Mac may cost more than previously forecast.
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