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Keyword: bankofamerica

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  • Bank of America’s CEO has one simple reason why he doesn’t see a recession looming

    08/25/2019 7:57:54 PM PDT · by lasereye · 6 replies
    Marketwatch ^ | Aug. 24, 2019 | Mark Decambre
    Bank of America Corp.’s CEO Brian Moynihan says he doesn’t see a recession in the offing because the U.S. consumer remains healthy. . . . “Look, when the yield curve moved around the pundit-ocracy got going, saying, ‘Here, this means a recessions coming,’” Moynihan told CNBC. However, the bank boss said this time the recessionary gauge may be influenced by a global market swirling in some $15 trillion in negative interest rates.
  • Bank of America will no longer do business with companies that run detention centers

    06/27/2019 12:06:18 PM PDT · by Responsibility2nd · 125 replies
    CNN ^ | 06/27/2019 | RobMcLean
    Bank of America will end its association with companies that provide prisoner and immigrant detention services at both the state and federal levels. The move comes amid growing public concern about the nation's border policies. A spokesperson said Wednesday that Bank of America (BAC) has discussed the issue with its clients that provide those services. While the bank appreciates "steps they have taken to properly execute their contractual and humanitarian responsibilities," it ultimately decided to "exit the relationships." "Lacking further legal and policy clarity, and in recognition of the concerns of our employees and stakeholders in the communities we serve,...
  • Bank of America CEO says company wants a ‘cashless society’

    06/21/2019 3:19:27 PM PDT · by Roman_War_Criminal · 125 replies
    Fox Business ^ | 6/20/19 | Kathleen Joyce
    Bank of America Opens a New Window. CEO Brian Moynihan spoke this week about embracing digital payment transactions while moving toward a cashless society. Moynihan made the comments Wednesday during Fortune’s Opens a New Window. Brainstorm Finance conference in New York. The CEO spoke about Zelle, Google Pay and Apple Pay and its increasing popularity. He said Bank of America “will continue to move” toward digital banking transactions. “We want a cashless society,” Moynihan told Fortune’s Shawn Tully. “We have more to gain than anybody from a pure operating costs (perspective).”
  • Louisiana Attorney General Denies $600 Million to Citibank, Bank of America Over Gun Control

    08/16/2018 9:48:58 PM PDT · by RightGeek · 26 replies
    Breitbart ^ | 8/16/2018 | AWR Hawkins
    Louisiana Attorney General Jeff Landry and the state’s Bond Commission denied $600 million to Citibank and Bank of America over the gun control stance adopted by both companies. Citibank and Bank of America were both to be part of a road financing plan in the state, but were omitted from the financial plan after arbitrarily placing new gun controls on banking customers. Louisiana Executive Division press secretary Ruth Wisher told Breitbart News that Landry and State Treasurer John Schroder have been working on the state’s response to corporate gun control “for some time.” Omitting them from the $600 million is...
  • Ashley Judd, Morgan Freeman Sign Letter Demanding Bank of America Revoke Loan to Remington Arms (tr)

    05/12/2018 6:51:16 PM PDT · by EdnaMode · 78 replies
    Breitbart ^ | May 11, 2018 | Aww Hawkins
    Hollywood stars Morgan Freeman, Ashley Judd, and others associated with the No Rifle Association initiative (#NoRA) have signed a letter demanding Bank of America revoke a loan made to Remington Arms. Alyssa Milano tweeted the list of signatories, which included Alec Baldwin, Michael Ian Black, Mia Farrow, Chelsea Handler, Debra Messing, Julianne Moore, Michael Moore, and Rosie O’Donnell, and a page full of others. Signatories also included Parkland gun control activist David Hogg.
  • Bank of America's loan to Remington tests its firearms pledge

    05/07/2018 6:28:46 AM PDT · by Oldeconomybuyer · 13 replies
    Reuters ^ | May 7, 2018 | by Tom Hals, Jessica DiNapoli
    Bank of America Corp is preparing to provide critical financing to Remington Outdoor Co, which makes assault-type rifles, just weeks after the U.S. bank said it would stop financing “military-style” firearms for civilians. The bank is contributing $43.2 million to a $193 million lending package funded by seven banks, according to court documents, which will help put Remington back on stable footing as it emerges from bankruptcy later this month into an uncertain environment for gun makers. The package replaces a similar credit facility the banks committed to providing Remington. Both were agreed in late March, before Bank of America,...
  • SEC Taps Goldman Executive for Enforcement Role

    10/21/2009 10:30:11 AM PDT · by Leisler · 18 replies · 1,209+ views
    WSJ( Americas Paper of Record ) ^ | OCTOBER 16, 2009 | By SARAH N. LYNCH
    WASHINGTON -- The Securities and Exchange Commission tapped Goldman Sachs Group Inc. executive Adam Storch on Friday to serve as the agency's first-ever chief operating officer of the enforcement division. The new hire represents the latest personnel change at the SEC in its effort to improve its operations following its failure to detect Bernard Madoff's massive Ponzi scheme. Enforcement Division Director Robert Khuzami created Mr. Storch's position of managing executive as part of the major re-structuring effort he announced earlier this year. Mr. Storch will oversee division operations that include budget, information technology and administrative services. He will also supervise...
  • Bank of America will no longer lend to companies that make ‘military-style’ weapons

    04/11/2018 5:48:16 AM PDT · by ptsal · 39 replies
    The Washington Times ^ | 04-10-2018 | Victor Morton
    Bank of America officially took sides in America’s gun debate Tuesday, announcing it would no longer make loans to companies that make “military-style” weapons. The second-biggest U.S. bank announced Tuesday that it would drop current loan-customers Vista Outdoors, Remington and Sturm Ruger, and blackball any other manufacturer of assault weapons. Bank of America Vice Chairman Anne Finucanetold Bloomberg TV on Tuesday her bank has told those companies “it’s not our intent to underwrite or finance military-style firearms.” “We have had intense conversations over the last few months,” Ms. Finucane told Bloomberg, a network founded by tycoon and gun-control-financier Michael R....
  • Bank Of America Sponsors Anti-Gun Panel

    03/23/2018 11:07:33 AM PDT · by rktman · 16 replies
    dailycaller.com ^ | 3/23/2018 | Joe Simonson
    Bank of America further solidified its corporate position in favor of gun control after sponsoring an anti-gun discussion hosted by Axios on Friday. Axios co-founder Mike Allen facilitated the talk between activist and Marjory Stoneman Douglas High School student David Hogg and Democratic Sen. Richard Blumenthal of Connecticut. The event, held in Washington, D.C., occurred at 8 a.m. and had no outside sponsors beside BoA. Despite the fact that it was billed as a conversation “on gun safety in America,” there was virtually no disagreement between Hogg and Blumenthal on policy. Allen asked Hogg what “the biggest mistake the media...
  • Citi sets restrictions on gun sales by retail clients

    03/22/2018 11:18:06 AM PDT · by Olog-hai · 24 replies
    Reuters ^ | March 22, 2018 11:55 AM | Ross Kerber, Nikhil Subba
    Citigroup Inc. (C.N) added restrictions on firearms sales for new retail-sector clients, the Wall Street bank said on Thursday, the strongest move to date by a major U.S. lender following last month’s high school shooting in Florida. In an e-mailed statement, Citi said it will require those clients only sell firearms to customers who have passed a background check, restrict sales of firearms for people under 21 years of age, and not sell so-called “bump stocks” or high-capacity magazines. The bank’s new rules come weeks after a shooting at a Florida high school that killed 17 people, the second-deadliest shooting...
  • Bank of America Paying $1000 Tax Cut Bonuses to 145,000 American Workers

    12/22/2017 11:28:33 AM PST · by gubamyster · 25 replies
    Breitbart ^ | 12/22/2017 | JOHN CARNEY
    Bank of America has joined the parade of American companies celebrating tax cuts by giving its employees a special year-end bonus. Brian Moynihan, the bank’s chief executive, sent an email to employees citing the benefits to the company from the lower corporate tax rate. “In the spirit of shared success, we intend to pass some of those benefits along immediately. U.S. employees making up to $150,000 per year in total compensation–around 145,000 teammates–will receive a one-time bonus of $1,000 by year-end,” Moynihan wrote. The bank also said that it expected to invest more in technology and in cities around the...
  • The Obama Administration's Disrespect For The Rule Of Law Hits A New Low

    05/31/2016 11:08:56 AM PDT · by reaganaut1 · 14 replies
    Forbes ^ | May 31, 2016 | George Leef
    The lawlessness of the Obama administration has been astounding. Entire books have been written about President Obama’s notion that he should be and is free to do whatever he wants (such as Lawless by Professor David Bernstein, which I wrote about here). No doubt more will be. One remarkably brazen instance I recently learned about is his administration’s funneling of money from lawsuit settlements into the pockets of left-wing activist groups. It makes you wonder if there is anything this administration won’t try to get away with. Following the collapse of the housing bubble, the federal government initiated several grandstanding,...
  • Is America starting to tire of Trump assassination porn?

    06/12/2017 1:10:32 PM PDT · by 2ndDivisionVet · 20 replies
    Hot Air ^ | June 12, 2017 | Jazz Shaw and The Associated Press
    Remember how well Kathy Griffin’s little “prank” where she symbolically decapitated the President went over? Oh, man. What a hoot. She’s a real cut-up, isn’t she? (Er… sorry.) Rather than being embraced by the Left in a unified block, nearly everyone turned on her and declared that we didn’t need that sort of thing in our national discussion. Even CNN cut her loose, and corporate sponsors quickly moved away from any projects with her name associated with it. Well now we may have the next example of this phenomenon. A performing arts group known as The Public Theater, based in...
  • Delta, Bank of America drop sponsorship of Shakespeare in The Park That Shows Trump Assassination

    06/12/2017 6:45:45 AM PDT · by Enlightened1 · 21 replies
    NY Daily News ^ | 06/12/17 | Kate Feldman
    Delta Airlines and Bank of America pulled out of their sponsorship of New York’s Public Theater on Sunday over a production of “Julius Caesar” that re imagines the main character as President Trump. Shortly after Delta, who was a four-year sponsor, made its announcement, Bank of America yanked its support as well. The Shakespeare in the Park play tells the story of the leader assassinated by Roman senators over the fear that he’s becoming too tyrannical, but rather than the original setting, the production stages Caesar (Gregg Henry) and his wife, Calpurnia, (Tina Benko) with Donald and Melania Trump lookalikes....
  • bank of america atm keeps check, but later debits deposit

    05/30/2017 6:16:23 PM PDT · by SteveH · 59 replies
    me | 5/30/2017 | me
    i have electronic banking with bank of america. a few days ago i deposited a tax refund check using atm, since b of a deducts a hefty fee for any face to face electronic checking account transactions. today i got a notice in the mail that my deposit was debited because my spouse was also on the check but not on my account, even though it was countersigned. along with the notice i got a copy of the check but not the check itself. what are my rights? i feel like reporting it as a robbery to the local police.
  • Bank of America beats, has record quarter in investment banking

    04/18/2017 4:21:56 AM PDT · by RoosterRedux · 6 replies
    businessinsider.com ^ | Matt Turner
    Bank of America delivered earnings per share of $0.41 on revenue of $22.2 billion in the first three months of 2017. That's ahead of analyst expectations. Bank of America had been expected to report earnings per share of $0.35 on revenue of $21.65 billion, according to Bloomberg. The better-than-expected performance was built on an increase in net interest income, with the bank reporting an increase in loans and deposits, and a strong performance in the investment bank. "Each of our businesses reported higher revenue and earnings this quarter, and each recorded solid operating leverage," Paul Donofrio, chief financial officer, said...
  • Crash Pilot's Osama Note

    01/06/2002 5:45:11 PM PST · by Bad~Rodeo · 83 replies · 322+ views
    The lone 15-year-old pilot who stole a small private plane and crashed it into a high-rise office block in Tampa, Florida, left a note expressing sympathy to Osama bin Laden. Tampa Police Chief Bennie Holder said the note was found on the body of Charles Bishop, who was the only person killed in Saturday's incident. "I would characterize it as a suicide note," Holder said.. He said Bishop's note clearly stated that he had acted alone without any help from anyone else. "Troubled Young Man" But Holder said that in the note Bishop expressed sympathy for bin Laden, the Saudi-born ...
  • Why Trump may be costing Democrats millions for their convention

    04/18/2016 8:56:00 AM PDT · by Trumpinator · 15 replies
    politico.com ^ | 04/18/16 05:34 AM EDT | Anna Palmer and Brianna Gurciullo
    Why Trump may be costing Democrats millions for their convention The GOP is struggling to raise cash from corporate donors, and now Democrats are feeling the pinch. By Anna Palmer and Brianna Gurciullo 04/18/16 05:34 AM EDT Republicans have been struggling for months in the shadow of Donald Trump to get corporate sponsors to pony up for their convention. Now Democratic fundraisers are feeling their pain, too. Several Fortune 500 companies — including Bank of America, Duke Energy and Time Warner —are taking a pass on chipping in for the Democratic convention in Philadelphia or, with just 100 days to...
  • Toxic oil loans create trouble for big banks

    04/14/2016 9:45:02 AM PDT · by PAR35 · 7 replies
    CNN ^ | April 14, 2016: 11:55 AM ET | Matt Egan
    ... Bank of America (BAC) on Thursday announced it set aside $997 million to protect from loan losses, mainly in the bank's $22 billion energy portfolio. Wells Fargo (WFC) warned of "significant stress" and "deterioration" in the oil and gas space. The problems there forced Wells Fargo to add $200 million in loan-loss reserves, its first increase to this rainy-day fund since 2009. And JPMorgan Chase increased its provisions for credit losses by 88%, mostly due to the oil, natural gas and pipeline business. It was enough to cause JPMorgan's (JPM) first drop in profits since late 2014. ...
  • Miserable Year for Banks: Stocks Suffer as Rates Stay Low

    04/12/2016 7:31:46 AM PDT · by Lorianne · 5 replies
    Wall Street Journal ^ | 10 April 2016 | Aaron Kuriloff, Riva Gold
    Financial shares are down sharply in 2016 even as broader markets have recovered; central-bank policies squeeze interest margins --- Bank stocks are having a terrible 2016, as central-bank policies, which for years lifted asset prices, are hurting the financial sector. The impact of economic stimulus efforts on lenders will get a fresh airing this week, as big U.S. banks begin reporting their earnings for the first quarter. Trading revenue is expected to have taken a hit, but the more enduring problem will be visible in the lenders’ net interest margins, the basic measure of bank profitability that gets flattened by...