BofA Takes ‘Giant Step’ as Mortgages, Cost Cuts Fuel Profit
The news follows CEO Moynihan's remarks in May that the firm would have to cut costs further in its trading division.
BofA to Pay $16.65 Billion to End U.S. Mortgage Probes
The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, is the harshest penalty yet related to the 2008 financial crisis.
BofA Should Pay $2.1 Billion in Fraud Case, U.S. Says
BofA’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie and Freddie, the U.S. said.
13 Best & Worst Broker-Dealers: Q2 Earnings, 2013
Some large organizations kept up their momentum, while smaller BDs showed both weaker than expected and surprisingly strong results.
JPMorgan, Wells Fargo Beat Estimates for Q2
Though positive, sales growth at the big banks didn't keep pace with profit expansion in the second quarter.
12 Best & Worst Broker-Dealers: Q1 Earnings, 2013
Several large firms are turning around their operations, but others still face performance issues.
12 Best & Worst Broker-Dealers: Q3 Earnings
Earnings fell as much as 88%, but also jumped over 70% within the broker-dealer industry—AdvisorOne spotlights the six best and six worst performers.
JPMorgan, Wells See Big Q3 Profits as Bank Lending Returns
Investors looking for good news found it Friday as JPMorgan and Wells Fargo both reported double-digit profits for the third quarter.
Tougher Rules No Obstacle to Swedish Bank Growth: Regulator
Despite substantially higher reserve requirements than those set by Basel III, Sweden’s banks are doing well and look likely to continue to do so, according to the country’s regulator.
Eurozone Banks Boost Capital by Redefining Risk
Some Eurozone banks are redefining risk in order to meet capital requirements. Many officials and banking experts say the practice is legal but undermines the goal of ensuring the financial institutions are healthy.