Moynihan Tightens BofA Grip as Friction Said to Spur Shakeup
Bank of America CEO Brian Moynihan named the fourth finance chief of his tenure in a broad shakeup as he seeks to reverse shrinking revenue.
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 Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
Morgan Stanley Sued for Targeting Black Homeowners
According to the ACLU, who filed the lawsuit, the case is the first to link racial discrimination to mortgage-backed securities.
Bank of America in $335 Million Settlement Over Countrywide Loans
The DOJ says it's the largest settlement in history over residential fair lending practices.