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.
JPMorgan Profit Beats Analysts’ Estimates as Expenses Drop
The bank boosts net income despite a drop in revenue amid sluggish fixed-income trading.
What Firms Claim About Their Brokers’ Fiduciary Duty (and Lack Thereof)
Broker-dealers publicly market themselves as putting their clients first. But when it comes to arbitration cases, they sing a different tune.
Wells' FiNet Indie Advisors Join FSI
Wells Fargo Advisors Financial Network (FiNet) has gifted complimentary FSI memberships to its 1,250 independent financial advisors.
Goldman Profit at 5-Year High as Every Business Tops Estimates
The investment bank turns things around after last quarter's decline in net income.
U.S. Banks Hoard $2 Trillion of Ultra-Safe Bonds
What do America’s banks know about the state of the U.S. economy that has them hoarding Treasuries?
JPMorgan, Wells Fargo, Citi Kick Off Q3 Earnings on Upbeat Note
The first day of third-quarter bank earnings kicked off Tuesday with a triple whammy.
Morgan Stanley Channels Weird Al to Raise Stock Market Forecast
In a report that reads as if Weird Al Yankovic had become a market strategist, Morgan Stanley announces an increase in its 12-month S&P forecast.
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.