Fund managers worry systemic credit crunch could crash US markets
A Bank of America survey of fund managers shows that the threat of a systemic credit crunch is the newest threat to the market after two bank failures.
Big bank CEOs gather for long-planned meeting amid crisis
The leaders of major U.S. banks, including JPMorgan's Jamie Dimon and Bank of America's Brian Moynihan, are meeting this week for a regular quarterly gathering amid a banking crisis.
How First Republic rescue, Silicon Valley Bank could cost Main Street America
In wake of recent issues with First Republic and Silicon Valley Bank, community bank leaders tell FOX Business that sharing the financial burden with larger institutions is unfair.
Bank of America totaled $1.2 billion in penalties, settlements in 2022
Bank of America recorded $1.2 billion in fines, settlements and expenses in 2022, topping the costs paid the previous two years.
Bank of America 'still forecasting' 2023 recession: Fed action 'not enough,' exec warns
Bank of America Vice Chairman Keith Banks warns as the economy slows and margins get squeezed, costs will grow faster than revenues.
Banks plan payment wallet to compete with PayPal, Apple Pay
One goal of the new service is to compete with third-party wallet operators such as PayPal Holdings Inc. and Apple Inc.’s Apple Pay, according to people familiar with the matter.
Bank of America's Brian Moynihan warns against 'wealth effect' that could feel like 2007-08
Bank of America Chairman and CEO Brian Moynihan discusses how a mild recession could impact housing, labor and energy sectors from the World Economic Forum.
Bank of America customers report 'disappeared' money from accounts after Zelle issue
After a flurry of complaints about missing funds on social media, Bank of America said "there was a delay in posting Zelle transactions" that has now been resolved.
Goldman Sachs shares sink after brutal quarter
Investors are selling shares of Goldman Sachs after the bank reported a drop in quarterly profits.
Bank of America CEO sees 'mild recession' in 2023 and is preparing for worse
The U.S. economy is likely headed for a recession in 2023, according to Bank of America CEO Brian Moynihan, who is preparing for a mild downturn this year.
Bank earnings beat expectations despite ‘headwinds’, JPMorgan CEO ‘prepared for whatever happens’
JPMorgan Chase, Citibank, Wells Fargo, and Bank of America earnings reports on Friday beat expectations
US banks get ready for shrinking profits and recession
Rising prices and higher borrowing costs have led consumers and businesses to curb spending, and since banks serve as economic middlemen, their profits decline when activity slows.
Brian Moynihan added to short list to replace Yellen at Treasury
As rumors spread about Secretary of the Treasury Janet Yellen's departure, Brain Moynihan, the CEO of Bank of America is considered a potential replacement.
Top Wall Street CEOs amplify recession warnings as bets of dismal 2023 swell
The CEOs of Goldman Sachs, JPMorgan Chase and Bank of America warned of an ugly outlook for the economy in 2023, raising the specter of a recession next year.
Bank of America CEO predicts 'shallow' recession: US consumer is 'resilient'
Bank of America CEO Brian Moynihan said that a "shallow" recession was likely coming in 2023, despite other bank executives warning about high inflation.
Stock market could plunge another 24% next year, Bank of America warns
Bank of America analysts said this week the S&P 500 could plunge as much as 24% next year as a result of the Federal Reserve's quantitative tightening.
Washington Commanders 'engaged in financial improprieties,' US attorney's office investigating: report
The Washington Commanders are under another investigation as they are reportedly engaged in "financial improprieties" that owner Dan Snyder was aware about.
Bank of America profit drops on loan-loss reserve build
The second-largest U.S. bank, led by Brian Moynihan, earned 81 cents a share vs. analysts' expectations of 77 cents per share in the third quarter of the year.
Mortgage rates could soon top 7% as Fed fights inflation
The Federal Reserve's fight against inflation and a housing shortage could send mortgage rates soaring above 7%, according to Bank of America economists.
Bank of America report: Nearly two-thirds of employees worried about finances
Nearly two-thirds of employees are worried about their finances amid scorching hot inflation, according to a recent report released by Bank of America.