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Goldman Sachs Maintains Buy on Bank of America Corporation (BAC)
Thursday, March 24, 2011 - 7:28amGoldman Sachs is out with its report today on Bank of America Corporation (NYSE: BAC), maintaining Buy. In a note to clients, Goldman Sachs writes, "We maintain our Buy rating, as the inability to return capital is a disappointing sign, but we didn't view capital returns as a big driver for...
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Brian Moynihan Talks Dividends, Growth, Capital And More (BAC)
Tuesday, March 8, 2011 - 5:51pm
Brian Moynihan, CEO of Bank of America Corporation (NYSE: BAC), spoke to CNBC this afternoon about the possibility of a dividend in 2011. Though nothing has been finalized yet, Moynihan said that the dividend would not occur until the second half of the year. And if the company does announce a...
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KBW Lowers BAC 4Q10 EPS Estimates To $0.04
Tuesday, January 4, 2011 - 9:30amBank of America Corporation (NYSE: BAC) announced two GSE settlements for a total of $2.8bil, driving a 4Q10 rep-and-warranty provision of $3.0bil ($0.20/shr) relating to just GSE, KBW reports. “BAC will also record a $2.0bil ($0.20/shr) goodwill impairment in 4Q10,” KBW writes. “We're lowering our...
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Banks May Lose Student Loan Business (BAC) (C) (JPM)
Wednesday, March 24, 2010 - 8:18am
If legislation being debated in Congress passes, banks might be kicked out of the $70 billion per year student lending business. If the measure passes, private banks like Bank of America Corporation (NYSE: BAC), Citigroup, Inc. (NYSE: C) and JP Morgan Chase & Co. (NYSE: JPM) would no longer...
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Jeffries & Company Issues Opinion On "Truth in Lending Act"
Thursday, March 4, 2010 - 10:06amJeffries & Company analysts Richard B. Shane Jr., Jonathan M. Philpot and Roman Leal wrote an opinion on the "Truth in Lending Act". They said that the proposal balances protecting consumers with credit card issuer's profitability. They were initially concerned that because of the current...
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Countrywide Financial Mailing Settlement Checks (BAC)
Monday, February 15, 2010 - 9:22pmFormer Countrywide Financial customers in Florida will get settlement checks as part of the settlement of a lawsuit filed in 2008. The attorney general of Florida sued Countrywide Financial, alleging that Countrywide was involved in deceptive and unfair trade practices by allowing borrowers to take...
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Financial Stocks Fall (C) (JPM) (AXP) (BAC)
Monday, February 8, 2010 - 5:57pmShare prices of financial stocks took a beating on Monday as fears about interest rate policy and the condition of the global economy took their toll on investor confidence. Financial firms across the board had down days with firms like Citigroup, Inc. (NYSE: C) falling over 2%, JPMorgan Chase...
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Bank of America (BAC) Agrees To Pay $150 Million To Settle SEC Charges
Thursday, February 4, 2010 - 12:40pmBank of America Corporation (NYSE: BAC) and the Securities and Exchange Commission are in the process of reaching a settlement relating to charges that the bank did not properly disclose billions in dollars of employee bonuses and financial losses at Merrill Lynch before the two banking giants'...
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Bank of America Corporation (BAC) To Pay $4 Billion In Bonuses
Wednesday, February 3, 2010 - 4:52pmEmployees of Bank of America Corporation's (NYSE: BAC) investment bank and Global Markets unit are set to receive over 4$ billion in bonus pay for 2009, according to a person familiar with the situation. Financial institutions such as Bank of America, JPMorgan Chase & Co. (NYSE: JPM), American...
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Bank Of America Increases Foreclosure Prevention Efforts
Tuesday, January 26, 2010 - 8:22pmBank of America Corporation (NYSE: BAC), the country's largest mortgage lender, announced on Tuesday that it would be the first lender to agree to lower or eliminate payments on second mortgages. The Second Lien Modification Program is a federal initiative that pays incentives to second mortgage...
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