Lananh Nguyen, Author at Providence Business News

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BANK OF AMERICA posted a $4 billion profit in the first quarter of 2020, reflecting a sharp increase in funds set aside for bad loans. AP FILE PHOTO/STEVEN SENNE

Bank of America eyes growth in employee benefits as Morgan Stanley...

Financial Services 02/12/2020

NEW YORK – Bank of America Corp. is seeking to become a one-stop shop for employee benefits. The Charlotte, N.C.-based lender is uniting its offerings...

BANK OF AMERICA CEO Brian Moynihan received $26.5 million in total compensation in 2019. / BLOOMBERG NEWS FILE PHOTO/SIMON DAWSON

BofA leaves CEO’s pay flat at $26.5M after decade at helm

Financial Services 02/07/2020

Bank of America Corp. awarded CEO Brian Moynihan $26.5 million for 2019, unchanged from a record amount a year earlier. Moynihan, 60, received $25 million...

BANK OF AMERICA is expanding its commission-free trade offerings by giving unlimited free stock trades to all customers on its Merrill Edge Self-Directed platform. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA expands free trading to legions of Merrill Edge customers

Financial Services 12/09/2019

NEW YORK – Bank of America Corp. is expanding commission-free trading - again. The lender said it will give unlimited free stock trades to all...

BANK OF AMERICA will give $1,000 in December to eligible employees who earn $100,000 or less annually, while higher-paid staff will receive a stock award next year, as part of a special bonus program that is has also offered in the previous two years. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

Bank of America to pay special bonuses for third year after...

Financial Services 10/29/2019

NEW YORK – Bank of America Corp. plans to pay its employees special bonuses for a third straight year after reporting record earnings in...

BANK OF AMERICA reported a $5.8 billion profit in the third quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA’s deal fees surge in sign of investment-bank turnaround

Financial Services 10/16/2019

NEW YORK – Bank of America Corp. posted the biggest jump in investment-banking fees on Wall Street, helping profit overcome headwinds from lower interest...

Citi warns trading revenue to decline, BofA is ‘doing OK’

Financial Services 09/09/2019

NEW YORK – Citigroup Inc. trading revenue is set to drop this quarter amid volatility that gripped markets for most of August, while a...

BANK OF AMERICA will end a payments joint venture with First Data Corp. next June. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA to end payments joint venture with First Data next June

Financial Services 07/30/2019

NEW YORK – Bank of America Corp. said it will end a payments joint venture with First Data Corp. next June when a contract...

BANK OF AMERICA reported a profit of $7.35 billion in the second quarter of 2019. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA counters trading slump with gains in consumer banking

Financial Services 07/17/2019

NEW YORK – Bank of America Corp.’s consumer bankers extended their winning streak for another three months. Gains in the retail division helped drive overall...