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Tax reform boosts profits in banking industry

You might say 2018 was the year of Trump in banking. It’s debatable whether President Donald Trump is accomplishing his campaign promise to make...
BANK OF AMERICA reported a net of Net income of $7.2 billion in the third quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

Bank of America’s lending business gets jolt off higher rates

NEW YORK - Bank of America Corp. got another boost from rising interest rates in the third quarter.The firm’s lending business produced the most...

Bank of America sued for allowing $102M Ponzi scheme

NEW YORK - Bank of America Corp. was accused in a lawsuit of providing more than 100 accounts used to perpetrate what the U.S. regulators...
THE FEDERAL RESERVE'S bank stress test assumed tougher economic conditions than 2017 for its "severely adverse scenario." / BLOOMBERG

Goldman, Morgan Stanley say test scores may not curb payouts

NEW YORK - Goldman Sachs Group Inc. and Morgan Stanley are imploring investors not to get spooked.The investment banks had the two lowest capital...
BANK OF AMERICA considering whether to reverse a decision it made two years ago to remove broker commissions from Merrill Lynch retirement accounts. The move comes after the fiduciary rule was struck down in March by a U.S. appeals court. / BLOOMBERG FILE PHOTO/DAVIS TURNER

BofA weighs allowing commissions on Merrill retirement accounts

NEW YORK - Bank of America Corp., faced with a lighter regulatory climate in the Trump era, is considering whether to reverse a decision it...
BANK OF AMERICA posted a $2.37 billion net income for the fourth quarter. / BLOOMBERG FILE PHOTO/DAVIS TURNER

BofA has ways to go to hit $53B cost target this...

NEW YORK - Bank of America Corp. once excited investors by pledging steep cost cuts by the end of this year. It still has a...
BANK OF AMERICA has applied for or received at least 43 patents for blockchain. / BLOOMBERG FILE PHOTO/RON ANTONELLI/GETTY IMAGES

BofA tops IBM and payments firms with most blockchain patents

NEW YORK -  Bank of America Corp. may not be willing to help customers invest in bitcoin, but that doesn’t mean it isn’t plowing into...
BANK OF AMERICA ESTIMATES THAT the supply of investment-grade bonds may reduce by as much as 17 percent next year due to changes proposed in the new tax bill. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Debt-hungry pensions seen having fewer bonds under tax bill

NEW YORK - The tax overhaul may cause a snag for debt-hungry pension funds.Now being refined by the House and Senate, the legislation will likely...
BANK OF AMERICA CORP. posted its highest net income in six years. / BLOOMBERG FILE PHOTO/RON ANTONELLI

BofA profit best in six years as rising rates lift revenue...

NEW YORK - Brian Moynihan’s efforts to boost Bank of America Corp. profit through cost cutting finally got some help from interest rates.  The lender...
THE SIX BIGGEST U.S. BANKS are poised to make a combined $27 billion of gross profit if the government shifts to changes to post-crisis banking rules proposed by Donald Trump’s administration. / BLOOMBERG

Big U.S. banks could see profit jump 20% with deregulation

NEW YORK -  The deregulation winds blowing through Washington could add $27 billion of gross profit at the six largest U.S. banks, lifting their...
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