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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...

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

NEW YORK – Bank of America Corp. posted the biggest jump in investment-banking fees on Wall Street, helping profit overcome headwinds from lower interest...
BANK OF AMERICA CEO Brian Moynihan said that recession risks are low in the U.S. as consumer spending remains strong but noted that fear of a recession could impact the economy. / BLOOMBERG NEWS/SIMON DAWSON

BofA’s CEO says the biggest recession risk is the fear of...

NEW YORK – Bank of America Corp. CEO Brian Moynihan said this week’s bond-market turmoil has been driven by issues outside the United States,...
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

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...
BANK OF AMERICA reported a profit of $7.31 billion in the first quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI/GETTY IMAGES

BofA posts record profit as higher rates fuel consumer unit

NEW YORK - Bank of America Corp.’s consumer bankers outdid their colleagues in trading for the second quarter in a row as the company...

Better Markets report criticizes megabanks for misdeeds

PROVIDENCE – While CEOs of the nation’s biggest banks appeared before Congress last week in hopes of making a case that regulatory reforms since...
BANK OF AMERICA CORP. plans to raise its minimum wage to $20 an hour over two years. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA to increase minimum wage to $20 an hour over two...

NEW YORK - Bank of America Corp., the second-biggest U.S. lender, plans to raise its minimum wage to $20 an hour over two years. The...
BRIAN MOYNIHAN received $25 million in stock grants and a $1.5 million salary in 2018. / BLOOMBERG NEWS/SIMON DAWSON

BofA boosts Moynihan’s pay to record $26.5M for last year

NEW YORK - Bank of America Corp. awarded CEO Brian Moynihan a record $26.5 million for 2018, a 15 percent increase from a year earlier. Moynihan,...
BANK OF AMERICA Corp. CEO Brian Moynihan predicted another round of consolidation in the U.S. that could lead to the emergence of a new competitor, speaking on a panel at the World Economic Forum in Davos, Switzerland. / BLOOMBERG NEWS FILE PHOTO/JASON ALDEN

BofA’s Moynihan predicts another round of U.S. bank mergers

NEW YORK - Bank of America Corp. CEO Brian Moynihan predicted another round of consolidation in the United States that could lead to the emergence...
BANK OF AMERICA reported a net income of $7.3 billion. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA’s retail bankers save day for beleaguered bond traders

NEW YORK - Bank of America Corp.’s consumer bankers saved the day for their bond-trading colleagues. The company’s retail-banking business saw a 5 percent jump...
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