Brian T. Moynihan News
Bank of America profits jump, helped by interest rates
Bank of America's first quarter profits grew nearly 40 percent, helped by higher interest rates as well as a strong performance in its investment banking division
The Couple Who Beat the Bank Over Robocalls
And an epic vikt little for the American consumer. How many of you at home have received one of those calls, those robo-calls? In this case, banks calling you nonstop, demanding you pay up. Tonight, the story of one family begging, saying, enough is enough. And now a federal judge ordering bank of
Bank of America (BAC) Makes Whopping Mortgage Settlement
Morning Money Memo: Today’s Bank of America settlement with the federal government is a record. The nearly $17 billion deal resolves an investigation into allegations the bank misled purchasers of mortgage-backed securities before the 2008 financial crisis. The settlement is the largest ever ...
Is Shutdown The New Normal?
By MICHAEL FALCONE (@michaelpfalcone) NOTABLES NO END IN SIGHT: President Obama and leaders of both houses of Congress left a 90-minute meeting at the White House last night no more closer to ending a government shutdown then when the started, ABC’s ABBY PHILLIP notes....
Goldman Sachs CEO Urges Congress Not To Use Debt Ceiling as a 'Cudgel'
Emerging from a White House meeting with President Obama, Goldman Sachs CEO Lloyd Blankfein urged lawmakers not to use the threat of default to achieve political gains and warned that failure to raise the debt ceiling would have “extremely adverse” consequences. “You can re-litigate these...
Morgan Stanley CEO James Gorman Says Banking Industry is 'Overpaid'
Morgan Stanley CEO James Gorman has folks in the banking sector buzzing with his comments that the industry is "still overpaid." "There's way too much capacity and compensation is way too high," Gorman told the Financial Times . "As a shareholder I'm sort of sympathetic to the shareholder view that
CEO Pay Boost - Morning Business Memo
How much is too much? Bank of America gave its CEO Brian Moynihan a pay package worth $7.5 million last year, six times as large as the year before. It happened while the company’s stock lost more than half its value and the bank lost...
Obama Pitches Economic Agenda To Business Leaders
President Obama pitched his economic agenda to some of the nation’s most high-powered CEOs Tuesday night, touting his proposals to boost job creation and calling for tax reform to aid the economic recovery. “The economy is getting stronger, and the recovery is speeding up. And...
Bank of America Declared Live Customer Dead for 3 Years?
Arthur Livingston, of Prosperity, S.C., may feel prosperous and alive, but his credit report says, "File not scored because subject is deceased." That's because Livingston's bank, Bank of America, has been reporting him as deceased to the three major credit agencies since May 2009, he said. Bank of
Goldman's Blankfein Will Get Smaller Bonus
Goldman Sachs CEO Lloyd Blankfein's bonus will be cut to $7 million this year from $12.6 million the year before, according to Equilar, an executive compensation data firm. Goldman's heaviest hitters, as as group, will see their bonuses reduced by almost half. They are but the most recent group of