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Last updated: 20:30:39 Saturday Oct 17, 2009


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  • Bank of America loses $2.24B as loan losses rise
    CHARLOTTE, N.C. - Bank of America Corp. said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing more evidence that consumers are still struggling to pay their bills.   Activities:Merrill Lynch Sales   2009-10-16

    Judge rejects SEC-BofA deal; Cuomo preps charges
    NEW YORK - A federal judge on Monday rejected a $33 million settlement between the Securities and Exchange Commission and Bank of America Corp., saying the SEC's accusations of inadequate disclosure by the bank over bonuses paid at Merrill Lynch must now go to trial.   Nations:U.S.   Activities:Merrill Lynch Sales   Source:(AP)   2009-09-14

    Risk-taking is back for banks 1 year after crisis
    NEW YORK - A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.   People:Timothy Geithner Vikram Pandit   Activities:Global Financial Crisis   2009-09-13

    Morgan Stanley CEO Mack to be replaced by Gorman
    NEW YORK (Reuters) - Morgan Stanley (MS.N) Chief Executive John Mack is stepping down and will be replaced by retail brokerage head James Gorman, signaling the storied bank is embracing stable businesses after losing big on risky ones.   Source:(Reuters)   2009-09-11

    Report: BofA planning to cut 10 pct of branches
    CHARLOTTE, N.C. - Bank of America Corp.'s CEO Ken Lewis said he is planning to shrink the bank's 6,100-branch network by about 10 percent, The Wall Street Journal reported Tuesday.   Nations:U.S.   People:Ken Lewis   Source:(AP)   2009-07-28

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