Bank of America
You’ve heard of bank robberies, but you probably haven’t heard of anything quite like this.
As big financial institutions like Goldman Sachs and JPMorgan Chase get set to report earnings over the next week, they are under pressure to show investors they can correct mistakes from the financial crisis and still post big profits. While profitable of late, there are worries that the recent run-up in earnings is just masking the problems.
U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They’re helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.
A celebrity musician and activist is scheduled to deliver the keynote address during a special event at Georgetown University Monday evening.
Bank of America is looking to the future with the connection between smart phones and bank accounts by a testing a new techy method of payment.
A draft settlement between the banks and U.S. states has been sent to state officials for review.
Bank of America has agreed to pay $335 million to resolve allegations that its Countrywide unit engaged in a widespread pattern of discrimination against qualified African-American and Hispanic borrowers.