Banking industry
The Federal Reserve has given the green light to major US banks to raise dividends and buy back shares, deeming them strong enough to withstand a major economic downturn. However, Bank of America was given conditional approval, while the US divisions of Deutsche Bank and Santander were rejected due to
Banking industry
Bank of America was the sole major U.S. bank to stumble in the second round of annual stress tests, initiated by the Federal Reserve. Despite this, the bank was allowed to submit a revised plan and announce a $4 billion share buyback, contingent upon addressing "weaknesses in certain
Bank of America Corp.
Arlington, VA-based National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger fired back against the American Bankers Association (ABA) over misleading attack ads targeting credit unions. The ABA's false claims have sparked a response from NAFCU, which cited evidence of the high fines and settlement
Bank of America Corp.
As the release of the Comprehensive Capital Analysis and Review results approaches later in March, shares of three of the biggest banks - Goldman Sachs (GS), JPMorgan Chase (JPM), and Citigroup (C) - have risen ahead of the announcement, according to Steve Grasso, director of institutional sales at Stuart Frankel.
Bank of America Corp.
The US Commodity Futures Trading Commission (CFTC) is scrutinizing the involvement of global banks in dividend-arbitrage trades, a strategy that allows hedge funds and other clients to reduce their taxes on dividend payments. According to a report by the Wall Street Journal, the CFTC has sent inquiries to Bank of
Bank of America Corp.
The banking industry has been dealing with multiple regulatory probes in the last five trading days, including investigations by the U.S. Department of Justice and the Commodity Futures Trading Commission into allegations of rigging precious metal markets. Major banks such as JPMorgan Chase & Co., Bank of America Corp.
Banking industry
The U.S. Department of Justice announced today that under its settlements with five of the nation's largest mortgage servicers, 952 service members and their co-borrowers are eligible to receive over $123 million for non-judicial foreclosures that violated the Servicemembers Civil Relief Act (SCRA). The five mortgage servicers
Banking industry
The Justice Department has announced that 952 service members and their co-borrowers are eligible to receive over $123 million in compensation for non-judicial foreclosures that violated the Service Members Civil Relief Act. The settlements with five of the nation's largest mortgage servicers, including JP Morgan Chase, Wells Fargo,
Banking industry
The Federal Reserve's timetable for raising interest rates appears to be accelerating, as economists predicted a stronger-than-expected January jobs report would usher in a new era of sustained job growth. As a result, the KBW Bank Index surged on Friday, with all 24 lenders rising by the end
Banking industry
Investment research company EarningForecast.com has released earnings forecast research for six top stocks: Apple (AAPL), Alibaba (BABA), Stratasys (SSYS), Gilead Sciences (GILD), Cliffs Natural Resources (CLF), and Bank of America (BAC). The reports highlight key performance indicators, industry trends, and competitor analysis for each stock. Investors are encouraged to
Banks (Finance)
ArcBest Corp, a provider of freight transportation services and solutions, saw its price target increased by Deutsche Bank from $40.00 to $46.00 in a research report sent to investors on Thursday morning. The report, which also included updates on several other stocks, comes as ArcBest Corp continues to
Banks (Finance)
Leading US banks, including JPMorgan Chase, Wells Fargo, and Bank of America, are set to report fourth-quarter earnings this week, providing insight into their growth prospects and ability to navigate the near-zero interest-rate environment. Analysts expect modest earnings-per-share gains and revenue increases, driven by growth in credit card units, automobile
