Big stock rally could be followed by 'big collapse': Bank of America
Bank of America analysts said the stock market has a lot in common with the run-up to recent collapses in 2000 and 2008 and faces further losses this year.
Yellen meeting with Bank of America, JPMorgan, Citi CEOs Thursday: report
Treasury Secretary Janet Yellen will reportedly meet with the CEOs of Bank of America, Citigroup, JPMorgan and other big banks amid debt ceiling threat and bank crisis.
JPMorgan buys First Republic: Bank shares rise as deal reached
Shares of the major U.S. banks are in the green after JPMorgan Chase announced that it would pay $10.6 billion to the FDIC to buy most of First Republic Bank's assets.
PNC has inside track on bids for embattled First Republic Bank: report
PNC Financial Services is on the inside track of bidding on First Republic Bank, as the bidding deadline looms and the struggling bank's stock were free-fall earlier this month
Bank of America CEO: 'Everything' points to a recession this year
Bank of America CEO Brian Moynihan said during the bank's quarterly earnings call that a "mild" recession is likely to hit the economy later this year.
Bank of America profit rises as it cashes in on higher interest rates
Bank of America's net interest income, which reflects how much money the bank makes from charging interest to customers, rose 25% to $14.4 billion in the quarter.
Bank of America clients withdraw $2.3B from US securities
A note from bank strategist Jill Carey Hall says Bank of America clients sold roughly $2.3 billion in U.S. equities last week.
Banking crisis may lead to recession: Fannie Mae
Following recent banking closures, Fannie Mae predicts a recession will take place in the second half of 2023. Meanwhile, Americans continue dealing with an uncertain interest rate environment and high inflation.
Fund managers worry systemic credit crunch could crash US markets
A Bank of America survey of fund managers shows that the threat of a systemic credit crunch is the newest threat to the market after two bank failures.
Big bank CEOs gather for long-planned meeting amid crisis
The leaders of major U.S. banks, including JPMorgan's Jamie Dimon and Bank of America's Brian Moynihan, are meeting this week for a regular quarterly gathering amid a banking crisis.
How First Republic rescue, Silicon Valley Bank could cost Main Street America
In wake of recent issues with First Republic and Silicon Valley Bank, community bank leaders tell FOX Business that sharing the financial burden with larger institutions is unfair.
Bank of America totaled $1.2 billion in penalties, settlements in 2022
Bank of America recorded $1.2 billion in fines, settlements and expenses in 2022, topping the costs paid the previous two years.
Bank of America 'still forecasting' 2023 recession: Fed action 'not enough,' exec warns
Bank of America Vice Chairman Keith Banks warns as the economy slows and margins get squeezed, costs will grow faster than revenues.
Banks plan payment wallet to compete with PayPal, Apple Pay
One goal of the new service is to compete with third-party wallet operators such as PayPal Holdings Inc. and Apple Inc.’s Apple Pay, according to people familiar with the matter.
Bank of America's Brian Moynihan warns against 'wealth effect' that could feel like 2007-08
Bank of America Chairman and CEO Brian Moynihan discusses how a mild recession could impact housing, labor and energy sectors from the World Economic Forum.
Bank of America customers report 'disappeared' money from accounts after Zelle issue
After a flurry of complaints about missing funds on social media, Bank of America said "there was a delay in posting Zelle transactions" that has now been resolved.
Goldman Sachs shares sink after brutal quarter
Investors are selling shares of Goldman Sachs after the bank reported a drop in quarterly profits.
Bank of America CEO sees 'mild recession' in 2023 and is preparing for worse
The U.S. economy is likely headed for a recession in 2023, according to Bank of America CEO Brian Moynihan, who is preparing for a mild downturn this year.
Bank earnings beat expectations despite ‘headwinds’, JPMorgan CEO ‘prepared for whatever happens’
JPMorgan Chase, Citibank, Wells Fargo, and Bank of America earnings reports on Friday beat expectations
US banks get ready for shrinking profits and recession
Rising prices and higher borrowing costs have led consumers and businesses to curb spending, and since banks serve as economic middlemen, their profits decline when activity slows.