Media reports indicate that JPMorgan Chase and Pittsburgh-based PNC Financial are in the process of submitting bids to the FDIC in which they would buy First Republic. None of those parties were commenting on the reports. Charlotte-based Bank of America also is interested, according to CNBC.
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Bank of America said its profits grew 15% last quarter, the latest of the big banks to do exceptionally well this earnings season as investors and consumers flock to Wall Street for safety after the failure of Silicon Valley Bank and Signature Bank.
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Bank of America is increasing its support of the electric vehicle industry by offering financing for vehicle chargers as well as well as EVs. Here are the details.
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Congress is once again bickering about raising the debt ceiling, the amount of money the US government can borrow to pay its bills on time. And that means that Corporate America has to be ready for the worst. Bank of America’s CEO says it is.
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The CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.”
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Monday’s upbeat news comes just days after Bank of America warned about a looming recession. In a statement, Chair and CEO Brian Moynihan praised the results:
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The Federal Reserve’s fight to squash inflation will cause the US economy to start losing tens of thousands of jobs a month beginning early next year, Bank of America warns.
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Bank of America is offering zero down payment mortgages with no closing costs for first-time homebuyers in certain Black and Hispanic neighborhoods in a new program designed to chip away at inequality in the housing market.
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The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point. What matters is that current economic conditions are negatively impacting those who are most vulnerable.
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