Latest news about bank of america
Here are some of the latest news and updates about Bank of America:
Recent News
- Bank of America to Acquire Merrill Lynch: In January 2009, Bank of America announced that it would acquire Merrill Lynch & Co. for $50 billion, creating one of the largest financial institutions in the world.
- Bank of America to Pay $2.43 Billion to Settle Mortgage Crisis Claims: In August 2014, Bank of America agreed to pay $2.43 billion to settle claims that it misled investors about the quality of mortgage-backed securities it sold before the financial crisis.
- Bank of America to Raise Minimum Wage to $20 per Hour: In June 2017, Bank of America announced that it would raise the minimum wage for its employees to $20 per hour, effective July 2017.
- Bank of America to Launch Mobile Payment Service: In September 2017, Bank of America announced that it would launch a mobile payment service called Bank of America Cash Pay, which would allow customers to make payments using their mobile devices.
- Bank of America to Acquire US Trust: In October 2018, Bank of America announced that it would acquire US Trust, a wealth management firm, for $750 million.
Recent Financial Performance
- Bank of America Reports Strong Earnings: In January 2022, Bank of America reported strong earnings for the fourth quarter of 2021, with net income of $7.3 billion and a return on equity of 12.4%.
- Bank of America's Revenue Reaches Record High: In October 2021, Bank of America reported that its revenue had reached a record high of $103.3 billion for the third quarter of 2021.
- Bank of America's Net Interest Income Reaches $12.4 Billion: In July 2021, Bank of America reported that its net interest income had reached $12.4 billion for the second quarter of 2021, a 10% increase from the same period in 2020.
Recent Leadership Changes
- Brian Moynihan to Remain CEO of Bank of America: In February 2022, Bank of America announced that Brian Moynihan would remain CEO of the company for at least another five years.
- Anne Finucane to Retire as Bank of America's Chief Marketing Officer: In January 2022, Bank of America announced that Anne Finucane would retire as its Chief Marketing Officer after 25 years with the company.
Recent Community Development Initiatives
- Bank of America to Invest $1 Billion in Affordable Housing: In June 2021, Bank of America announced that it would invest $1 billion in affordable housing initiatives over the next five years.
- Bank of America to Launch Small Business Lending Program: In May 2021, Bank of America announced that it would launch a small business lending program to support small businesses and entrepreneurs.
These are just a few of the latest news and updates about Bank of America. If you're looking for more information, I recommend checking out the company's website or following reputable financial news sources.