Bank of America

brian moynihanThe good news? Traders are getting a bonus. The less good news? Said bonus is going to look like this: Read more »

  • 15 Jan 2015 at 4:15 PM
  • Banks

BofA’s Best Quarter Of The Year Not Actually That Great

Could really use a win right now.11% drop in profitability and all—was BofA’s second in the black of 2014, so that’s something! Read more »

  • 15 Jan 2015 at 2:47 PM

Layoffs Watch ’15: Bank of America

brian_moynihan_bofaCuts are said to have gone down at the House o’ Moynihan today. Read more »

  • 19 Dec 2014 at 3:53 PM

Bonus Watch ’14: Countrywide Whistleblowers

angelo_moziloThe total payouts to whistle-blowers in the federal government’s $16.65 billion settlement with Bank of America over its mortgage business may approach $170 million. Edward O’Donnell, a former executive at Countrywide Financial, and Robert Madsen, a former property appraiser for the bank already have been identified as two of the whistle-blowers that federal prosecutors gave credit to in the settlement agreement with Bank of America. The other two whistle-blowers entitled to a share of the settlement dollars being paid out by Bank of America are Shareef Abdou, an executive in the bank’s operations group, and the firm Mortgage Now, a New Jersey mortgage lender, according to court filings. The filings did not disclose the value of the settlement payouts, but the whistle-blowers, all of whom filed complaints under the Federal False Claims Act, are collecting payments equal to 16 percent to 17 percent of specific portions of the $16.65 billion, according to court filings and people briefed on the matter but not authorized to speak publicly. [Dealbook]

  • 24 Nov 2014 at 2:55 PM

Jesus Has A Bone To Pick With Brian Moynihan

legitimately scared right nowHe’s letting his gal-pals be the messengers. Read more »

brianmoynihanbofa2It’s a great day in Moynihan Land. Read more »

  • 11 Nov 2014 at 2:52 PM

Pay Hike Watch ’14: Bank of America

money-showerThe House of Moynihan is said to have gone the way of Credit Suisse, Jefferies, Goldman Sachs, JP Morgan, and Morgan Stanley, and given its tiniest bankers a little something extra. Read more »

  • 07 Nov 2014 at 6:33 PM
  • Banks

Currency Manipulation = Loss Of Currency For BofA

This face finally stuck.Wondering where that $400 million went? You know, the $400 million that was the difference between a third-quarter profit and third-quarter loss for Bank of America? Well, it went exactly where you’d expect it to have gone. Read more »