NEW YORK (AP) — Bank of America’s second-in-command is out of a job following a management shake-up announced late Wednesday. Bruce Thompson, Bank of America’s chief financial officer for the last five-and-a-half years, will be stepping down, CEO Brian Moynihan ...Read More »
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NEW YORK — Wall Street and Main Street gave banks a boost last quarter. Fees from corporate mergers and commissions from trading fueled profits at big financial firms. But average Americans also helped by taking out more home loans and ...Read More »
NEW YORK — Morgan Stanley said Wednesday that it has agreed to pay $2.6 billion to settle with the federal government over its role in the mortgage bubble and subsequent financial crisis. The settlement makes Morgan Stanley the latest Wall ...
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NEW YORK — A federal judge imposed a $1.3 billion civil penalty against Bank of America on Wednesday for its role in selling risky mortgages to Fannie Mae and Freddie Mac that were advertised as safe investments. The fine was ...Read More »
NEW YORK— 2013 was a great year for the average investor, but few market strategists believe that 2014 will be anywhere near as good. The simple strategy of buying U.S. stocks, selling bonds and staying out of international markets isn’t ...Read More »
NEW YORK — Stocks edged higher on Wall Street on Tuesday, helped by a report that showed American companies were investing in their businesses at the fastest pace since January. Trading was quiet ahead of the Christmas holiday. U.S. markets ...Read More »