Bank of america Stories
CORRECTED: Big banks repay government bailout funds
(Corrects number of banks in first bullet point, corrects index closing level in third bullet point, updates total repayment figure to $68 bln in bullet point and paragraph 1)
Carlyle, Blackstone bid for First Republic: report
Carlyle Group and Blackstone Group LP are leading an investor group that is bidding to acquire First Republic Bank, a private banking unit of Bank of America Corp , Bloomberg News said on Tuesday, citing three people familiar with the matter.
BofA's BlackRock stake grows more appealing
Bank of America Corp, hoping to repay $45 billion of government money, is less likely to raise the funds by selling its big stake in BlackRock Inc after the asset manager buys Barclays Global Investors, analysts said.
Citigroup says TARP hurts ability to keep talent
Citigroup Inc's chairman said on Monday the bank may find it harder to retain and attract top employees while the bank is holding on to federal bailout money.
BlackRock lands BGI funds, Barclays boosts capital
BlackRock Inc , the fund manager that has been one of the biggest winners of the credit crunch, has snapped up Barclays Global Investors for $13.5 billion in a deal creating the world's largest money manager.
Treasury faces pressure on price of TARP exit
The U.S. Treasury Department is facing mounting pressure to ensure that taxpayers get a fair return on banks' warrants as the largest firms prepare to shake off government ownership stakes.
BlackRock lands BGI, Barclays boosts capital
BlackRock has agreed to buy Barclays Global Investors to create the world's biggest asset manager in a $13.5 billion deal that British bank Barclays hopes will put to rest concerns about its capital.
BlackRock to buy BGI, becomes top asset manager
BlackRock Inc. said on Thursday it will buy British bank Barclays Plc's investment arm BGI for $13.5 billion in a blockbuster deal that will create the world's biggest asset manager.
Lawmakers blast Fed, Treasury for BofA threats
U.S. lawmakers accused the Treasury and Federal Reserve on Thursday of using threats and intimidation to force Bank of America to take over Merrill Lynch, a charge Bank of America Chief Executive Ken Lewis denied.
Ken Lewis probe chairperson: Banks made ‘up rules as they went along’
Bank of America Corp. chief executive testified on Thursday before the House Committee on Oversight and Government Reform as they probed the bank’s purchase of Merrill Lynch
Lewis says pressure but no threat to BofA over Merrill
U.S. lawmakers accused the Treasury and Federal Reserve on Thursday of using threats and intimidation to force Bank of America to take over Merrill Lynch, a charge Bank of America Chief Executive Ken Lewis denied.
Bank of America OK'd Merrill deal after gov’t took on risk: CEO
Bank of America chief executive officer Ken Lewis said Thursday his bank went through with the Merrill Lynch acquisition late last year after the government committed to taking on some of the risk of the merger.
BofA's Lewis testifies on Merrill, Bernanke and Paulson eyed
Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson will be asked to testify before Congress on their role in Bank of America's acquisition of Merrill Lynch.
Lewis testifies on BofA, Bernanke and Paulson eyed
Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson will be asked to testify before Congress on their role in Bank of America's acquisition of Merrill Lynch.
Lewis testifies on Merrill, Bernanke and Paulson eyed
Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson will be asked to testify before Congress on their role in Bank of America's acquisition of Merrill Lynch.
Emails show Fed pressed BofA to do Merrill deal
Emails from Federal Reserve officials appear to back assertions by Bank of America Chief Executive Kenneth Lewis that he was under pressure, to the point of losing his job, to complete the purchase of Merrill Lynch, despite worries about its financial condition.
U.S. names pay czar of bailout companies
The Obama administration on Wednesday named Kenneth Feinberg, the lawyer who oversaw the government's compensation fund for victims of the September 11, 2001, attacks, as its pay czar to police compensation of top earners at companies receiving exceptional government aid.
Emails show Fed pressure on BofA in Merrill deal
Emails from Federal Reserve Chairman Ben Bernanke and others indicate pressure on Bank of America to withhold information from the public about the bank's worries about Merrill's financial condition, according to a document written by U.S. House Republicans.
U.S. names 9/11's Feinberg pay czar of bailout companies
The Obama administration on Wednesday named Kenneth Feinberg, the lawyer who oversaw the government's compensation fund for victims of the September 11, 2001, attacks, as its pay czar to police compensation of top earners at companies receiving exceptional government aid.
Geithner says shareholders need say in executive pay
U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration wants Congress to pass new laws giving securities regulators power to force companies to let shareholders have more say in setting executive pay levels.
India shares rise 2.25 pct to best close in 10 mths
Indian shares rose 2.25 percent on Wednesday to its best close in 10 months, as markets across Asia and Europe were boosted by cash-flush investors buoyed by signs of revival in global economic growth.
House panel to subpoena Fed over BofA-Merrill deal
A House of Representatives committee on Tuesday said it would subpoena the Federal Reserve to force the central bank to surrender documents regarding its role in Bank of America's takeover of Merrill Lynch last year.
U.S. House panel to subpoena Fed over BofA-Merrill
A House of Representatives committee on Tuesday said it would subpoena the Federal Reserve to force the central bank to surrender documents regarding its role in Bank of America's takeover of Merrill Lynch last year.
Countrywide exec warned on loans at Fed '06 meeting
The chief risk officer of Countrywide Financial Corp, the poster-child company for the loose U.S. home loans that staggered the world economy, was warning against them even when it put him at odds with his own company -- and with Fed chairman Ben Bernanke.
U.S. clears 10 big banks to repay bailout funds
JPMorgan, Goldman Sachs and eight other top U.S. banks won clearance on Tuesday to repay $68 billion in taxpayer money given to them during the credit crisis, a step that may help them escape government curbs on executive pay.
Bank of America paying Mozilo's legal fees
Bank of America Corp said on Tuesday it is covering the legal fees of Angelo Mozilo, the former Countrywide Financial Corp chief executive charged with securities fraud and insider trading.
U.S. bankruptcies highest since 2005
U.S. bankruptcy filings rose in the first quarter to the highest since 2005, government data show, as rising unemployment, falling housing prices and tight credit made it harder for people to hold off their creditors.
BlackRock nears BGI deal to build asset powerhouse
U.S. money manager BlackRock is near to buying Barclays Global Investors for between $12 billion and $13 billion to create a global asset manager twice the size of its nearest rival, people familiar with the matter said.
Barclays in BGI talks, $12 billion BlackRock deal seen
Barclays Plc is in talks to sell Barclays Global Investors , the British bank said on Monday, with U.S. fund manager BlackRock the frontrunner to land the asset manager for about $12 billion.
Two more Bank of America directors resign
Bank of America Corp on Monday said two more directors have resigned from its board, pushing the total to five who have left since late April.