NEW YORK (AP) — Bank of America Corp. said Tuesday it lost $7.65 billion during the third quarter due to a charge related to credit and debit card reform legislation passed over the summer. In a dramatic shift, the bank also said it will change its consumer banking strategy to focu…
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Too many branches spoil the banks
Posted on: July 29th 2009 in Press Releases.
NEW YORK: Call it Overbanked of America. News that Bank of America Corp plans to shut some of its 6,109 branches may mark a turning point in what analysts have long deemed a nationwide glut in bank branches, as more customers favor banking from their computers and phones. The changes c…
Ten US banks need to raise $74.6 bn in capital
Posted on: May 8th 2009 in Press Releases.
US regulators said 10 of the top 19 banks will need to raise a total of USD 74.6 billion in capital over the next six months. The USD 74.6 billion amount was smaller than what some analysts had estimated the results of the bank stress test to be. Bank of America had the largest …
Great Speech, Obama! But Still Wrong About The Problem
Posted on: April 15th 2009 in Press Releases.
We can’t say enough about the joy of having a sharp, articulate, and charming president lead this country through this crisis. Every time we watch Obama speak, our confidence is restored. That said, we wish Obama didn’t spend so much time hanging out with …
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