Bank of America

For the first time since Merrill Lynch acquisition, BofA exceeds JPMorgan Chase in investment banking fees

As far as investment banking fees go, Bank of America outperformed JPMorgan Chase & Co since it acquired Merrill Lynch & Co in 2008, Bloomberg reported.

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Banks increasingly reliant on growing equity markets

Banks are growing more reliant on the growing market for equities as they get nearly half of their fourth quarter investment banking revenues from equity trading and underwriting, the Financial Times reported.

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BofA encourage junior employees of corporate and investment bank to take weekends off

The Bank of America is discouraging its junior investment bankers from working on weekends as it seeks to promote better work-life balance for its employees, the Financial Times reported.

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Indonesia's CT Corp engages 13 banks for $1.275B syndicated loan- sources

Sources told Bloomberg that CT Corp, a diversified holding company based in Indonesia, has hired 13 lenders to market a syndicated loan worth $1.275 billion.

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BofA's legal costs rise because of Countrywide deal- report

The Los Angeles Times reported that the legal costs of Bank of America could continue to rise, mostly due to its ill-fated acquisition of Countrywide Financial Corp in 2008.

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LA files case against Bank of America for discrimination

Los Angeles has filed a case against Bank of America for discriminatory mortgage lending among the minority communities in the city, Reuters reported citing a court filing.

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Judge gives final approval to BofA's Countrywide $500M settlement

US District Judge Mariana Pfaelzer gave final approval to the USD 500 million class action settlement between Bank of America's Countrywide unit and its investors.

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Dow Jones index for the first time closes above 16,000

The Dow Jones Industrial Average, for the first time, closed above the psychological threshold of 16,000, extending a stock rally that had already experienced a 22% spike so far this year.

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Charter nears multi-billion dollar debt financing agreement for Time Warner bid

Charter Communications was reportedly nearing an agreement with investment banks to borrow money for its bid for Time Warner Cable Inc. Charter has held talks with Bank of America Corp., Barclays Plc and Deutsche Bank AG.

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Viking Global Investors purchases nearly USD 620 million new stake in Bank of America Corp

Hedge fund firm Viking Global Investors obtained 44.9 million new shares in Bank of America in a deal worth USD 620 million near the end of September.

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Sotheby's, BofA, J.C. Penney attract hedge fund buyers

Top U.S. hedge fund managers in the third quarter zoned in on the consumer sector, with investment plays ranging from Sotheby's, a high-end auction house that caters to millionaires, to J.C. Penney Co, the struggling department store chain.

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Payment startup scoops up USD38 million in funding round

California-based bills payment and invoicing startup picked up USD38 million in a new financing round led by Scale Venture partners and other former investors.

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BofA nearing settlement with Freddie Mac

A USD1.4 billion settlement is being negotiated between Bank of America and Freddie Mac on the issues related to the repurchase of faulty mortgages sold by the bank to the mortgage lender.

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Bank of America and executive to pay damages for shoddy loans under the 'Hustle' program

The Hustle, as it was known, rewarded volume instead of quality for mortgages sold by Bank of America to Fannie Mae and Freddie Mac.

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US Department of Justice's FIRREA strategy may affect relationship with Wall Street

Reuters reported that the use of FIRREA in the Department of Justice's case against Bank of America could change the relationship between Wall Street and the government regulator.

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