Bank Of America Corp (BAC) Financial News - [$$] BofA Chief Sees Top U.S. Officials
Bank Of America Corp (BAC)
[$$] BofA Chief Sees Top U.S. Officials
BY DAN FITZPATRICK Embattled Bank of America Corp. boss Brian Moynihan met privately this week with Treasury Secretary Timothy Geithner and Federal Reserve governor Daniel Tarullo amid the bank's campaign to calm investors and employeesabout the bank's dramatic share slump. The separate meetings took place on Wednesday in Washington, said people familiar with the situation. Earlier that day, Mr. Moynihan participated in an unusual public conference call arranged by one of the bank's largest shareholders, where he offered assurances about the bank's strategy, financial strength and ability to withstand market volatility. The 51-year-old CEO spent much of this week meeting with employees, ......Open whole article (external link)
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Bank Of America Corp Stock Summary
Bank of America Corporation, through its subsidiaries, provides banking and financial services to individuals, small- and middle-market businesses, corporations, and governments primarily in the United States and internationally. The company?s Deposits segment generates savings accounts, money market savings accounts, certificate of deposits and IRAs, and checking accounts; and Global Card Services segment provides the U.S. consumer and business card, consumer lending, international card and debit card services. Its Home Loans & Insurance segment offers fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, reverse mortgages, home equity lines of credit, and home equity loans, as well as property, casualty, life, disability, and credit insurance. The company?s Global Commercial Banking segment provides commercial loans and commitment facilities, real estate lending, leasing, trade finance, short-term credit, asset-based lending, and indirect consumer loans; and capital management and treasury solutions, such as treasury management, foreign exchange, and short-term investing options. Its Global Banking & Markets segment provides financial products, advisory services, financing, securities clearing, settlement, and custody services; debt and equity underwriting and distribution, merger-related advisory services, and risk management products; and integrated working capital management and treasury solutions. The company?s Global Wealth & Investment Management segment offers advisory services, team-based investment advice and guidance, brokerage services, and wealth management solutions, as well as retirement services. Bank of America Corporation serves customers through a network of approximately 5,900 banking centers and 18,000 automated teller machines. The company was founded in 1874 and is based in Charlotte, North Carolina.