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Regulators adopt Volcker Rule

WASHINGTON, Dec. 10 (UPI) -- U.S. regulators Tuesday voted to adopt the so-called Volcker rule meant to limit the ability of banks to use their own money to make risky investment bets.

UPI NewsTrack Business

Stocks close near peak for the week ... Citigroup to change executive pay process ... In China, R&D grew in 2012 ... Retail weak in Canada in December ... News from United Press International.

Citigroup to change executive pay process

NEW YORK, Feb. 22 (UPI) -- U.S. financial behemoth Citigroup is changing its executive compensation formula in response to disgruntled shareholders, a regulatory filing said.

Fed settles mortgage abuse with 10 banks

WASHINGTON, Jan. 7 (UPI) -- The U.S. Federal Reserve said 10 banks agreed to pay $8.5 billion to close down a foreclosure fraud and lending abuse review.
Bank of America to cut 16,000 jobs

Bank of America to cut 16,000 jobs

CHARLOTTE, N.C., Sept. 20 (UPI) -- U.S. financial giant Bank of America has plans to cut 16,000 jobs by the end of the year in an effort to become a sleeker company, an in-house document says.

Bank of America to cut costs by $5 billion

NEW YORK, Sept. 12 (UPI) -- Bank of America Chief Executive Officer Brian Moynihan said Monday the bank, largest in the United States, would trim annual costs by $5 billion.
Bank of America plans huge job cuts

Bank of America plans huge job cuts

CHARLOTTE, N.C., Sept. 10 (UPI) -- Bank of America Corp., the largest U.S. bank holding company, plans to cut 40,000 jobs, more than 10 percent of the workforce, executives say.
BofA to sell Canadian credit card business

BofA to sell Canadian credit card business

CHARLOTTE, N.C., Aug. 15 (UPI) -- Bank of America said Monday it had agreed to sell its Canadian credit card business to TD Bank Group for an undisclosed amount.
BofA to make management shifts

BofA to make management shifts

CHARLOTTE, N.C., April 16 (UPI) -- Bank of America, the largest U.S. bank by assets, is making management changes in reaction to a decline in profits, sources told The Wall Street Journal.
BOFA looking not near, but far, for CFO

BOFA looking not near, but far, for CFO

CHARLOTTE, N.C., Jan. 13 (UPI) -- Bank of America's new Chief Executive Officer Brian Moynihan said the U.S. financial giant's next chief financial officer would come from outside the bank.

Panel calls on top bankers to testify

WASHINGTON, Jan. 8 (UPI) -- A Congressional panel assembled to find the causes of the financial meltdown has scheduled four top U.S. bankers to give testimony next week.

New BOFA CEO calls for balance

CHARLOTTE, N.C., Jan. 4 (UPI) -- The new chief executive officer of Bank of America drew his line in the public sand Monday, stating growth in U.S. banking helped topple financial stability.

Insider is next Bank of America CEO

CHARLOTTE, N.C., Dec. 17 (UPI) -- Bank of America says its head of consumer banking Brian Moynihan will become its chief executive officer to replace Kenneth Lewis on Jan. 1.

Credit cards aim at building trust

NEW YORK, Sept. 18 (UPI) -- Credit card companies are offering new cards aimed at regaining customer trust in advance of the U.S. credit card reform law, market analysts said.

Bank of America re-brands private bank

NEW YORK, June 18 (UPI) -- Bank of America said it is re-branding its wealth management business, changing the name to U.S. Trust, Bank of America Private Wealth Management.
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