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CFOs Vow to Boost Tech Influence in 2023
Greater vigilance in overseeing technology strategy shapes up as a key priority for the coming year.
By
David McCann
| February 6, 2023
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Bank of America Names New CFO
Alastair Borthwick will take over as finance chief as part of the bank’s management overhaul.
By
Lauren Muskett
| September 10, 2021
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Credit & Capital
Low Rates, Fewer Loans Cut BofA’s 4Q Profits
Bank of America's results were helped by an $828 million release from its reserves for expected loan losses.
By
Matthew Heller
| January 19, 2021
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Strategy
Five Lessons for CFOs As We Approach 2021
Don't let uncertainty deter your company from growth, but be sure finance keeps a close eye on internal processes and key relationships.
By
Vincent Ryan
| December 21, 2020
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Risk & Compliance
Disclosures Amid COVID-19: “None of This Has Been Done Before”
Once the dust finally settles from the COVID-19 crisis, the last thing issuers will want is to face an inquiry and possible enforcement action by the SEC.
By
Vincent Ryan
| May 6, 2020
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Financial Performance
BofA Sees Net Interest Income Growth Slowing
Interest rate expectations "have been lowered, plus we have some seasonal headwinds in Q2," CFO Paul Donofrio says.
By
Matthew Heller
| April 16, 2019
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Investment Banking
Bank of America’s Profit Jumps 32%
BofA's consumer banking, global markets, and wealth management divisions drove performance in the third quarter.
By
William Sprouse
| October 15, 2018
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Risk & Compliance
Visa, Mastercard Settle Long-Running Fee Suit
The companies said they have already set aside funds to cover the penalty.
By
William Sprouse
| September 19, 2018
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Growth Companies
BofA Sees Higher Profit On Lower Costs, Taxes
A 5% cut in costs and a substantial reduction in quarterly income tax helped Bank of America post $6.8 billion in second-quarter earnings.
By
William Sprouse
| July 16, 2018
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Risk & Compliance
Seven Accused in $5M Insider Trading Scheme
The SEC says the scheme revolved around an IT consultant who had access to a computer system that BofA used to track investment banking deals.
By
Matthew Heller
| August 17, 2017
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Financial Performance
BofA’s Retail Unit Hits ‘Milestone’ $2B Profit
The bank's overall Q2 earnings rose 10% to $4.9 billion as the retail business delivered a 21% increase in net income.
By
Matthew Heller
| July 18, 2017
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Risk & Compliance
BofA Pays Tutor Perini $37M to Settle Fraud Case
Tutor Perini alleged the bank did not disclose the ARS market was heading for collapse when it sold the securities to the company.
By
Matthew Heller
| June 7, 2017
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The Economy
Trump and the Age of Magical Thinking
It's looking like the stock market's "Trump Bump" was just a figment of the imagination, as a deep corporate tax cut grows less likely.
By
Christopher Whalen
| April 19, 2017
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Financial Performance
Major Banks’ Earnings Beat Q4 Expectations
Consumer banking is driving growth, with deposits and interest income rising at Bank of America, JPMorgan Chase, and Wells Fargo.
By
Matthew Heller
| January 16, 2017
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Risk & Compliance
FDIC Says BofA Owes $542M to Insurance Fund
An FDIC lawsuit alleges the bank may ultimately have underreported its deposit insurance liability by more than $1 billion.
By
Matthew Heller
| January 10, 2017
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Strategy
BofA Crushes Estimates With 6.6% Profit Gain
A surge in trading revenue and cost-cutting efforts boosted the bank's Q3 bottom line despite stubbornly low interest rates.
By
Matthew Heller
| October 17, 2016
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