Bank of America's results were helped by an $828 million release from its reserves for expected loan losses.
"Our results continued to be impacted by the unprecedented operating environment and the required work to put our substantial legacy issues behind us."
Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
“With the explosion in virus numbers putting downward pressure on demand in the short-term, we expect inflation to remain subdued for a while yet."
The bank will purchase another 150 billion pounds in bonds to shore up the U.K. economy as the country enters a second lockdown.
“This is a huge victory for Nebraska consumers and the fight for achieving economic and racial justice."
“These were promising results against a backdrop of the continuing impacts of COVID-19 on the global economy."
The Fed's Open Market Committee said that the ongoing public health crisis would continue to weigh on economic activity, employment, and inflation.
“Terrifyingly high unemployment and potentially rapid disinflation are powerful arguments in favor."
“We saw a risk to the outlook of the economy [from the coronavirus outbreak] and we chose to act," Fed Chair Jerome Powell says.
“Consumers shielded the economy from global headwinds for most of 2019 but they won’t prove immune to the coronavirus outbreak."
Inadequate preparation for the transition "could have an adverse impact on the safety and soundness of regulated institutions."
