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HISTORICAL FACTS: 3 | History Defined

Bank of America CEO says stretched consumers are turning into nation of bargain hunters and companies are cutting price to respond

The era of post-pandemic revenge spending is over, and that could spell the end of greedflation-driven corporate profits.

Fortune

Bank Of America CEO Warns Of Consumer Discontent If Fed Delays Rate Cuts

Moynihan said a reduction could be necessary as early as September if inflation continues to ease.

International Business Times

What top CEOs are saying about emerging tech like AI—and why it matters to CFOs

During a Yale CEO Summit, Fortune 500 chief executives discussed reinventing businesses around artificial intelligence.

Fortune

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Bank of America CEO Brian Moynihan says both consumers and businesses are ‘slowing things down’—in fact, they’re acting like its 2016, a period of ‘very low growth’

"We gotta keep the consumer in the game in the U.S. economy because it's such a big part of it."

Fortune

Bank of America CEO's 2023 pay at million

Bank of America CEO Brian Moynihan's compensation for 2023 drops to million, reflecting a decrease compared to previous years.

Top News

Welcome to the era of 'normalization': Why Wall Street is convinced consumers will get comfortable with some economic pains in 2024

Taking a look across the outlooks for next year, there's one word that stands out from Wall Street. "Normal."

Fortune

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Is A Recession Looming? Two Big Bank CEOs See It That Way

Recession is likely, Citi's CEO told a Senate panel today, a sentiment echoed by JP Morgan's chief executive last week.

Kiplinger

Sen. Robert Menendez, facing bribery charges, stumps bank CEOs by asking how much their firms paid in settlements for allegedly ripping off consumers

The indicted senator expressed staunch support for the CFPB, which is under a legal threat of its own.

Fortune

Bank of America CEO Brian Moynihan says YOLO spenders aren't wrung out just yet: 'They're in pretty decent shape'

"The way consumers are spending money is leveling out. But all in all, in pretty decent shape."

Fortune

College jocks—not nerds—turn out to have more successful careers and earn $220K more, research finds

Revenge of the nerds is a fantasy.

Fortune

Bank of America warned consumers they would be pushed to the 'point of pain', CEO Brian Moynihan says we've now reached that point

Brian Moynihan, the CEO of Bank of America, said although consumers are buying less, some families are beginning to spend more than they're bringing in.

Fortune

3 Bank Stocks Investors Should Watch Like a Hawk This Week

The bank industry is expected to grow due to economic recovery, increased consumer spending, and digital transformation. However, risks of potential defaults, and slowing loan growth may pose challenges in the upcoming months. Amid this backdrop, it could be wise to add fundamentally strong banking stocks JPMorgan Chase (JPM), Bank…

StockNews.com

Bank Of America Retracts Recession Forecast, Citing Strong Job Market And Consumer Spending

BofA becomes the first major Wall Street bank to backtrack on recession prediction, reflecting growing economic optimism.

Zenger

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StockNews.com

Top 4 Bank Stocks Investors Should Watch Like a Hawk

After a turbulent few months, the banking sector seems to have stabilized lately, as the big banks reported better-than-expected results in the second quarter. However, risks of potential defaults and slowing loan growth could impact the industry in the upcoming months. I think bank stocks JPMorgan Chase (JPM), Bank of…

Fortune

How 'Erica' helped power a 19% spike in earnings at Bank of America

Big banks are betting on innovation like A.I. to boost growth.

Zenger

Bank Of America CEO Highlights Stable Deposits And Healthy Consumers Amid Strong Quarterly Results

BofA's Q2 revenue beats estimates, client balances climb and loan demand remains steady.

Fortune

Angelo Mozilo’s brilliant promotional skills powered Countrywide stock to soar 23,000% in 20 years—and his hunger for risk led to disaster

The dramatic rise—and epic fall—of once-hot mortgage lender Countrywide, whose legendary founder died at 83.

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StockNews.com

CRM and PDFS See High Growth Potential With B Ratings

Despite the economic headwinds, the software industry is expected to see solid growth due to the high demand for automation technology and digital business initiatives. Therefore, fundamentally strong stocks, Salesforce (CRM) and PDF Solutions (PDFS), which show high growth potential, might be worth buying. These stocks are B (Buy) rated…

Fortune

'Buy in May, sell in August' says Bank of America strategist

The Bank of America has debunked a market myth and uncovered when investors should really be selling up this summer.

Fortune

Warren Buffett slams failed banks for doing ‘dumb things’ but says ‘depositors will be safe no matter what’

Buffett blamed failed-bank executives for causing instability in the financial sector Wednesday, but said with regulators’ backing, “banks can go bust” and “depositors aren’t going to be hurt.”

Tribune News Service

New CEO of failed Silicon Valley Bank was once fired from his Charlotte banking job

The new CEO of failed Silicon Valley Bank is a familiar name to many in Charlotte’s banking community — Tim Mayopoulos was fired as general counsel of Bank of America in 2008 in the midst of the financial crisis and escorted out of the office by an HR representative.

Fortune

Bank of America CEO predicts most people won’t even notice ‘slight’ recession

Consumer spending is not slowing at the rate the Fed hoped for, Brian Moynihan said.

Al Jazeera

Bank of America CEO predicts ‘slight’ US recession this year

Bank of America CEO Brian Moynihan says he expects mild downturn in third quarter of 2023.

Fortune

‘Hope is not a strategy’: BofA CEO warns corporate America must prepare for the worst around debt ceiling

Bank of America CEO, Brian Moynihan, said now is not the time to start tweaking the 250-year-old Constitution.

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