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Bank of New York Mellon

BofA Posts 1Q Loss

Bank of America (NYSE:BAC) swung to a loss in the first quarter, as a $6 billion litigation charge weighed on the bank's earnings.The company said Wednesday it booked a loss of $276 million, or five cents a share, versus a year-ago profit of $1.48 billion, or 10 cents a share. The latest period included a charge of 21 cents a share related to Bank of America's settlement over mortgage-backed securities, plus 19 cents in charges tied to legacy mortgage issues.Excluding all one-time items except the settlement charge, Bank of America reported a per-share profit of 14 cents. Analysts were looking for earnings of five cents a share.Revenue slipped 2.7% to $22.57 billion, topping a consensus estimate of $22.33 billion.Charlotte, N.C.-based Bank of America, which achieved its best annual profit last year since 2007, has been working to slash costs and resolve issues dating back to the financial crisis.Late in March, the nation's second-largest bank by assets agreed to a $9.5 billion settleme...

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    The Federal Reserve on Friday released new guidance aimed at eight of the largest U.S. banks designed to help improve stability, prevent failures and ward off anothe...

  10. Fed to continue with tapering plan?

    UBS Investment Research Chief Economist Maury Harris and BNY Mellon Managing Director Michael Woolfolk on the Federal Reserve and the outlook for the markets and economy.

  11. BNY Mellon's Fourth-4Q Profit Shows Modest Gain

    BNY Mellon Corp said on Friday its fourth-quarter profit rose slightly and met Wall Street expectations as a buoyant stock market lifted investment management and pe...

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    Bank earnings and an array of economic data related to retail sales, inflation and housing highlight next week's economic calendar.The most closely watched earnings ...

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    BNY Mellon Global Markets Strategist Michael Woolfolk on the outlook for markets.

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    Financial stocks fell on Tuesday after regulators determined that the nation's eight biggest banks will have to meet new capital requirements. The Office of the Comp...

  3. Regulators To OK New Rules for Big Banks

    Banking regulators on Tuesday took another step in their efforts to ensure that the largest U.S. banks have enough capital to withstand a financial crisis similar to...

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    Financial regulators will vote on Tuesday to finalize tough requirements for U.S. banks' leverage that are expected to be stricter than the rules overseas firms must...

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    V2V Associates CIO Rob Morgan talks financials.

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    UNTL Capital Partner Maged Bishara and BNY Mellon Senior Strategist Michael Woolfolk on currencies.

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