Category: Business » Banking

Bank of America Declares Quarterly Stock Dividends

12:46 pm Eastern | Business

Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.075 per share, payable June 30, to shareholders of record as of June 2.

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Federal Reserve Board announces approval of application by Community Bank System, Inc.

12:15 pm Eastern | Business

Federal Reserve Board announces approval of application by Community Bank System, Inc. read more »

Bank of America Announces Preliminary Voting Results of 2017 Annual Meeting of Stockholders

11:51 am Eastern | Business

Bank of America Corporation today announced preliminary results ofread more »

H15: Correction of Treasury rates for April 14, 2017, and the week ending April 14, 2017

25 Apr 18:04 | Business

Incorrect Treasury rates for April 14, 2017, were received from the external provider of this information beginning on April 21, 2017. The H.15 has been updated to correct the inaccurate rates.read more »

Agencies announce Wells Fargo has remediated resolution plan deficiencies

24 Apr 16:30 | Business

Agencies announce Wells Fargo has remediated resolution plan deficienciesread more »

Federal Reserve announces two enforcement actions against Deutsche Bank AG that will require bank to pay a combined $156.6 million in civil money penalties

20 Apr 16:00 | Business

Federal Reserve announces two enforcement actions against Deutsche Bank AG that will require bank to pay a combined $156.6 million in civil money penaltiesread more »

G17: Introduction of Reliability Estimates for Industrial Production Indexes

18 Apr 14:40 | Business

With the G.17 statistical release on April 18, 2017, the Federal Reserve Board began publishing estimates of the reliability of the levels and the rates of change (monthly and quarterly) of the reported production indexes for total industry, manufacturing, mining, and utilities. The reliability estimates are designed to give data users a sense of the typical range into which a statistic will likely end up after its final (fifth) revision in a monthly release. The reliability estimates are based on the revision history for the indexes back to 2008; each G.17 release will include estimates for those months and quarters for which either new or updated estimates were issued that month. A detailed explanation is available on the Board's website at https://www.federalreserve.gov/releases/g17/revisions/Current/DefaultRev.htm. The reliability estimates are issued in table 15 of the G.17 releaseread more »

G17: G.17 Data for March 2017 are now available

18 Apr 14:40 | Business

Industrial production and capacity utilization data for March 2017 are now available.Industrial production increased 0.5 percent in March after moving up 0.1 percent in February. The increase in March was more than accounted for by a jump of 8.6 percent in the output of utilities-the largest in the history of the index-as the demand for heating returned to seasonal norms after being suppressed by unusually warm weather in February. Manufacturing output fell 0.4 percent in March, led by a large step-down in the production of motor vehicles and parts; factory output aside from motor vehicles and parts moved down 0.2 percent. The production at mines edged up 0.1 percent. For the first quarter as a whole, industrial production rose at an annual rate of 1.5 percent. At 104.1 percent of its 2012 average, total industrial production in March was 1.5 percent above its year-earlier level. Capacity utilizatiread more »

Bank of America Reports First-Quarter 2017 Financial Results

18 Apr 06:59 | Business

Bank of America reported its first-quarter 2017 financial results today.read more »

E-Commerce Fraud Increased 33 Percent In 2016

17 Apr 11:07 | U.S. News

Understanding where fraud takes place matters so businesses and consumers can be diligent in protecting themselves. Fraudsters continue to migrate their activities online as more merchants switch to EMV terminals and consumers receive chip-and-pin credit cards. read more »

Bank of America Declares Preferred Dividends

14 Apr 2017 | Business

Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock: ...

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Federal Reserve Board announces approval of application by Nordea Bank AB

13 Apr 2017 | Business

Federal Reserve Board announces approval of application by Nordea Bank ABread more »

Phoenix-Area Homeowners View Home as an Asset, Look for Ways to Increase Value

12 Apr 2017 | Business

Experienced buyers in the Phoenix metro area are more likely to view their home as a financial asset rather than an element of their personality, according to the second annual Bank of America Homebuyer Insights Report. When asked how to best describe their current home, more local homeowners (49 percent) than those nationally (36 percent) and any of the 10 markets surveyed said a financial investment. Fewer than three in 10 said a reflection of their personality.

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St. Louis-Area Homeowners Buy With Family in Mind

12 Apr 2017 | Business

For St. Louis-area homeowners, family plays a major role in the homebuying decision, according to the second annual Bank of America Homebuyer Insights Report. Compared to the national average (35 percent) and all other markets surveyed, St. Louis homeowners (51 percent) purchased their first home for familial reasons, including marriage and children. Additionally, 59 percent of experienced buyers in St. Louis associate homeownership as family, higher than any of the 10 local markets surveyed.

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New York-Area Homebuyers Prepare, Live With Mom and Dad

12 Apr 2017 | Business

While they prepare for their first home purchase, many prospective buyers in the New York metro area are living with mom and dad, according to the second annual Bank of America Homebuyer Insights Report.read more »

Miami-Area Homebuyers Prioritize Saving, Look to Purchase in the Near Term

12 Apr 2017 | Business

First-time buyers in the Miami metro area place a significant emphasis on saving and see homeownership on the horizon, according to the second annual Bank of America Homebuyer Insights Report.read more »

Houston-Area Homebuyers Plan to Purchase Solo, Willing to Put in the Work

12 Apr 2017 | Business

Many aspiring buyers in the Houston metro area are looking to become solo homeowners, according to the second annual Bank of America Homebuyer Insights Report.read more »

Chicago-Area Homeowners Show Overwhelming Pride in Their Home

12 Apr 2017 | Business

For experienced buyers in the Chicago metro area, homeownership has clear sentimental value, according to the second annual Bank of America Homebuyer Insights Report. Nearly all (97 percent) Chicago homeowners say they are proud of owning their home, higher than any of the 10 local markets surveyed. Additionally, 92 percent say they treasure the memories they have made in their home, and 79 percent say their home is an extension of their personality.

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Charlotte-Area Homeowners Emotionally Tied to Home

12 Apr 2017 | Business

For experienced buyers in the Charlotte metro area, their current home may be their forever home, according to the second annual Bank of America Homebuyer Insights Report. Seventy-nine percent of local homeowners say they could stay in their current home for the rest of their lives, higher than any of 10 markets surveyed. As such, these experienced buyers show clear sentimental ties to their property: nearly all are proud of owning their home (94 percent) and treasure the memories they have made (94 percent).

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For Boston-Area Homeowners, Value Goes Beyond Dollars and Cents

12 Apr 2017 | Business

Boston homeowners are increasingly investing in their homes, as 78 percent look for ways to make it more valuable, and 59 percent spend a lot of free time working on their home.

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Denver-Area Homeowners Advise to Buy Early, View Current Home as Stepping Stone

12 Apr 2017 | Business

Denver-area homeowners see value in buying early, even if that means putting their dream home on hold for now, according to the second annual Bank of America Homebuyer Insights Report. Forty-six percent of experienced local buyers say their current home is a stepping stone to their forever home, which is more than the national average (36 percent) and any of the 10 local markets surveyed. When sharing advice on the homebuying experience, nearly one in three Denver owners say buy a home sooner to start building equity.

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Dallas-Fort Worth-Area Homeowners Optimistic About the Long Term

12 Apr 2017 | Business

When thinking about homeownership, experienced buyers in the Dallas-Fort Worth metro area overwhelmingly see its positive long-term impacts, according to the second annual Bank of America Homebuyer Insights Report.read more »

Millennial Homeowners’ Advice to Peers: Get off the Sidelines

12 Apr 2017 | Business

Forward-thinking millennials are buying homes – and they are happy aboutread more »

Minutes of the Board's discount rate meetings from February 13 through March 15, 2017

11 Apr 2017 | Business

Minutes of the Board's discount rate meetings from February 13 through March 15, 2017read more »

Federal Reserve Board announces termination of enforcement action with the Baraboo Bancorporation, Inc.

11 Apr 2017 | Business

Federal Reserve Board announces termination of enforcement action with the Baraboo Bancorporation, Inc.read more »

Federal Reserve Board announces approval of applications by United Bankshares, Inc., UBV Holding Company, LLC, and United Bank

7 Apr 2017 | Business

Federal Reserve Board announces approval of applications by United Bankshares, Inc., UBV Holding Company, LLC, and United Bankread more »

Mortgage Rates Lowest Since Mid-January

7 Apr 2017 | Business

Mortgage rates fell to the lowest levels in nearly three months, with the benchmark 30-year fixed mortgage rate now 4.24 percent, according to Bankrate.com's weekly national survey. read more »

CP: Commercial Paper Release will be delayed on Thursday, April 6

7 Apr 2017 | Business

The commercial paper release for Thursday, April 6, is delayed and will be updated as soon as possible.read more »

Federal Reserve Board announces termination of enforcement action with Devon Bancorp, Inc.

6 Apr 2017 | Business

Federal Reserve Board announces termination of enforcement action with Devon Bancorp, Inc.read more »

Minutes of the Federal Open Market Committee, March 14-15, 2017

5 Apr 2017 | Business

Minutes of the Federal Open Market Committee, March 14-15, 2017read more »

Bank of America to Report First-Quarter 2017 Financial Results on April 18

5 Apr 2017 | Business

As previously announced, Bank of America will report its first-quarter 2017 financial results on Tuesday, April 18. The results will be released at approximately 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET.

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CP: Revisions to Commercial Paper Outstanding

5 Apr 2017 | Business

On April 4, 2017, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from February 2016 to March 2017 and include year-end outstanding and maturity distribution of outstanding commercial paper.read more »

Federal Reserve is committed to maintaining the security of confidential FOMC information

4 Apr 2017 | Business

Federal Reserve is committed to maintaining the security of confidential FOMC informationread more »

Fed Rate Hikes Affecting Homeowners

4 Apr 2017 | Business

Although the Fed's recent interest rate hike signals renewed confidence in our economy and job market, many homeowners and home equity line of credit (HELOC) borrowers are questioning how this increase will impact their loans. read more »

Federal Reserve Board accepting applications for its Community Advisory Council

4 Apr 2017 | Business

Federal Reserve Board accepting applications for its Community Advisory Councilread more »

Bank of America Announces Plans to Open Financial Centers in Indianapolis

3 Apr 2017 | Business

April 3, 2017, 9:00 am EDT Bank of America Announces Plans to Open Financial Centers in Indianapolisread more »

Bank of America Merrill Lynch Announces Applications Now Open for 2017 Art Conversation Project Grants

3 Apr 2017 | Business

April 3, 2017, 3:00 am EDT Bank of America Merrill Lynch Announces Applications Now Open for 2017 Art Conversation Project Grantsread more »

G17: G.17 Annual Revision Released

1 Apr 2017 | Business

The Federal Reserve has revised its index of industrial production (IP) and the related measures of capacity and capacity utilization. On net, the revisions were small, and the contour of total IP is little changed. Total IP is still reported to have moved up about 22 percent from the end of the recession in mid-2009 through late 2014, to have declined in 2015, and to have moved sideways in 2016. The most notable difference between the current and the previous estimates is that total IP is now reported to have decreased about 2 3/4 percent in 2015, whereas it previously showed a decline of about 1 3/4 percent.[2] The incorporation of detailed data for manufacturing from the U.S. Census Bureau's 2015 Annual Survey of Manufactures (ASM) accounts for the majority of the differences between the current and the previously published estimates.read more »

G17: Communications Equipment Price Indexes Released

1 Apr 2017 | Business

The Federal Reserve has released updated communications equipment price indexes. Comma-delimited text files containing quarterly and annual data are available for download.read more »

Mortgage Rates Show Little Change

31 Mar 2017 | Business

Mortgage rates were only slightly changed this week, with the benchmark 30-year fixed mortgage rate inching higher to 4.30 percent, according to Bankrate.com's weekly national survey. read more »

New International Banking Rules Would Not Prevent Another Financial Crisis

28 Mar 2017 | Business

Current regulations aimed at reducing risk of crisis in the financial sector will not effectively reduce that risk, according to new research from the International Institute for Applied Systems Analysis (IIASA)read more »

Federal Reserve Board issues enforcement action with Bank of Star City and announces termination of enforcement action with Heritage Bank

28 Mar 2017 | Business

Federal Reserve Board issues enforcement action with Bank of Star City and announces termination of enforcement action with Heritage Bankread more »

Z1: Enhanced Financial Accounts projects updated

25 Mar 2017 | Business

The most recent data are available online at https://www.federalreserve.gov/apps/fof/efa/enhanced-financial-accounts.htm. All projects have been updated with the most recently available data.read more »

Federal Reserve System publishes annual financial statements

24 Mar 2017 | Business

Federal Reserve System publishes annual financial statementsread more »

Mortgage Rates Reverse Course

24 Mar 2017 | Business

Mortgage rates slipped lower this week, with the benchmark 30-year fixed mortgage rate dropping to 4.29 percent, according to Bankrate.com's weekly national survey. read more »

Merrill Edge Recognized for Industry-Leading Service Offerings

24 Mar 2017 | Business

Merrill Edge® has again been recognized as one of the top online brokers in several industry-leading reviews and rankings: Barron’s, StockBrokers.com, and the International Service Excellence Award. The recognition highlights Merrill Edge’s excellence in customer service, research and technology, with mobile app function and capabilities commended.

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Agencies complete resolution plan evaluation of 16 domestic firms; provide resolution plan guidance to four foreign banking organizations

24 Mar 2017 | Business

Agencies complete resolution plan evaluation of 16 domestic firms; provide resolution plan guidance to four foreign banking organizationsread more »

Federal Reserve Board issues enforcement action with Santander Holdings USA, Inc., and announces termination of enforcement action with HCSB Financial Corporation

23 Mar 2017 | Business

Federal Reserve Board issues enforcement action with Santander Holdings USA, Inc., and announces termination of enforcement action with HCSB Financial Corporationread more »

Banking agencies issue joint report to Congress under the Economic Growth and Regulatory Paperwork Reduction Act of 1996

21 Mar 2017 | Business

Banking agencies issue joint report to Congress under the Economic Growth and Regulatory Paperwork Reduction Act of 1996read more »

Federal Reserve System's Community Development Research Conference to focus on economic futures of kids and communities

21 Mar 2017 | Business

Federal Reserve System's Community Development Research Conference to focus on economic futures of kids and communitiesread more »

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