Bank of America
Merrill Mini-Market Strategy Takes Root, Asset Growth Nears Rest of Firm
Effort to corral about 1,650 brokers in some 100 slow-growth branches into ‘community markets’ unit with focused management attention yields early signs of progress.
Bank of America Sued for Allowing $102 Million Ponzi Scheme
Bank of America Corp. was accused in a lawsuit of providing more than 100 accounts used to perpetrate what the U.S. regulators called a $102 million Ponzi scheme.
Merrill Weighs Fewer Retirement Account Restrictions
Wealth head Andy Sieg told brokers firm will decide in about 60 days how to simplify its rigid DOL Rule restrictions and perhaps allow commissions for some asset classes.
Merrill Edge Assets Continue to Soar
Assets under management at the no-frills brokerage unit are up almost 56% in the past three years, four times the growth rate of Bank of America’s much larger Merrill Wealth unit.
BofA’s Hard Line on Assault Rifles Can’t Please Anti-Gun Groups
Bank of America Corp.’s pledge to stop lending to firearms manufacturers isn’t enough for gun-control activists, who have turned on one of the only two U.S. banks to announce gun-related restrictions.
Merrill Flaunts Customer and Asset Growth Despite Recruiting Halt
Bank of America executives asset that advisors and managers are responding to “organic growth” incentives, although headcount fell by 124 brokers in the first quarter.
This Merrill Broker Embraced Lending—and Lost His Job
The Financial Industry Regulatory Authority has suspended an Arizona advisor for 18 months for falsely affirming that prospective Bank of America borrowers had plenty of cash in their Merrill accounts.
New York Pushes JPMorgan, BofA, Visa to Reconsider Gun-Sale Risk
New York state’s pension funds are urging credit-card companies to consider following Citigroup Inc.’s lead in cracking down on gun-sellers.
Merrill Insiders Get $83 Million in SEC Whistle-Blower Awards
Three Merrill Lynch insiders will get more than $83 million from the U.S. Securities and Exchange Commission — the biggest-ever payouts — for providing information that helped the agency bring a 2016 case against Bank of America Corp., their attorney said Monday.
JPMorgan Joins BofA in Quiet Warning: Crypto Could Disrupt Banks
JPMorgan Chase & Co. just weighed in again on virtual currencies — very discreetly.
Will Merrill Clients Open $25,000 BofA Savings Accounts for a $200 Gift?
In latest cross-marketing push, BofA pushes checking/savings/credit card promotion to Merrill clients with $200 checking account cash-back.