Articles Tagged with ''Brian Moynihan''

Bank of America is raising its minimum wage to $20

Announces pay raise day before congressional hearing on big bank behavior
Bank of America plans to raise the minimum wage of its 205,000 employees this year, eventually boosting it to $20 per hour within the next two years. CEO Brian Moynihan said Tuesday on MSNBC that the bank will increase pay to $17 per hour starting May 1st, climbing incrementally until it lands at $20 in 2021.
Read More

[Video] BofA CEO: Introduction of standard 10% down payment mortgage would increase homeownership

And won’t introduce a ton of risk
As of late, lenders are focusing a lot more on changing the mindset behind the supposed 20% down payment requirement in order to help more potential homeowners. And the CEO of one of the largest banks is included in this new wave of thinking. And no, the change won't add a bunch of risk into the market.
Read More

[Video] Bank of America CEO: Don't break up the big banks

Reacts to recent comments from President Donald Trump
The Trump Administration recently stated that they are actively considering splitting giant banks. So, coming from the leader of one of the biggest banks, Bank of America CEO Brian Moynihan explained why this idea would harm the financial system.
Read More

Bank of America CFO’s exit reportedly linked to desire to lead company

Citing sources, Reuters reports Bruce Thompson wanted CEO job
Bank of America shocked the market a bit last week, when it announced the departure of Bruce Thompson, the bank’s chief financial officer and chief risk officer, without a great deal of explanation as to why Thompson was leaving. Now, a Reuters report sheds some light onto the supposed reason that Thompson is stepping down.
Read More

Bank of America shakes up senior management

CFO and Chief Risk Officer Bruce Thompson steps down
Despite seeing a $3 billion jump in its net income in the second quarter, Bank of America is shaking up its senior management, replacing Bruce Thompson, the bank’s chief financial officer and chief risk officer, and making other moves.
Read More