Business Top banking strategists declared a bear market and pointed to a more than 20 percent decline in Standard & Poor's 500 index since its all-time highs on September 21. The S&P index joins the Dow on track to have its worst years in more than a decade. Stephen Suttmeier, chief equity technical strategist at Bank of America-Merrill Lynch, produced two S&P 500 charts on CNBC suggesting an increasingly deepening correction and evidence stocks were under a bear market. On Monday, the Dow dropped more than 650 points to below 22,000, and the S&P fell 65 points, or 2.7 percent, by the market's 1 p.m. E.T. early close Monday. The U.S. stock market nosedive is the single worst day of trading on Christmas Eve ever. The S&P 500 has fallen 20.06 percent from its September highs. Wall Street firms and analysts traditionally dub declines of more than 20 percent from recent highs as bear … [Read more...] about Why Are Stocks Crashing? Deepening Bear Market Could Last 6 Months, Bank of America Chief Says
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As market president, Chandler will lead banking and investment teams and direct Bank of America's resources in the market to address community priorities. She'll also continue in her role as the U.S. Trust Bank of America Private Wealth Management market executive for North Texas, Tulsa and Wichita. A Dallas County native, Chandler earned her bachelor's degree in government from the University of Texas and her master's degree in business administration from the University of Dallas. She serves as board chair for Leadership Dallas Alumni and as an advisory board member of the Junior League of Dallas and United Way Women of Tocqueville. Bank of America is the second largest bank in Texas in assets and deposits, according to the Texas Department of Banking. As of June 30, Bank of America had assets and deposits of $113 billion in the Lone Star State. The state's biggest bank is JPMorgan Chase with assets and deposits of $151 billion. … [Read more...] about Jennifer Chandler takes over as Bank of America’s Dallas market president
Sections SEARCH Skip to content Skip to site index Subscribe Log In Subscribe Log In Today’s Paper Advertisement DealBook Supported by Sept. 21, 2018 Good Friday morning. On today’s episode of “The Daily,” the NYT’s news podcast, Andrew talks with Michael Barbaro about the 2008 financial crisis. You can listen on a computer , iOS device or Android device . (Was this email forwarded to you? Sign up here .) Bank of America’s investment banking arm lost a thirst for risk Bank of America quietly announced this week that its investment-banking chief, Christian Meissner, would step down by the end of the year. Now we may know why: He questioned the firm’s commitment to being a top-ranked investment bank, according to the FT. After buying Merrill Lynch a decade ago, it appeared eager. But in recent years its appetite for risk appears to have diminished: It avoided some plum work, like … [Read more...] about DealBook Briefing: Does Bank of America Care About Investment Banking?
By Wire Services | Mercury News, Bay Area News GroupPUBLISHED: July 30, 2018 at 3:26 pm | UPDATED: July 30, 2018 at 3:31 pm By Rick Montgomery, The Kansas City Star (Kansas City, Mo.) Josh Collins and wife Jessica Salazar Collins were mystified: Why would the Bank of America, where they’ve banked since the early 2000s, suddenly ask questions about Josh’s citizenship? He was born in Wichita, Kan. So this thoroughly American couple ignored a form that the bank mailed them about a month ago asking, among other things, whether Josh Collins was a citizen or could claim dual citizenship with another country. Jessica said she tossed the letter because she and Josh “thought it was a scam.” – until the bank cut off access to their money. Bank of America said it was standard practice to ask about citizenship status when opening a new account or updating customer information on an existing one. “Like all financial institutions, we’re required by law … [Read more...] about Bank of America asked member for proof of citizenship and may ask you, too
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