Tuesday, December 27, 2011

Morning roundup: Moynihan tells employees that more improvement is coming

Here's a look at what's news in banking and finance after the long weekend:

  • Bank of America CEO Brian Moynihan told employees in a year-end letter that the bank has strengthened its "risk culture" and is looking forward to more improvement in 2012, Bloomberg reports.
  • The New York Post calls Bank of America a "three-headed monster," telling executives to get rid of Countrywide and spin off Merrill Lynch.
  • The Associated Press has a primer on bank fees to scour your statement for.
  • While credit might be tighter for consumers, corporate borrowing is booming, CNBC says.


Anonymous said...

If everyone paid their mortgages in the same way bofa paid back TARP, which is to say in full with interest, they wouldn't have any problems.

Easier to blame companies than people I guess.

BAC_asswards said...

Wait, if they sell off CW & ML, they would almost be right back where they started. Two words: Risk Management.

Anonymous said...

Interesting, considering BAC is getting ready to lay off hundreds of risk professionals in its tech and ops organization. Nice "risk culture" there Brian. Kathy Bessant and her COO must get paid per head she sends to the gallows.