Wednesday, May 9, 2012

Big crowds of shareholders, demonstrators expected for BofA meeting

Welcome to the morning roundup. In honor of Bank of America's annual shareholders meeting in Charlotte, here's a look at a few BofA-related stories from around the Internet.

Shareholders out? Corporate governance expert Eleanor Bloxham wonders in Fortune whether shareholders will be kept out of the BofA meeting. Some shareholders were kept outside of Wells Fargo and Peabody Energy's meetings because of admissions procedures - but "annual meetings are an important shareholder right," she writes.

What's in store. Reuters offers this preview of the annual meeting, highlighting the expected swarms of protests and shareholder votes ahead. Advocacy groups predict bigger crowds than in years past.

Test run. Protests before the shareholders meeting today are a glimpse of what's to come during the Democratic National Convention, the Huffington Post writes.

Moynihan tops list. Bank analyst Michael Mayo ranked BofA's Brian Moynihan the worst big-bank CEO in the U.S., based on the company's stock performance, Fortune writes. Since the CEO took the helm in early 2010, the bank's shares have fallen 42 percent, worse than other big lenders.

Mortgage delays. Borrowers looking to take advantage of low mortgage rates might face slow service and long delays, the Wall Street Journal reports. One homeowner who called BofA this year was told the company was "swamped with business" and would call him back in a few months, the story says.