- MENU
- HOME
- SEARCH
- WORLD
- MAIN
- AFRICA
- ASIA
- BALKANS
- EUROPE
- LATIN AMERICA
- MIDDLE EAST
- United Kingdom
- United States
- Argentina
- Australia
- Austria
- Benelux
- Brazil
- Canada
- China
- France
- Germany
- Greece
- Hungary
- India
- Indonesia
- Ireland
- Israel
- Italy
- Japan
- Korea
- Mexico
- New Zealand
- Pakistan
- Philippines
- Poland
- Russia
- South Africa
- Spain
- Taiwan
- Turkey
- USA
- BUSINESS
- WEALTH
- STOCKS
- TECH
- HEALTH
- LIFESTYLE
- ENTERTAINMENT
- SPORTS
- RSS
- Investing
By Andrew Leckey
Q. I am a disgruntled
A. The question for shareholders is how quickly it can put past mistakes in the rearview mirror, significantly improve its controls and use its enormous size to greater competitive advantage.
It became the biggest U.S. bank following acquisitions of
It agreed to pay $8.5 billion and set aside $5.5 billion to settle claims by institutional clients that bought toxic mortgage securities. That settlement, under investigation by the New York attorney general, helped lead to a record $8.8 billion loss in the second quarter.
Meanwhile, an arbitration panel ordered a
Nonetheless, this consumer and small business bank is dominant in growing regions, its deposit base provides it with low-cost funding and management says it has ample capital. It operates in all 50 states, the District of Columbia and more than 40 countries.
Improving operations and pulling together disparate business units is key. Terry Laughlin, its negotiator of settlements for bad loans and foreclosure, has been named chief risk officer, starting late in the third quarter.
Consensus analyst rating of
It has potential to attract more affluent customers. Notably, on
The bank received the highest score for consumer data safety among top U.S. card issuers for the fifth consecutive year in a study by Javelin Strategy & Research. It is third-largest U.S. credit card issuer based on money spent using its cards.
Earnings are expected to increase 22 percent this year and 61 percent in 2012, according to Thomson Reuters. Five-year annualized growth rate is forecast as 8 percent compared to 9 percent expected for the banking industry.
Available at Amazon.com:
The Triumph of Value Investing: Smart Money Tactics for the Postrecession Era
Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back
What Investors Really Want: Know What Drives Investor Behavior and Make Smarter Financial Decisions
Investing - Bank of America Still Has Potential for Rebound | Successful Investing
© Andrew Leckey, Tribune Media Services
CAREERS | INVESTING | PERSONAL FINANCE | REAL ESTATE