Bank Of America

Bank of America has been fined $1.2bn for failing to detect potential money launder and other illegal activity ahead of its quarter three results. The US Treasury Department said the banking giant failed to report more than $5bn in suspicious activity to the government, claiming that $1bn of which p

The Financial Conduct Authority's (FCA) chair, Ashley Alder, faced calls to resign at the regulator's first public annual meeting in Edinburgh, as whistleblowers and campaigners challenged its decision to let one of its own non-executive directors investigate how it dealt with Simon Andreisz before

Barclays has hired one of Bank of America's most senior bankers as part of a shake-up of its investment bank team to compete with larger Wall Street rivals. The UK lender has hired Mike Joo to serve as co-chief executive at its investment bank, while Adeel Khan will be promoted to co-chief executive

Nationwide Building Society is planning to resell its Core Capital Deferred shares with aggregate proceeds of up to £100m. Bank of America, Citi, Jefferies and UBS Investment Bank have been mandated as joint lead managers for the transaction. The resale represents around 778,000 shares based o

The pound is poised for a strong performance, potentially becoming one of the year's best-performing major currencies, according to Bank of America. The bank predicts the pound will reach $1.35 by year-end and $1.41 by the close of 2025. This optimistic outlook is fuelled by expectations of "above t