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Financials : Banks | Large Cap ValueCompany profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Premarket

Last Trade
Delayed
$26.93
0.00 (0.00%)
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Volume
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Volume:
3,875

10-day average volume:
63,255,493
3,875

Ocasio-Cortez refuses to meet with bank executives | White House officials worry about being exposed by Mueller report

9:48 am ET April 16, 2019 (MarketWatch)
Print

By Robert Schroeder, MarketWatch

Ethics probe opened into Interior Secretary Bernhardt

Rep. Alexandria Ocasio-Cortez hasn't met with bank executives despite overtures made to her since she took office in January (https://www.foxbusiness.com/politics/ny-congresswoman-aoc-refuses-to-meet-with-banks-top-brass), according to a Fox Business report.

The New York congresswoman has chosen to have no relationship with bank chiefs at all, even as officials have reached out to discuss issues with her, Fox Business wrote. The report said sources at both JPMorgan Chase & Co. (JPM) and Citigroup (C) said Ocasio-Cortez hasn't met with the chief executives of those banks, whom she needled at a House Financial Services Committee hearing last week. And Fox Business said press officials at Goldman Sachs (GS), Bank of America (BAC) and Morgan Stanley (MS) wouldn't deny they have not met with the freshman Democrat.

Fox Business said a spokeswoman for Ocasio-Cortez didn't respond to requests for comment. The report notes the majority of New York City's elected officials regularly meet with executives from the big banks, which provide jobs to hundreds of thousands of city residents.

Worry at White House: NBC News reports some of the more than one dozen current and former White House officials who cooperated with Special Counsel Robert Mueller are worried that the version of his report expected to be made public on Thursday will expose them as the source of damaging information about President Donald Trump.

NBC, which cited multiple witnesses in the investigation, reported that some of the officials and their lawyers have sought clarity from the Justice Department on whether the names of those who cooperated with Mueller's team will be redacted (https://www.nbcnews.com/politics/white-house/white-house-officials-concerned-about-being-exposed-mueller-report-n994861) -- or if the public report will be written in a way that makes it obvious who shared certain details of Trump's actions that were part of the obstruction of justice probe. But DOJ has refused to elaborate. NBC reported that one person close to the White House said there is "breakdown-level anxiety" among some current and former staffers who cooperated with the investigation at the direction of Trump's legal team.

Now see:What to expect after Mueller report is released (http://www.marketwatch.com/story/bernie-sanders-escalates-feud-with-liberal-think-tank-what-to-expect-after-mueller-report-is-released-2019-04-15).

Bernhardt probe:The Interior Department's inspector general has opened an ethics investigation into Secretary David Bernhardt (https://www.usatoday.com/story/news/politics/2019/04/15/interior-secretary-david-bernhardt-faces-ethics-probe/3479099002/), USA Today reports. The probe came at the request of several Democratic lawmakers concerned the former oil and gas lobbyist, who also represented large water utilities, might have had conflicts of interests involving former clients while he was deputy secretary in 2017 and 2018. Bernhardt was confirmed by the Senate last week. A spokeswoman for Bernhardt said many of these issues have been looked at previously with no violations found.

O'Rourke underpaid taxes:Democratic presidential hopeful Beto O'Rourke and his wife appear to have underpaid their 2013 and 2014 taxes by more than $4,000 because of an error in the way they reported their medical expenses (https://www.wsj.com/articles/beto-orourke-underpaid-two-years-of-taxes-11555380021?mod=searchresults&page=1&pos=1), The Wall Street Journal reports, citing tax returns the couple released Monday. The Journal said the O'Rourkes took deductions for those costs without regard to the limit that only allowed that break for medical and dental expenses above 10% of income for people their age. An aide to O'Rourke, a former Texas congressman, said: "After becoming aware of this error, the accounting firm that prepared the filings was immediately informed and will file an amendment as appropriate."

Also see:As Buttigieg jumps in and Biden stays atop polls, these are the Democrats who are running for president (http://www.marketwatch.com/story/here-are-the-more-than-two-dozen-democrats-running-for-president-or-in-the-mix-2019-01-17).

Warren has largest campaign staff:Sen. Elizabeth Warren has hired the largest campaign staff in the run-up to the 2020 presidential election (https://www.reuters.com/article/us-usa-election-warren/elizabeth-warren-builds-largest-u-s-presidential-campaign-staff-idUSKCN1RS05W), Reuters reports, quickly building a payroll that far exceeds her Democratic rivals. According to disclosures filed with the Federal Election Commission, the Massachusetts senator had 161 employees already on her staff by the end of the first quarter. Her campaign says about half of the staff are positioned in the early primary states of Iowa, New Hampshire, South Carolina and Nevada.

-Robert Schroeder; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

April 16, 2019 09:48 ET (13:48 GMT)

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