Bank of America Corp
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Financials : Banks | Large Cap Value
Company 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.

Closing Price
$28.11
Day's Change
1.33 (4.97%)
Bid
--
Ask
--
B/A Size
--
Day's High
29.01
Day's Low
27.88
Volume
(Heavy Day)
Volume:
118,767,892

10-day average volume:
88,272,532
118,767,892

UPDATE: Trump meets bank chiefs as coronavirus declared pandemic and Dow falls into bear market

4:50 pm ET March 11, 2020 (MarketWatch)
Print

By Robert Schroeder, MarketWatch

President plans 9 p.m. speech on response to virus outbreak

President Donald Trump met with the heads of major banks Wednesday as the coronavirus was declared a pandemic and the Dow Jones Industrial Average closed in a bear market.

Trump met at the White House with the chief executives of Bank of America (BAC), Citigroup (C), Wells Fargo (WFC) and other institutions, as the World Health Organization designated the global spread of COVID-19 a pandemic.

The president said he would make a statement at 9 p.m. Eastern Wednesday.

"We are talking about various forms of stimulus," Trump said, telling reporters there will be economic and health announcements.

The Dow fell into a bear market Wednesday, closing more than 20% off its all-time closing high in a broad selloff attributed in part to disappointment in the lack of quick action on fiscal stimulus to cushion the economy from the effects of the spread of COVID-19 (http://www.marketwatch.com/story/dow-closes-in-bear-market-as-stocks-suffer-another-plunge-2020-03-11).

Now see:Mnuchin says broad economic response to coronavirus will have to wait, backs smaller plan (http://www.marketwatch.com/story/mnuchin-says-broad-economic-response-to-coronavirus-will-have-to-wait-backs-smaller-plan-2020-03-11).

As released by the White House, the list of banking leaders joining Trump consisted of: Rob Nichols, president and CEO of the American Bankers Association; Brian Moynihan, chairman of the board and CEO of Bank of America; Stephen Schwarzman, the chairman and CEO of Blackstone (BX); Ken Griffin, the CEO of Citadel; Michael Corbat, the CEO of Citi; Richard Hunt, the president and CEO of the Consumer Bankers Association; David Solomon, the chairman and CEO of Goldman Sachs (GS); Rebeca Romero Rainey, the president and CEO of the Independent Community Bankers of America; Gordon Smith, the co-president and COO of JPMorgan Chase (JPM); Kelly King, the chairman and CEO of Truist Financial (TFC); Andrew Cecere, the chairman, president and CEO of U.S. Bank (USB); and Charlie Scharf, the CEO and president of Wells Fargo & Company.

Sign up for Trump Today and more MarketWatch newsletters (http://www.marketwatch.com/newsletters).

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

(END) Dow Jones Newswires

March 11, 2020 16:50 ET (20:50 GMT)

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