Yahoo finance API is not available right now, please try again soon...
Home | Daily Dose | Crisis No Longer Haunts Bank of America
Print This Post Print This Post

Crisis No Longer Haunts Bank of America

MoneyWith the release of the company’s Q1 2016 earnings statement right around the corner, Bank of America CEO Brian Moynihan said in his letter to shareholders in the 2015 Annual Report that the bank is “no longer clouded over by heavy mortgage and crisis-related litigation and operating costs.”

Crisis-related litigation plagued Bank of America in 2014. The bank reached a settlement with the Department of Justice in August of that year for $16.65 billion over the sales of toxic mortgage-backed securities in the run-up to the financial crisis; litigation costs and other expenses related to that settlement took a big chunk out of the bank’s 2014 net income. The $16.65 billion settlement remains a record for a settlement between the Department of Justice and a single company over matters related to the 2008 financial crisis (it was eclipsed only by British Petroleum’s $20.8 settlement with the DOJ in October 2015 over the Gulf oil spill).

“This progress is the result of continued strong business performance, no longer clouded over by heavy mortgage and crisis-related litigation and operating costs,” Moynihan said. “Over the past several years, we’ve followed a strategy to simplify the company, rebuild our capital and liquidity, invest in our company and our capabilities, and pursue a straightforward model focused on responsible growth.”

For the full year of 2015, Bank of America more than tripled its net income from the previous year ($15.9 billion compared to $4.8 billion). The bank’s earnings for 2015 were the highest since the pre-crisis year of 2006 (net income of $21.1 billion).

“Other general operating expense decreased $16.0 billion primarily due to a decrease of $15.2 billion in litigation expense which was primarily related to previously disclosed legacy mortgage-related matters and other litigation charges in 2014,” the shareholder letter said.

Moynihan’s announcement follows what was largely a positive second half of 2015 for Bank of America. In November, independent monitor Eric Green reported that the bank was well ahead of schedule to pay off the $7 billion in consumer relief required by the August 2014 RMBS settlement. In December, the Federal Reserve approved the bank’s resubmitted capital plan after spending approximately $100 million to “get the process right for resubmission,” Moynihan said. Nine months earlier, the Fed announced that Bank of America must submit a revised capital plan due to certain weaknesses in the Charlotte, North Carolina-based bank’s capital planning process the Fed located in its annual Comprehensive Capital Analysis and Review (CCAR) conducted in early March 2015.

Bank of American’s earnings statement for the first quarter of 2016 will be released on Thursday, April 14.

Click here to view the entire 2015 Annual Report for Bank of America.

About Author: Brian Honea

Brian Honea
Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.


  1. Pingback: Crisis No Longer Haunts Bank of America - Appraisal Buzz

  2. Pingback: Crisis No Longer Haunts Bank of America - Brokers TitleBrokers Title

  3. Pingback: Bank Of America Mortgage Foreclosure Settlement | Rates for CPA Services for SMB

  4. Pingback: Ruksis780

  5. Pingback: xmt85c4wx5ctwxw3tcerthve56

  6. Pingback: define alcoholic

  7. Pingback: دانلود قسمت هشتم شهرزاد دوم

  8. Pingback: دانلود شهرزاد قسمت هفتم فصل دوم

  9. Pingback: دانلود قسمت ششم فصل دوم شهرزاد

  10. Pingback: Violet Starr

  11. Pingback: Elsa Jean

  12. Pingback: Nicole Aniston

  13. Pingback: August Ames

  14. Pingback: Mia Malkova

  15. Pingback: hamptonbaycelingfanblog

  16. Pingback: دانلود قسمت هفتم فصل دوم شهرزاد

  17. Pingback: Cherry Hilson

  18. Pingback: scissor lift service

  19. Pingback: دانلود قسمت دوازه عاشقانه

  20. Pingback: دانلود قسمت اول شهرزاد دوم

  21. Pingback: Hunde tshirts

  22. Pingback: دانلود قسمت 11 شهرزاد 2

  23. Pingback: دانلود قسمت سوم شهرزاد دوم

  24. Pingback: دانلود قسمت اول شهرزاد دوم

  25. Pingback: دانلود قسمت سیزده عاشقانه

  26. Pingback: under armour sale australia

  27. Pingback: medical college in India with 45% marks

  28. Pingback: Brakhage

  29. Pingback: porno

  30. Pingback: porno

  31. Pingback: porno gratis

  32. Pingback: porno gratis

  33. Pingback: porno

  34. Pingback: porno

  35. Pingback: porno gratis

  36. Pingback: porno gratis

  37. Pingback: porno gratis

  38. Pingback: porno

  39. Pingback: porno gratis

  40. Pingback: porno

  41. Pingback: videos porno

  42. Pingback: شرکت تولیدی پنجره

  43. Pingback: دانلود فیلم سریال عاشقانه

  44. Pingback: قیمت پنجره دوجداره

  45. Pingback: دانلود قسمت هفدهم عاشقانه

  46. Pingback: پنجره دوجداره وین تک ویستابست

  47. Pingback: پنجره دو سه جداره ساخت فروش در ایران

  48. Pingback: CBD Lotion

  49. Pingback: Facial Spa Services Pompano Beach

  50. Pingback: پنجره دوجداره

  51. Pingback: فروش توری

  52. Pingback: amazon groin wrap

  53. Pingback: دانلود قسمت پنجم شهرزاد دوم

  54. Pingback: cheap hotels

  55. Pingback: free zynga poker chips

  56. Pingback: sexy men underwear

  57. Pingback: پنجره دوجداره

  58. Pingback: coin-banks cryptocurrency

  59. Pingback: coin-banks bitcoin

  60. Pingback: magazin de pescuit

  61. Pingback: coin-banks

  62. Pingback: coin-banks

  63. Pingback: braun oral b vitality 3d white

  64. Pingback: coin-banks

  65. Pingback: coin-banks exchange

  66. Pingback: rookie baseball card collection

  67. Pingback: le site internet

  68. Pingback: anime

  69. Pingback: vpm

  70. Pingback: دانلود شهرزاد 13

  71. Pingback: دانلود سریال شهرزاد قسمت 15

  72. Pingback: دانلود شهرزاد قسمت 13

  73. Pingback: دانلود سریال شهرزاد قسمت 15 پانزده

  74. Pingback: Accounting firms in chicago

  75. Pingback: Strasbourg tourist guide

  76. Pingback:

  77. Pingback:

  78. Pingback: sòng b?c tr?c tuy?n

  79. Pingback: "spring bed"

  80. Pingback: Visit This Link

  81. Pingback: دانلود سریال شهرزاد قسمت 16

  82. Pingback: Bethanie

  83. Pingback: دانلود شهرزاد قسمت 16

  84. Pingback: Roofing Long Island

  85. Pingback: دانلود فیلم ایرانی

  86. Pingback: 食品

  87. Pingback: دانلود

  88. Pingback: truck

  89. Pingback: دانلود عالیجناب دوم

  90. Pingback: automotive clutch repair

  91. Pingback: this is

  92. Pingback: game

  93. Pingback: political polls

  94. Pingback: Best Baby Crib Mattress

  95. Pingback: دانلود فیلم

  96. Pingback: پنجره ضد سرقت المانی

  97. Pingback: فروش توری

  98. Pingback: قیمت پنجره

  99. Pingback: شرکت تولیدی پنجره دوجداره المانی

  100. Pingback: پنجره دوجداره وین تک

  101. Pingback: taylormade r15 driver australia

  102. Pingback: Carpet Cleaning harker heights TX

  103. Pingback: los angeles black male strippers

  104. Pingback: Vancouver BC airport shuttle Northstarlimos

  105. Pingback: s�informer sur ce lien

  106. Pingback: coupon codes

  107. Pingback: guaranteed unsecured loans

  108. Pingback: دانلود فیلم

  109. Pingback: دانلود فیلم

  110. Pingback: Search Engine Optimisation Dublin

  111. Pingback: Double

  112. Pingback: how to buy bitcoin

  113. Pingback: دانلود فیلم

  114. Pingback: upvc window

  115. Pingback: پنجره دوجداره

  116. Pingback: GST Invoice Software

  117. Pingback: chiavari chair dolly

  118. Pingback: پنجره دوجداره

  119. Pingback: پنجره

  120. Pingback: پنجره

  121. Pingback: اموزش ساخت پنجره دوجداره

  122. Pingback: پنجره دوجداره

  123. Pingback: buy legal weed online cheap

  124. Pingback: viagra

  125. Pingback: IELTS centre in Karachi

  126. Pingback: مشاوره بازاریابی آنلاین

  127. Pingback: Mitch McConnell

  128. Pingback: walmartone login

  129. Pingback:

  130. Pingback: visit this site

  131. Pingback: Limos Bus Vancouver BC

  132. Pingback: Puppies Singapore

  133. Pingback:

  134. Pingback: waterfall shower head

  135. Pingback: walmart1

  136. Pingback: buy proxies

  137. Pingback: buy 1 million youtube views

  138. Pingback: download best

  139. Pingback: window

  140. Pingback: window

  141. Pingback: for kids

  142. Pingback: Yakima Business

  143. Pingback: plumbers

  144. Pingback: you can try these out

  145. Pingback: Bad Baby

  146. Pingback: instagramda sex izle

  147. Pingback: پنجره

  148. Pingback: EVA TV

  149. Pingback: پنجره دوجداره

  150. Pingback: پنجره

  151. Pingback: قیمت پنجره

  152. Pingback: drop shipping business

  153. Pingback: پنجره

  154. Pingback: plumbing repair

  155. Pingback: zobacz

  156. Pingback: Learn Colors for Kids

  157. Pingback: Lina

  158. Pingback: Web Design

  159. Pingback: yoga pants malaysia

  160. Pingback: Casino Malaysia

  161. Pingback: Bandar Ceme

  162. Pingback: Schlüsselnotdienst

  163. Pingback: leia

  164. Pingback: Web Design

  165. Pingback: uk top 40 music chart

  166. Pingback: for dip

  167. Pingback: دانلود

  168. Pingback: real casinos online

  169. Pingback: Test bank online

  170. Pingback: download

  171. Pingback: window

  172. Pingback: download movie

  173. Pingback: پنجره دوجداره

  174. Pingback: دانلود

  175. Pingback: Denver virtual staging

  176. Pingback: دانلود

  177. Pingback: garden bridges New York

  178. Pingback: پنجره

  179. Pingback: garden bridges San Jose

  180. Pingback: Bad Credit Remortgages

  181. Pingback: best real estate wordpress theme

  182. Pingback: patio

  183. Pingback: More here

  184. Pingback: home maker on the edge

  185. Pingback: Amanda

  186. Pingback: watch it movie streaming

  187. Pingback: Judi Online

  188. Pingback: Easiest Way To Make Money Online

  189. Pingback: fast free proxy list

  190. Pingback: recruitment

  191. Pingback: buy hacklink google

  192. Pingback: Best Piles Doctor in delhi

  193. Pingback: pink mods vape

  194. Pingback: send car overseas

  195. Pingback: learn colors with soccer balls

  196. Pingback: test bank solutions

  197. Pingback: Judi Togel

  198. Pingback: Private Tour

  199. Pingback: payday loans

  200. Pingback:

  201. Pingback:

  202. Pingback: boxing gloves

  203. Pingback: پنجره دوجداره

  204. Pingback: usuwanie dpf

  205. Pingback: پنجره

  206. Pingback: پنجره

  207. Pingback: love compatibility between a leo woman and gemini man

  208. Pingback: دانلود سریال شهرزاد

  209. Pingback: headhunter

  210. Pingback: Infant car seat cover

  211. Pingback: دانلود فیلم نهنگ عنبر 2

  212. Pingback: Baby car seat cover

  213. Pingback: fursuit porn

  214. Pingback: free iphone porn

  215. Pingback: multi-use nursing cover

  216. Pingback: real caller blackberry

  217. Pingback: Canada Goose Jacka Billigt

  218. Pingback: Online Sportsbook Malaysia

  219. Pingback: Related Site

  220. Pingback: abc

  221. Pingback: The Bavarian Football

  222. Pingback: missguided coupon code

  223. Pingback: Taruhan Olahraga

  224. Pingback:

  225. Pingback: porn movie

  226. Pingback: free android porn

  227. Pingback: try this web-site

  228. Pingback: game free

  229. Pingback: my site check here

  230. Pingback: Deposit Gampang Judi Online

  231. Pingback: link98

  232. Pingback: ATHENS HOTELS

  233. Pingback: لینکدونی فروش

  234. Pingback: ΚΟΥΠΟΝΙ ΟΠΑΠ

  235. Pingback: USAA Bank

  236. Pingback: Finger Family

  237. Pingback: singapore corporate gift

  238. Pingback: Oddsmonkey

  239. Pingback: free vedic report


  241. Pingback: Oddsmonkey

  242. Pingback: Oddsmonkey

  243. Pingback: Oddsmonkey

  244. Pingback: Oddsmonkey

  245. Pingback: Oddsmonkey

  246. Pingback: Oddsmonkey

  247. Pingback: Oddsmonkey

  248. Pingback: Oddsmonkey

  249. Pingback: somulin

  250. Pingback: stainless steel kitchen

  251. Pingback: zenofem reviews

  252. Pingback: www.consumerhealthdigest

  253. Pingback: omega xl

  254. Pingback: www.consumerhealthdigest

  255. Pingback: دانلود فیلم نهنگ عنبر

  256. Pingback: Baby breastfeeding cover

  257. Pingback: avakin life hack lucky patcher

  258. Pingback: Sell illegal backlinks

  259. Pingback: switchable privacy film

  260. Pingback: Hakukoneoptimointi Espoo

  261. Pingback: mobile phone accessories

  262. Pingback: richard

  263. Pingback: Radhe Maa

  264. Pingback: Read Full Report

  265. Pingback: news 24

  266. Pingback: Bitcoin News

  267. Pingback:

  268. Pingback:

  269. Pingback: meble technorattan cloveris

  270. Pingback: buy viagra online

  271. Pingback: old computer recycling

  272. Pingback: free porn tube

  273. Pingback: Tri-Cities Ipad repair

  274. Pingback: IT Asset recycling berkshire

  275. Pingback: check this out

  276. Pingback: essays done for you

  277. Pingback: Yahoo Finance

  278. Pingback: essay writing examples

  279. Pingback: law essay writing services

  280. Pingback: Danie

  281. Pingback: libro de mierda

  282. Pingback: ways to make breasts bigger

  283. Pingback: Peter Schatzberg Miami

  284. Pingback: assemblee de martinique

  285. Pingback: credit ranges

  286. Pingback: porn city

  287. Pingback: organik zeytinyağı

  288. Pingback: programa de ventas

  289. Pingback: pirater un compte facebook

  290. Pingback: Professional Ant Control

  291. Pingback: aparate aer conditionat 9.000 - 12.000 btu montaj rapid

  292. Pingback: buy viagra online

  293. Pingback: momschips

  294. Pingback: hacklinks

  295. Pingback: buy google hacklink

  296. Pingback: michael kors australia

Leave a Reply

Scroll To Top