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Here’s your Cheat Sheet to the week in Dow 30 financial stock news:
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Bank of America Corporation (NYSE:BAC): Current price $11.14
Several of the big banks are getting back to normal after more than four years after the financial crisis, but BofA and Citigroup (NYSE:C) are still having difficulties related to the past events. The two firms reported that substantial legal costs have undercut their fourth-quarter earnings, saying that the expenses originated in huge settlements involving their mortgage businesses.
After the last almost two years of pulling back from home lending, BofA might be readying for another go at the domestic mortgage business. Even now, the company is the fourth-largest mortgage lender in the United States and Chief Executive Brian Moynihan said at a December investor conference that his company intends to sell more mortgages through its 5,000-plus branches and is insistent upon ”growing that business.”
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