Wednesday, Oct. 19, 2011
Bank of America is no longer the nation's biggest bank.
J.P. Morgan-Chase now exceeds Bank of America's 2.2 trillion dollars in assets.
According to C.E.O. of Bank of America Brian Moynihan, the banking giant doesn't have to be the biggest; it has to be the best bank. Bank of America earned six billion dollars in the third quarter, although revenue was down in credit card, real estate and investment banking.
Moynihan also defends the decision to start charging customers five dollars a month to use a debt card. The fee is waived if your mortgage is through Bank of America.
Bank of America is no longer the nation's biggest bank.
J.P. Morgan-Chase now exceeds Bank of America's 2.2 trillion dollars in assets.
According to C.E.O. of Bank of America Brian Moynihan, the banking giant doesn't have to be the biggest; it has to be the best bank. Bank of America earned six billion dollars in the third quarter, although revenue was down in credit card, real estate and investment banking.
Moynihan also defends the decision to start charging customers five dollars a month to use a debt card. The fee is waived if your mortgage is through Bank of America.
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