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Bank of America is vacating a 51/2-story building in Ballantyne Corporate Park, the Charlotte bank’s latest move to shrink the amount of office space it occupies.

A former Bank of America trading desk manager will not serve prison time for his role in a scheme to falsify municipal bond records, a federal judge ruled Friday.

Energy startup accelerator CLT Joules has added three new companies that will get infrastructure support, mentoring and connections to prospective customers.

A man accused of running a Ponzi scheme that bilked about 25 Charlotte investors out of more than $2.5 million has pleaded guilty to securities fraud, U.S. Attorney Anne Tompkins announced Thursday.

Park Sterling Corp. said Thursday its second-quarter profit available to shareholders declined from a year ago as the bank’s ongoing growth pushed its expenses higher.

Bank of America has agreed to a settlement with the U.S. Treasury Department over claims it may have processed transactions for foreign drug traffickers from 2005 to 2009 in violation of sanctions.

NC Attorney General Roy Cooper said Wednesday he is suing a California mortgage-relief company for collecting illegal upfront payments, joining a nationwide sweep against such businesses by regulators and other states.

Winston-Salem-based BB&T Corp. has set aside millions of dollars after learning the federal government will look into its mortgage practices.

Rodney Durham stopped working in 1991, declared bankruptcy and lives on Social Security. Nonetheless, Wells Fargo lent him $15,197 to buy a used Mitsubishi sedan.

Synchrony Financial, the consumer-credit business being spun off by General Electric, is seeking a market value of as much as $22 billion in what may be the biggest U.S. initial public offering this year.

The European Central Bank gave more details Thursday on what is shaping up as by far the most rigorous review of the health of eurozone banks. The bank will disclose the results in late October, and then troubled lenders will have only two weeks to come up with a plan to raise new capital.

Bank of America has resumed talks with the U.S. Department of Justice to resolve a variety of civil probes, indicating momentum may be building for the Charlotte bank’s largest mortgage settlement yet.

JPMorgan Chase, the nation's largest bank by assets, said Tuesday its second-quarter earnings fell 9 percent as revenue at its investment banking and mortgage businesses dropped.

Goldman Sachs said Tuesday that its quarterly profit rose 5 percent, helped by record results from investment banking.

Now that Citigroup has announced a roughly $7billion settlement with the government over mortgage bonds, attention shifts to a proposed resolution with Bank of America to end similar probes.

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Bank Watch

Five years after a global financial meltdown shook Charlotte, some insiders say banks still vulnerable to risk.


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