Banking

They are the biggest of the big - the Citigroups, the Goldman Sachses, the AIGs and other financial behemoths. The Obama administration doesn't want so many around anymore.

Wells Fargo today officially unveiled the new brand name for its investment banking and capital markets unit and signaled plans to build a business largely inherited from Charlotte-based Wachovia.

Congressional testimony and documents released today shed new light on the Federal Reserve's concerns about Bank of America Corp.'s management following the near unraveling of its Merrill Lynch & Co. purchase in December.

Bank of America says it has now bolstered its capital position by more than the $33.9 billion required by the government.

Federal Reserve Chairman Ben Bernanke told Congress Thursday he didn't pressure Bank of America into acquiring Merrill Lynch in a deal that ultimately cost taxpayers $20 billion.

The Federal Reserve sought to keep other regulators in the dark about problems last year with Bank of America Corp.'s Merrill Lynch & Co. purchase, according to sources familiar with documents obtained by the House committee probing the deal.

San Francisco-based Pacific Coast Bankers' Bancshares said it hired five bankers from Silverton Bridge Bank for its Charlotte-based East Coast operations.

Bank of America Corp. today said the common stock it's offering to exchange with preferred shareholders will be priced at about $12.70 per share.

Bank of America Corp.'s retired chief financial officer, Jim Hance, has been elected to the Morgan Stanley & Co. board, the New York investment bank announced today.

Sooner or later, almost everyone gets caught up, somehow, in the layoffs sweeping this city.