Bank of America loan to AT&T comes with fees – and risk

Wall Street banks are writing some of their biggest checks ever to fund AT&T Inc.’s takeover of Time Warner Inc. as they seek a bonanza of fees. But there’s a dose of concern that the $40 billion loan pledge may get caught up in a regulatory impasse. JPMorgan Chase & Co. has pledged $25 billion of the financing, with Charlotte-based Bank of America Corp. providing the rest, according to a person with knowledge of the matter who asked not to be identified without authorization to speak publicly.

Bank Watch

Bank of America: Rising profits, falling head count

Bank of America Corporation, based in Charlotte, NC, on Monday reported third-quarter profit of $4.96 billion, up 7 percent from a year ago. CEO Brian Moynihan, speaking on an earnings call, said Bank of America has continued to add sales positions while eliminating other jobs through automation.


Wells Fargo sales scandal costs the CEO his job

Wells Fargo Chairman and CEO John Stumpf is stepping down from the San Francisco-based bank he has led for nearly a decade, following intense scrutiny over a fake-accounts scandal that erupted last month. President and Chief Operating Officer Tim Sloan will replace him as CEO.