Tagged: Bank of America

BofA under secret regulatory sanction

Bailed out Bank of American reportedly is under a secret regulatory sanction — a memorandum of understanding — to overhaul its board and address risk and liquidity problems.  Six of its 16 directors have resigned since the sanction was imposed.  School of Management Professor James Post, an authority on corporate governance, says BofA should have […]

Bernanke: No pressure on BofA/Merrill deal

Fed Chairman Bernanke told Congress today the Fed did not threaten action against the Bank of America if last fall’s negotiations leading to BofA’s take over of Merrill Lynch had failed.  This amid reports the Fed kept other regulators out of the loop during the merger talks and that regulators secretly tightened their grip on […]

Wall Street compensation battles

With public heat on bonuses at bailed-out Wall Street banks, Citigroup and Bank of American reportedly may be joining Morgan Stanley in raising base salaries to make up for annual bonus limitations.  School of Management Professor Fred Foulkes, director of the Human Resources Policy Institute, can comment on the trend. Contact Fred Foulkes, 617-353-4281, ffoulkes@bu.edu

Feds pressure BofA to restructure board

School of Management Professor James Post, an authority on corporate governance and business ethics, says that Bank of America won’t be able to resist pressure from federal regulators to restructure the BofA board of directors. “Shareholders often cooperate to pressure CEOs and boards of directors to listen to their concerns. Rarely do such tactics produce major […]

Bank of America turmoil at the top

The ouster of Bank of America CEO Ken Lewis as its chairman is a turning point for shareholder activism at BofA, says School of Management Professor James Post, an expert in corporate governance and business ethics. “The vote to separate the jobs of board chairman and CEO ends Ken Lewis’ record of unchallenged leadership at […]

Dealing with the Merrill Lynch bonuses

School of Law Professor Tamar Frankel, an authority on securities law and legal ethics, says the SEC is in a tough spot reviewing whether bailed-out Bank of America broke the law by not disclosing to shareholders bonuses to executives at Merrill Lynch, which BofA had bought.  She suggests three ways to enforce the law, which could […]