Wells Fargo investors approve executive pay, CEO underscores risk controls [Yahoo! Finance Canada]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance Canada
compensation with a majority vote, including hiking CEO Charlie Scharf's 2023 package to $29 million. His compensation for 2022 was $24.5 million. Scharf told investors at the bank's annual meeting that it is investing in risk and control infrastructure, which became top priorities after a 2016 scandal in which employees had opened millions of fraudulent accounts, often to meet sales goals. Regulators mandated additional oversight and imposed a $1.95 trillion asset cap that prevents the San Francisco-based bank from growing until it has fixed the problems. ADVERTISEMENT "Our control environment has become increasingly stronger to numerous internal metrics and shows that the work is clearly improving in our control environment but we will not be satisfied until all of our work is complete," Scharf said. While analysts and investors have speculated that the asset cap will be lifted, executives have repeatedly said the decision is up to regulators. The lender still has eigh
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BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 5/17/24 - Form 424B2
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- BAC's page on the SEC website