• Bank of America's Return to 1950s Style Banking Is Paying Off

    10 days ago - By Fortune

    No sooner had Brian Moynihan taken the helm of Bank of America at the start of 2010, than the giant lender suffered wave upon wave of giant, potentially fatal, losses on its stricken mortgage portfolio. From the start, Moynihan championed a highly conservative strategy of growing with today's customers instead of courting risky new ones. The idea was to attract more business from the folks who already banked mainly with BofA, and let go the customers who got their mortgage, and deposited their paychecks, at the cross-town competitor. If revenues grew with the overall economy, costs...
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