Bank of America

Brian Moynihan
Bank of America

Bank of America shareholders will vote Tuesday on whether chief executive Brian Moynihan should continue to also serve as the company’s chairman.   The issue has been brewing for several years. 

Shareholders voted back in 2009 to separate the CEO and chairman roles.   But in a controversial move last year, the Bank of America board changed the company’s by-laws to allow one person to hold both titles.   

North Carolina is giving $5 million in grants to a television pilot, an HGTV show and an independent film under the state incentives program.  On Friday, Commerce Secretary John Skvarla announced the grants, which were chosen from 17 applications. 

Two of the largest public pension funds in America are calling for Bank of America to strip Brian Moynihan of his joint title of Chairman and CEO.

Last October the Bank of America board of directors changed the company bylaws and combined the positions of Chairman and CEO. It was a controversial move. In a response to criticism, the Board allowed for a shareholder vote on the move which scheduled for later this month. 

Bank of America is one of six financial institutions hit with a total of nearly $1.8 billion in fines Wednesday by the Federal Reserve. The fines stem from foreign currency trade violations. 

Bank of America shareholders Wednesday re-elected the bank’s board of directors at its annual meeting despite intense opposition from two shareholder advisory firms. The opposition stemmed from the bank’s decision last fall to also make CEO Brian Moynihan the bank’s chairman. Shareholders also affirmed the board’s decision to give a $13 million compensation package to Moynihan.

Shareholders re-elected Bank of America’s board of directors at today’s annual meeting despite intense opposition from two shareholder advisory firms. The opposition stemmed from the bank’s decision last fall to also make CEO Brian Moynihan the bank’s chairman. Many shareholders argued that should have been put up for a vote.

Shareholders also approved the board’s recent decision to drop Moynihan’s compensation package by a $1 million, to $13 million. All but $1.5 million of that is in company stock.

Ben Bradford / WFAE

Leaders of some of the region’s largest companies have high hopes for the coming year. At the Charlotte Chamber of Commerce’s annual Economic Outlook luncheon, CEOs of Bank of America and Duke Energy, among others, discussed the state of the economy, gas prices, health care, and regulation.


North Carolina’s U.S. Senator-elect Thom Tillis will serve on two military-related committees when he’s sworn in next month. Senate Republicans announced committee assignments  for the 114th Congress yesterday. Tillis will be on the Armed Services and Veterans’ Affairs Committees as well as agriculture and judiciary panels and a special committee on aging.

Mike Mozart/Flickr

Bank of America broke roughly even in its third quarter earnings, despite paying part of the massive, more than $16 billion settlement with the federal government over mortgage fraud that helped spur the financial crisis.


Courtesy of the the Center for Political Accountability and the Zicklin Center for Business Ethics Research

The amount of corporate money pumped into politics has surged in the four years since the U.S. Supreme Court decided the Citizens United case.

A new report, released Wednesday, examines how transparent the 300 largest public companies in America are about how much they give to political groups and where that money goes.

And some Charlotte area companies are ranked on the list.

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