The Richest Woman in the World: How Gina Rinehart Earns her Billions
America's 10 Highest-Paid CEOs of 2011 (and How They Earned It)
In order to acclimate to this new, post-"too big to fail" era of banking, Bank of America Corp. (NYSE: BAC) is reportedly planning to close down some branches. However, the blue chip bank doesn't intend to shut down 10% of its branches, as reported earlier. Instead, said company spokesman James Mahoney, the size of the network "will come down modestly" in size during the next three- to five-year period.
At the end of June, BAC boasted 6,109 branches throughout the U.S., second only to Wells Fargo & Co. (NYSE: WFC). Mahoney clarified that the bank is not being pressured by regulators to reduce its scope, and it will continue to add new branches strategically, even as it shutters some outlets.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
