BofA Weighs Sale of Overseas Wealth Business

(Meg)

ByStephen Ryan: Last month, Bank of America Merrill Lynch (BAC), became the first major bank to make a private REIT available to clients of its investment advisory business. The REIT offering: Jones Lang LaSalle Income Property Trust, formerly known as Excelsior LaSalle Property Fund Inc.

ByPaulina: Introduction

Bank of America could face action from regulators if the company is judged to have fallen short with measures to strengthen its business, the Wall Street Journal reported Tuesday.Bank of America has been operating under a memorandum of understanding since May 2009, following repeated regulatory tussles over the purchase of Merrill Lynch and a downgrade of its confidential supervisory rating.The Journal, citing people familiar with the situation, said the memorandum had identified governance, risk and liquidity management as problems that had to be fixed.

Bank of America is considering options for its main proprietary-trading desk that include a sale of the business as the giant bank prepares for regulatory changes in the U.S.

Bank of America is considering options for its main proprietary-trading desk that include a sale of the business as the giant bank prepares for regulatory changes in the U.S.

NEW YORK (Reuters) - Bank of America Corp said on Thursday it plans to eliminate 30,000 to 35,000 jobs over three years, reflecting its pending purchase of Merrill Lynch & Co and weaker business activity stemming from the economic recession.