Bank of America mulls trimming ops in U.S.: WSJ
HONG KONG (MarketWatch) — Bank of America Corp. has said it may scaling back its operations in some parts of the U.S. if it continues to struggle with its financial problems, according to a Friday report by The Wall Street Journal, which cited people familiar with the situation. The bank’s executives reportedly made the proposal in an emergency scenario put to the Federal Reserve Bank last year, the report said. No retreat in the form of branch closures or other moves that might entail losing customers is imminent, people close to the bank were cited as saying. Still, the report said that adding the retreat to a list of possible measures underscored the depth of financial difficulties faced by the bank.
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