What to Expect From BofA, Wells Fargo Earnings

What to Expect From BofA, Wells Fargo Earnings

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Business

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The video discusses the financial strategies of Bank of America and Wells Fargo. Bank of America is focusing on reducing expenses to $53 billion by 2018, which may lead to job cuts. The bank's trading performance is also highlighted. Wells Fargo is dealing with legal issues, with investigations by the SEC and Department of Justice, and analysts are keen on updates regarding legal costs.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the expense target set by Bank of America for the end of 2018?

$50 billion

$53 billion

$60 billion

$55 billion

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

By how much did Bank of America's fixed income trading increase at the time of the report?

20%

15%

25%

10%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For how many consecutive quarters has Bank of America been cutting jobs?

10 quarters

15 quarters

20 quarters

25 quarters

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What major change was noted in Wells Fargo's recent quarterly report?

Increased profits

No major scandals occurred

Expansion into new markets

A new CEO was appointed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which government bodies are investigating Wells Fargo?

Federal Reserve and SEC

Federal Reserve and FBI

Department of Justice and SEC

FBI and Department of Justice