What to Expect From BofA, Wells Fargo Earnings

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.

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

• $50 billion

• $53 billion

• $60 billion

• $55 billion

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

• 20%

• 15%

• 25%

• 10%

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

• 10 quarters

• 15 quarters

• 20 quarters

• 25 quarters

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

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