Bank of America is accelerating plans to cut costs by laying off workers. According to the Wall Street Journal, the bank has set a target of cutting 16,000 jobs by the end of this year — about 6 percent of the bank's workforce.

Bank of America just reported its quarterly earnings and they're better than expected: $2.5 billion in profit. What does that mean for the U.S. economy on the whole?

The big 49-state deal on mortgages was supposed to help clear the foreclosure backlog. So how are the banks faring now?

The corporate earnings reports are flooding in this morning, with companies like Southwest Airlines and Verizon telling us how they did in the first part of this year. In recent quarters, companies have padded their profits by cutting costs.

"Your Bank of America" offers fake customer testimonials that take aim at the major institution's marketing and brand.

Bank of America starts a foreclosure-prevention program that lets borrowers give up ownership of their home but stay on rent-paying tenants.

Turns out American banks are in a much better position financially than we thought.

The bank is reportedly currently testing different fee models — including monthly charges of anywhere from $6 to $25. This comes after a pushback last year against a $5 monthly debit card fee.

While some banks are being encourage to lend more, pressure is also coming from regulators to crack down on riskier customers.