The country's biggest bank, by assets, tries to assuage investors with plans to cut $5 billion in annual costs and trim weak businesses.

The bank, still digging itself out of the financial crisis, plans to cut thousands of workers as it struggles to regain investor confidence.

Bank of America could be laying off as many as 40,000 workers. A few years ago, it would have been hard to imagine the banking giant was spreading itself too thin.

To prove its balance sheet is strong, Bank of America is looking to get cash, and fast. The latest asset it is selling off? A large portion of its stake in a key Chinese bank.

Wall Street firms began preparing last week for backup plans in the case of disaster during Hurricane Irene. As the markets open this morning, it seems they avoided catastrophe.

Bank of America's stock dropped around 40 percent in recent months. So why is Warren Buffett about to hand them $5 billion?

The famed investor wanted a piece of Bank of America after its stock had been beaten down. And Bank of America eventually decided it could use an investment — $5 billion — from Buffett.

Shares of the biggest U.S. bank continue to take a beating over concerns about bad mortgages and possible write offs. How bad could it get?

The former credit card company has bought several banks and now is buying ING Direct, a large and popular online bank. It will become the nation's fifth-largest depository bank