Bank of America is on the front lines of Wall Street’s effort to survive and prosper in the new regulatory world brought forth by the financial oversight bill passed on Thursday, the WSJ reports. Regulation could reduce BofA’s earnings by 11 per cent, well beyond its peers in terms of overall size — prompting it into a new strategy of getting customers to deepen their business, while increasing fees for banking services. Other banks aim to adapt their derivatives brokerage business in order to take advantage of the new rules, the NYT adds.

This entry was posted by Joseph Cotterill on Friday, July 16th, 2010 at 9:55 and is featured in The Lunch Wrap (16 Jul 2010) . Tagged with bank of america, derivatives, US financial reform. Edit this entry.