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Uncertainty In Bank Of America Should Lead Investors Elsewhere

Bank of America (NYSE:BAC) recently announced a shakeup of some of its top executives. July 23rd saw the announcement that Bruce Thompson, the CFO, and other top executives would be replaced. This comes after BAC failed to gain unconditional approval after the Federal Reserve carried out industry-wide stress tests. Some analysts see this as Brian Moynihan, BAC's CEO and Chairman, maneuvering to gain more influence over the institution. Moynihan's consolidation of power may work well for BAC as the bank has been struggling to regain its share price, while its peers, JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC), have seen their share prices rise above pre-crisis levels. BAC's share prices were above $50 a share pre-crisis, indicating that the bank has a long way to reach its full potential... READ MORE

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