BofA Finalizing Another Garage Sale - Things Are Bad
It's not breaking news
"For two years, BofA has been selling non-core assets. Pieces of the company that operate primarily overseas have been targeted, including foreign credit-card units and ownership stakes in banks based in China, Brazil and Spain.
CEO Brian Moynihan has said BofA needs to return to its core business of serving customers by trimming extra pieces inherited during a three-decade run of acquisitions."