At Wednesday's annual shareholder meeting, Bank of America investors rejected a series of stockholder proposals, including one to keep the jobs of chairman and CEO separate, and another that required the bank to prepare a gender pay gap report.
The idea of separating the chairman and CEO jobs came from major shareholder advisory firms. They wanted to reverse a policy adopted in 2015 which allows CEO Brian Moynihan to hold both titles. If approved, the plan would have required the bank to split the positions whenever a new CEO was selected. The bank had urged a vote against the proposal, saying in a federal regulatory filing that there's no evidence that an independent chair leads to better company governance or performance.
Still, about 33 percent voted in favor of the idea. That was a large vote against the company's recommendation, but not enough to adopt the change.
Wednesday's meeting comes a week after the bank posted sound first-quarter earning of $4.9 billion, representing a 40 percent increase from a year ago.
David Boraks contributed to this report
CMPD Charges Man With 2016 Fatal Shooting
More than a year after the death of 26-year-old Shawn Harbin, Charlotte-Mecklenburg police have arrested and charged 32-year-old Talvi Moore with murder.
Police believe Moore fatally shot Harbin in a residential neighborhood in northwest Charlotte on March 22, 2016. Moore was arrested Wednesday and brought to police headquarters for interviewing. He's since been transferred to the Mecklenburg County Sheriff's office.
Police Investigating Fatal Crash Involving Teenage Driver
CMPD is investigating after a teenage driver fatally crashed into a concrete pillar on E. John Belk Freeway in the early hours of Wednesday morning.
Police say the crash occurred around 1:49 a.m. Police believe the driver, 16-year-old William Blottman, was traveling at a high rate of speed before losing control and striking the pillar, which supports the E. 7th Street Bridge. Blottman was not wearing a seatbelt at the time of the crash, according to police.
5 Hurt When Pickup Truck, South Carolina School Bus Collide
Five people were hurt when a pickup truck and South Carolina school bus collided. The wreck happened shortly after 7:30 a.m. Wednesday near Greer.
Four students were taken to a hospital with injuries that were not considered life-threatening. Greer police spokesman Jim Holcombe says the driver of the pickup truck was trapped for more than an hour before he could be taken to a hospital. There was no immediate word on his condition.
Greenville County schools spokeswoman Beth Brotherton said there were 20 Greer middle and high school students on the bus.
