Merrill Lynch

Bank of America

Bank of America is simplifying branding for its wealth management and private banking operations by retiring two brands it inherited in the late 2000s: Merrill Lynch and US Trust. But it's keeping the Merrill Lynch bull. 

Groceries, cell phones, car payments and student loans — these are just some of the many expenses parents are taking over on behalf of their adult children. If you've wondered how much it all adds up to, a new study by Merrill Lynch and Age Wave has the answer.

Bank of America is paying $2.4 billion to settle a lawsuit over its acquisition of Merrill Lynch. Shareholders accused the Charlotte-based bank of lying about the shape both companies were in at the time of the deal.

The bank’s then-CEO Ken Lewis raved about buying Merrill Lynch in 2008.

“Acquiring one of the premier wealth management, capital markets and advisory companies is a great opportunity for our shareholders,” Lewis said at the time.