Bank of America’s headquarters in Charlotte, North Carolina. Image source: iStock/Thinkstock.
It’s been three years in the making, but it’s finally happened: Bank of America (NYSE: BAC) emerged from both rounds of this year’s stress test unscathed, clearing the way for the nation’s second biggest bank by assets to boost its dividend by 50% and repurchase $5 billion worth of stock over the next 12 months.