Fed Says No To Largest Bank (NYSE: BAC), (NYSE: JPM), (NYSE: WFC), (NYSE: C)

The US government has declined approval for Bank of America (NYSE: BAC), America's largest bank by assets to increase their dividend in the second half of the year. Other US Banks including JP Morgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC) and Citigroup (NYSE: C) have already raised their dividend. Citigroup, which was seen as the most troubled of the largest banks was able to get a 1-cent per share dividend and approve a reverse stock split. The fed is likely requiring BAC to have a higher capital standard as it is the largest bank in the country. Investors may have to wait slightly longer for the unfavored bank to increase its once bountiful dividend. BAC has been paying 1-cent par share since 2009. To read the premium BAC report click here.