Zachary Tracer

The long-awaited legislation to repeal and replace the Affordable Care Act proposes to phase out key parts of the law over several years.

Robert Benmosche, who is stepping down this weekend after five years as CEO of American International Group’s chief executive, said he learned in May that he had nine months to a year to live.

This week, for the third time, the biggest U.S. banks have sent regulators detailed plans for their own demise. The regulators’ response to those filings has been far less detailed.

Warren Buffett, who invested $5 billion in Bank of America, said he's confident the lender will overcome an accounting mistake that forced the firm to suspend an increased payout to shareholders.

Bank of America, which last month won approval to lift its dividend for the first time since the financial crisis, said it will suspend that increase and $4 billion of planned buybacks because of an error in its capital planning.

MetLife Inc., the largest U.S. life insurer, cut its advisor force by a third, eliminating 2,500 jobs as the company scales back variable annuity sales and turns to other nations for growth.

A cap that President Obama has proposed on the size of tax-advantaged retirement accounts is seen as potentially pushing savers to another product that limits payments to the government: life insurance.

Trades were placed one to two days after the orders arrived by fax or mail, causing some customers to get inferior prices from late 2003 until June 2011, the Financial Industry Regulatory Authority said in a statement.

Bank of America Corp. agreed to a $2.43 billion settlement with investors who suffered losses during its acquisition of Merrill Lynch & Co., resolving one of the biggest legal battles to stem from the takeover.

Prudential Financial Inc. has emerged as the lead bidder for Hartford Financial Services Group Inc.'s individual life insurance business, which may sell for about $1 billion, said two people with knowledge of the matter.