Bank of America

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Justice Department sues Bank of America over mortgage fraud

Oct 24, 2012
The Justice Department says Countrywide Financial -- which B of A bought in 2008 -- cranked out bad home loans without proper checks to make sure they were legit, and then sold those mortgages to Fannie Mae and Freddie Mac.
Posted In: Bank of America, Countrywide, mortgage fraud, Fannie Mae, Freddie Mac

Bank of America settles suit over Merrill Lynch deal

Sep 28, 2012
Bank of America will pay $2.4 billion to shareholders who accused it of withholding negative information about Merrill Lynch's finances.
Posted In: Bank of America, Merrill Lynch, settlement

Bank of America settles $2.4 billion lawsuit

Sep 28, 2012
Bank of America will pay $2.4 billion to shareholders as part of a settlement announced this morning. It's compensation for maybe not sharing the whole story when B of A bought the failing brokerage Merrill Lynch in 2008.
Posted In: Bank of America, Merrill Lynch, banking, settlement

Bank of America to cut home lending, branches

Sep 20, 2012
Bank of America, bloated by national expansion and saddled with bad mortgages, is speeding up its plan to cut 30,000 jobs. The Wall Street Journal says the bank could reach its downsizing goal a year early.
Posted In: Bank of America, too big to fail, job cuts

Bank of America announces 16,000 layoffs

Sep 20, 2012
Bank of America is accelerating plans to cut costs by laying off workers. According to the Wall Street Journal, the bank has set a target of cutting 16,000 jobs by the end of this year -- about 6 percent of the bank's workforce.
Posted In: banking, Bank of America, layoffs

Bank of America reports $2.5 billion profit

Jul 18, 2012
Bank of America just reported its quarterly earnings and they're better than expected: $2.5 billion in profit. What does that mean for the U.S. economy on the whole?
Posted In: Bank of America, Earnings

Banks try to adopt mortgage settlement rules

May 9, 2012
The big 49-state deal on mortgages was supposed to help clear the foreclosure backlog. So how are the banks faring now?
Posted In: Housing, Bank of America, mortgage settlement

What to learn from this season's earnings

Apr 19, 2012
The corporate earnings reports are flooding in this morning, with companies like Southwest Airlines and Verizon telling us how they did in the first part of this year. In recent quarters, companies have padded their profits by cutting costs.
Posted In: Bank of America, Taco Bell, Earnings, corporate profits

Activists take on Bank of America with fake website

Apr 19, 2012
"Your Bank of America" offers fake customer testimonials that take aim at the major institution's marketing and brand.
Posted In: Bank of America, satire

BofA launching program for at-risk homeowners

Mar 23, 2012
Bank of America is launching a pilot program where homeowners who are at risk of foreclosure would hand over the deed to their house and then rent it back from the bank.
Posted In: Housing, foreclosure, Bank of America

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