Bank of America

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Banks settle again, homeowners to get relief

Jan 7, 2013
In a costly day of legal settlements, 10 banks agree to pay $8.5 billion to four million homeowners for mishandling their foreclosures.
Posted In: Bank of America, Banks, foreclosure, Fannie Mae, Freddie Mac
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Bank of America backs off fees, again

Dec 3, 2012
After reversing a plan last year to charge a monthly fee for debit cards, Bank of America reportedly is delaying new checking account fees.
Posted In: Bank of America, checking account, fees
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Feds sue Bank of America over 'hustle' home loans

Oct 25, 2012
Federal prosecutors in New York are accusing the bank of defrauding the government by rushing home loans through the approval process, then selling them to Fannie Mae and Freddie Mac.
Posted In: Bank of America, Countrywide, home loans, mortgage crisis
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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
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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
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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
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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
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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
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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
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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

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