Bank of America – News Stories About Bank of America - Page 6

Bracing for WikiLeaks, BofA Buys Nasty Domain Names

They're terrified someone will start blogs saying executives suck, blow

(Newser) - Despite reports to the contrary, Bank of America hasn’t actually been confirmed as WikiLeaks’ next target, but it appears to think it is. The company has reportedly created a “war room” to brainstorm ways to minimize the damage, according to Fast Company . One of those methods? Buying up...

Bank of America
Cuts Off WikiLeaks

Dec 18, 2010 12:19 PM CST

Bank of America Cuts Off WikiLeaks

It's stopped processing any transactions related to the site

(Newser) - A new target for the Anonymous hacker crew ? Bank of America says it will no longer handle any business related to WikiLeaks, reports the Charlotte Observer . Others that have done so, including MasterCard, Visa, and PayPal, have come under cyber attack from supporters of WikiLeaks in the ether. The...

Arizona, Nevada Sue
Bank of America

UPDATED

Dec 18, 2010 6:36 AM CST

Arizona, Nevada Sue Bank of America

State alleges bank misled homeowners who lost their houses

(Newser) - Attorneys general in two states filed civil lawsuits yesterday against Bank of America, alleging that the lender is misleading and deceiving homeowners who have tried to modify mortgages in two of the nation's most foreclosure-damaged states. Bank of America violated Arizona's consumer fraud law by misleading consumers who tried to...

Bank of America Denies Being WikiLeaks Target

Dec 1, 2010 1:39 AM CST

Bank of America Denies Being WikiLeaks Target

No proof of upcoming 'megaleak,' spokesman says

(Newser) - Bank of America is firmly denying rumors that it's the target Julian Assange was talking about when he promised a "megaleak" of a financial institution's internal documents. Assange told an interviewer last year that he had "5GB from Bank of America, one of the executive's hard drives."...

Be a 'Foreclosure
Supervisor'—for $10 an Hour

Nov 6, 2010 4:00 PM CDT

Be a 'Foreclosure Supervisor'—for $10 an Hour

Pro Publica looks at want-ads, finds little has changed

(Newser) - In the wake of news that banks and law firms hired unqualified people to process the backlog of foreclosures, Pro Publica decided to spin through the want-ads to see whether things had changed. Not so much. The results varied, but "requirements for many foreclosure jobs—often advertised by staffing...

GMAC, BofA
Restarting
Foreclosures

UPDATED

Oct 19, 2010 9:17 AM CDT

GMAC, BofA Restarting Foreclosures

Two vast banks at center of crisis find no significant problems

(Newser) - Bank of America and GMAC, two huge players in the mortgage crisis, are moving to resume foreclosures, effectively ending a self-imposed moratorium meant to give them time to look for errors, the Wall Street Journal reports. A BofA spokesman said the bank would resubmit paperwork for 102,000 cases by...

BofA Moves to
Restart Foreclosures

BRIEF RESPITE

Oct 18, 2010 4:29 PM CDT

BofA Moves to Restart Foreclosures

Bank resubmits affidavits in 102,000 pending actions

(Newser) - Bank of America moved to re-start foreclosures today, moving to resubmit paperwork for 102,000 cases and effectively ending the moratorium it enacted to give it time to look for errors, the Wall Street Journal reports. A BofA spokesman said that so far "no cases" of improper foreclosures have...

Investors Flee Banks Over Mortgage Mess

Oct 15, 2010 8:15 AM CDT

Investors Flee Banks Over Mortgage Mess

Analysts estimate huge losses

(Newser) - Investors sent bank stocks plunging yesterday, as they finally started to worry about the mortgage robo-signing scandal. Up until now, investors have mostly assumed the crisis would blow over. But on Wednesday, 50 states announced investigations into mortgage servicing practices, and yesterday a San Francisco hedge fund circulated a report...

Dozens of States
Plan Foreclosure Probe

Oct 12, 2010 6:00 AM CDT

Dozens of States Plan Foreclosure Probe

Joint investigation may force lenders to rewrite large numbers of loans

(Newser) - A coalition of up to 40 state attorney-generals is preparing to launch a joint probe into allegations that mortgage-servicing firms used fraudulent paperwork to kick people out of their homes. Bank of America has already suspended evictions in all 50 states while it looks into "robo-signed" foreclosure documents, and...

White House
Not Backing
Foreclosure
Moratorium

Oct 10, 2010 1:46 PM CDT

White House Not Backing Foreclosure Moratorium

Says legit foreclosures need to go through

(Newser) - The wave of botched foreclosures is a "serious problem," David Axelrod told CBS today, but shutting the process down entirely isn't likely the solution because "there are in fact valid foreclosures that probably should go forward." "Our hope is this moves rapidly and that this...

Foreclosure Scandal Messing Up Home Sales

UPDATED

Oct 8, 2010 9:41 AM CDT

Foreclosure Scandal Messing Up Home Sales

Thousands of sales thrown into limbo

(Newser) - Hundreds of thousands of foreclosures have been thrown into limbo in the wake of revelations that major lenders didn’t properly review the foreclosure documents, creating a big mess for people trying to buy those homes, the New York Times reports. JPMorgan and GMAC have suspended foreclosures in the 23...

Bank of America: We Messed Up Foreclosures, Too

Oct 1, 2010 6:11 PM CDT

Bank of America: We Messed Up Foreclosures, Too

Nation's largest bank puts them on hold in 23 states

(Newser) - The chaos over foreclosures widens: Bank of America is putting them on hold in 23 states as it examines whether it rushed the process for thousands of homeowners without reading the documents. The move adds the nation's largest bank to a growing list of mortgage companies whose employees signed documents...

Big Banks Laundered Money for Mexican Drug Gangs

Jun 29, 2010 11:56 AM CDT

Big Banks Laundered Money for Mexican Drug Gangs

Wachovia handled $378.4 billion in drug money

(Newser) - Some of the biggest banks in the US have been helping to funnel hundreds of millions of dollars to Mexican drug gangs, Bloomberg reports. Wachovia, for example, has admitted in court that it didn’t do enough to spot the $378.4 billion in drug money the cartels handed off...

Kiss Your Free Checking Account Goodbye

Banks raise fees to make up for lost overdraft bonanza

(Newser) - The free checking account could soon be a thing of the past, as Bank of America and other banks introduce a pile of new fees, telling the Wall Street Journal that they need to replace revenue lost because of new regulatory rules protecting consumers from surprise overdraft fees. To avoid...

Liberals Push to
Toughen Bank Bill

May 3, 2010 7:21 AM CDT

Liberals Push to Toughen Bank Bill

See Goldman troubles as opening to break up banks, restore firewall

(Newser) - The Left is suddenly playing offense in the push for financial reform legislation, with liberal senators preparing a barrage of amendments to beef up the bill. One would break up the nation's six largest banks—Goldman Sachs, JPMorgan, Bank of America, Wells Fargo, Citigroup, and Morgan Stanley—whose combined assets...

BofA Forgiving $3B
in Mortgage Debt

Mar 25, 2010 6:54 AM CDT

BofA Forgiving $3B in Mortgage Debt

45K 'underwater' borrowers to be offered reduction

(Newser) - Bank of America is offering to slash mortgage-loan balances by up to 30% for thousands of delinquent borrowers who owe more than their homes are worth. The plan—part of an agreement to settle a lending-abuse suit—is one of the most ambitious moves yet to ease the foreclosure crisis,...

Bank Seizes House, Parrot of Wrong Borrower

Mar 11, 2010 8:36 AM CST

Bank Seizes House, Parrot of Wrong Borrower

Woman sues Bank of America after weeklong bird chase

(Newser) - A Pittsburgh woman is suing Bank of America, saying it padlocked her home, cut her water and electrical lines, and confiscated her pet parrot Luke while she was away—even though she wasn’t in default. The bank has apologized, but the woman, 46-year-old Angela Iannelli, says they didn’t...

BoA Scraps Debit Card
Overdraft Fees

Mar 10, 2010 8:09 AM CST

BoA Scraps Debit Card Overdraft Fees

Move comes ahead of regulations, could pressure other banks

(Newser) - Bank of America is scrapping overdraft fees on debit card purchases ahead of new federal regulations. As of this summer, overdrawn customers of the nation's largest debit card issuer will simply have their cards declined at the register—rather than ending up paying $40 for coffee or some other small...

Dow Drops 19,
Snaps 4-Day Win Streak

MARKETS

Feb 22, 2010 3:24 PM CST

Dow Drops 19, Snaps 4-Day Win Streak

Energy sector leads stocks lower; financials up on BofA settlement

(Newser) - Energy issues pushed stocks lower today after indexes hung around opening levels and briefly wandered into positive territory. Bank of America's settlement with the SEC over its acquisition of Merrill Lynch last year boosted financials, the Wall Street Journal reports.

The Dow fell 18.97 points to close at 10,

...

Axed Merrill
Boss Tapped
to Head CIT

Feb 8, 2010 5:30 AM CST

Axed Merrill Boss Tapped to Head CIT

Spendthrift John Thain gets hands on new troubled company

(Newser) - The CEO who spent $1.2 million renovating his office and arranged $3.6 billion in executive bonuses while his company, Merrill Lynch, was circling the toilet bowl, has just been named CEO of CIT Group. John Thain rises to the top of a public company again a year after...