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California Atty. General’s Office Pulls out of Settlement with Banks – New...
SAN FRANCISCO — California Attorney General Kamala Harris announced yesterday that her office is pulling out of a pending 50-state settlement with banks over wrongful foreclosures. In a letter to...
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Bank of America Accuses NYT Reporter of ‘Soliciting Customers’
With falling stock prices, debit-card users flipping out about the company’s plan to steal $5 from them every month, and a brand-new lawsuit on their hot little hands, the devil worshipers at Bank of...
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BOA’s debit fee has ripple effect locally
Oct. 01–Bank of America’s decision to start charging its debit card customers a monthly $5 fee could mean more business for South Sound financial institutions, credit union and community bank officials...
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Banks could face new source of mortgage losses | Reuters
(Reuters) – A federal housing insurance program may be forced to deny bank claims for money lost in home loan foreclosures, costing them another $13.5 billion in mortgage-related losses, according to a...
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Amicus Brief Claims Only 16% of Mortgage Assignments are Valid
re: Henrietta Eaton, Plaintiff vs Fannie Mae http://www.scribd.com/doc/67307031/2-AMICUS-BRIEFS-ONLY-16-OF-ASSIGNMENTS-ARE-VALID-McDonnell-and-Levitin-TWO-AMICUS-BRIEFS-FILED-IN-HENRIETTA-EATON
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Senator Durbin to Bank of America Customers: ‘Get the Heck Out of That Bank’...
Holding up a plastic debit card on the Senate floor this afternoon, Sen. Dick Durbin, D-Ill., had some advice for Bank of America customers angry about the new $5 monthly fee: leave. “Bank of America...
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Bank Of America’s Online Banking Broken, Cheesy Gift Shop Still Working |...
What’s that? You needed to log on to your Bank of America account? Sorry. It’s down…for the third time this week. The “Bank of America gift shop,” however, is working just fine. It’s been a tough few...
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BofA to Shutter Correspondent Lending Unit After Auction Fails – Businessweek
Oct. 4 (Bloomberg) — Bank of America Corp., the largest U.S. lender by assets, will close its correspondent-mortgage unit after negotiations with a bidder failed, leaving the employment status of about...
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West Virginia AG Darell McGraw Sues Bank of America Corporation – WOWK-TV –...
Similar to the GE Money Bank suit, this suit charges Bank of America with violating the state’s consumer credit protection act. By Andrea Lannom In a second Sept. 30 federal lawsuit, West Virginia...
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BofA lo$es its leverage – NYPOST.com
Bank of America, the biggest player in the leveraged-loan market, is pulling back from the business after getting pinched in the credit squeeze, The Post has learned. BofA has retreated in the pitched...
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BAC Should Face Fraud Charges Over Countrywide, Says Regulator – Stocks To...
Countrywide failed to comply with government rules when it submitted paperwork to get reimbursement for mortgages insured by the government, the inspector general of the Department of Housing and Urban...
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Bank of America’s Countrywide Sued by Sealink Funding – BusinessWeek
Sept. 30 (Bloomberg) — Bank of America Corp.’s Countrywide unit was sued by Sealink Funding Ltd. in New York over $1.6 billion of residential mortgage-backed securities the fund purchased between 2005...
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Banking: Bank of America to Slash $5 Billion in Costs by 2013 – CNBC
Bank of America is looking to reduce annual expenses by $5 billion by 2013 through its cost-cutting initiative, Chief Executive Officer Brian Moynihan said. The program—known as New BAC after the...
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Second Mortgages May Cost U.S. Banks $23B: Nomura – Bloomberg
Losses on home-equity and other second mortgages may cost the four biggest U.S. banks $22.6 billion more than budgeted, with Wells Fargo & Co. (WFC) most at risk, according to Glenn Schorr, an...
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The Secret of Their Success
A successful central banker in the age of compliant paper money is one who is able to control the rate of ruin so that the rubes don’t catch on. Everybody is happy. Everyone feels richer. It’s...
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Ohio county sues MERS over mortgage recording fees « HousingWire
Geauga County in Ohio filed suit against Mortgage Electronic Registration Systems Thursday, claiming the electronic mortgage registry bypassed the recording of mortgage assignments in local registry...
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Warning Bells Ring / Financial Crisis: BofA Said to Split Regulators Over...
Oct. 18 (Bloomberg) — Bank of America Corp., hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people...
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BofA seeks to oust AIG law firm from $10 billion case | Reuters
(Reuters) – Bank of America Corp (BAC.N) urged a judge to disqualify the law firm representing insurer American International Group Inc (AIG.N) in its $10 billion mortgage fraud lawsuit against the...
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Bank of America’s latest bailout bigger than ever | Loren Steffy | a...
Is that a withdrawal or is he shoring up the derivatives fund? (AP) What, you thought the big banks were done leaning on taxpayers? Sure, Bank of America may have repaid the $45 billion it borrowed...
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US Senators to Federal Bank Regulators: Must Ensure Risky Behavior by Banks...
WASHINGTON, Oct. 27 — The office of Sen. Bob Casey, D-Pa., has issued the following news release: Senator Bob Casey (D-PA), Chairman of the Joint Economic Committee, sent letters today to federal...
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