Bank of america Stories
Broker departures accelerate at Merrill Lynch
At least 50 advisers who managed nearly $12 billion in client assets at Merrill Lynch have left the thundering herd since January 1, based on moves tracked by Reuters.
Government Details Mortgage Pact, Promises Tough Oversight
The government released the fine print of its landmark $25 billion mortgage settlement, and promised to closely police the banks' pledges to bring widespread housing relief, even while letting them dodge admission of wrongdoing.
FOMC Preview: Policy Changes Unlikely At March Meeting
The U.S. Federal Reserve's policy-setting Federal Open Market Committee has its monthly meeting Tuesday, but no policy changes are expected, economists at Bank of America Merrill Lynch say.
Pre-Market NASDAQ Movers (TUDO, KUTV, ZOLL, OREX, MERU, ANTH, HGSI, YONG, LOGI, ORCL)
The top pre-market NASDAQ gainers are: Tudou Holdings, Ku6 Media Co, Zoll Medical Corp, Orexigen Therapeutics and Meru Networks. The top pre-market losers are: Anthera Pharmaceuticals, Human Genome Sciences, Yongye International, Logitech International and Oracle Corp.
Court OK Of $25 Billion Mortgage Deal To Be Sought Monday
The $25 billion settlement between five large U.S. banks accused of abusive mortgage practices on the one side and federal and state government officials on the other side that was announced Feb. 9 will be filed in federal court on Monday, people familiar with the matter said.
Government to seek court approval of $25 billion mortgage pact
A previously announced $25 billion settlement between five major banks accused of abusive mortgage practices and government officials will be filed in federal court on Monday, people familiar with the matter said late Friday.
Wells Fargo Fees: 4 Ways To Avoid The New $7 Checking Account Serivce Fee
Wells Fargo recently announced that it will be instituting a $7 monthly service fee for checking accounts in six eastern states, adding to the 23 states where the fee is already in place. There are a few ways to avoid this fee.
Online Security: Why It's Taxing Our Brains
For a while it was just your mother's maiden name, then your first pet, the street you grew up on or the make and model of your first car. As passwords and security questions multiply, so does the potential for things to go wrong, possibly locking you out of your own life.
BofA in side deal with government on mortgage foreclosures: WSJ
Bank of America, one of five banks in $25 billion settlement with the government over foreclosure practices, has struck a side deal that will allow it to reduce penalties in return for bigger cuts to borrowers' mortgage balances, the Wall Street Journal said.
Wells Fargo To Charge $7 Fee In 6 More States
Wells Fargo & Co., the bank with the most U.S. branches, is ending free checking in six eastern U.S. states starting in May, expanding a $7 monthly service fee for the use of its basic checking account.
AT&T Makes The Call, Plans To Sell Yellow Pages
AT&T Inc. is seeking to sell a stake in Yellow Pages in an approximately $1.5 billion deal with private equity firm Cerberus Capital Management LP, Bloomberg reported.
Bank of America Defrauded Mortgage Modifiers, Whistleblower Claims
Bank of America, N.A., fraudulently sought to limit home-owner mortgage modifications under the Home Affordable Modification Program so as to avoid millions in losses, says a whistleblower complaint unsealed in federal court Wednesday.
Whistleblower says BofA defrauded HAMP
Bank of America NA prevented homeowners from receiving mortgage-loan modifications under a federal program in order to avoid millions of dollars in losses while benefitting from financial incentives for participating in the program, according to a complaint unsealed in federal court Wednesday.
Fed Likely to Take Wait-and-See Stance Next Week
If you expect the Federal Reserve to launch another round of bond buying to stimulate growth at its meeting next week, you're almost certain to be disappointed.
Stocks Slump on Fears over Greece, Global Growth: Daily Markets Wrap
U.S. stocks finished Tuesday with the worst one-day decline so far in 2012 as a sell-off spread from Europe driven by fear of a disorderly default in Greece and a slowdown in global economic growth.
Obama Expands Housing Relief to Military, FHA Borrowers
The U.S. government will cut fees on federally insured mortgages and move to expand home-loan relief to military veterans, President Barack Obama announced Tuesday.
Wall Street set to fall on Greece, economy worries
Wall Street was set to open lower on Tuesday on renewed concerns that Greece and private bondholders may not meet a looming deadline to complete a debt swap and as caution grew over the global economic outlook after recent weak data.
Top After Market NYSE Movers (MWW, SNE, GA, HEK, RES, NQ, RAS, DAR, PAA, AB, EQY)
The top aftermarket NYSE gainers Monday were: Monster Worldwide, Sony Corp, Giant Interactive Group, Heckmann Corp, RPC and NetQin Mobile Inc. The top aftermarket NYSE losers: RAIT Financial Trust, Darling International, Plains All American Pipeline, AllianceBernstein Holding and Equity One.
Facebook Adds Three Major Banks to Underwrite Its IPO
Facebook Inc, the social networking firm, has hired more banks to work as underwriters for its initial public offering, according to a report.
Facebook Adding Banks to Underwrite Its Initial Public Offering: Sources
Facebook Inc will add banks in coming weeks to help underwrite its initial public offering, two sources familiar with its plans said on Friday.
Bank of America Toys with Idea of Fees, Again
Last year Bank of America wreaked up a ruckus among its customers as it toyed with the idea of instituting a $5 fee for debit-card purchases, a plan that was successfully pushed back-until now.
US Homeland Security Monitored Occupy Wall Street, Documents Show
Occupy Wall Street drew a top U.S. security agency's scrutiny, Rolling Stone reported, as protesters across the country tried to revive the movement in a day of action against corporate greed.
Bank of America Considers Checking Account Fee Revamp: Report
Bank of America Corp. is planning to introduce a monthly fee for its customers holding checking accounts unless they agree to bank online, buy more products or maintain certain balances, the Wall Street Journal said.
Fannie Mae and Bank of America's Bad Romance; Mortgage Meltdown Killed Relationship
Like scorned lovers, Bank of America (NYSE:BAC) and Fannie Mae, the government-controlled mortgage giant, are having a very public falling out.
Dow At 13,000, S&P Breaks 1,370: Will It Last?
The Dow Jones Industrial Average crossed 13,000 at Tuesday's market close, while the S&P 500 rose above 1,370, but a bullish psychological impact could actually drag down the market in days to come.
Green Mountain Coffee Roasters Inc.: Brewing a Growth Story
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR), the maker of Keurig single-serve brewers and capsules, claimed the No. 45 spot on the IBTimes 1000 list by catering to consumers' needs while operating on a high-margin business model.
Bank of America Scores Key Court Ruling in Resolving Countrywide Mortgage Mess
Bank of America had attempted to get an $8.5 billion settlement over bad Countrywide mortgage-backed securities approved in New York state court over the objection of some angry investors.
Smaller Caps Seen Doing Better This Earnings Season
Perhaps familiarity does breed contempt. The biggest U.S. companies have often failed to meet forecasts this earnings season, while their smaller counterparts have delivered.
Buffett Adds to Bullish U.S. Economic Recovery Signals
Anyone looking for more evidence of a strengthening U.S. economic recovery needs only to consider conglomerate Berkshire Hathaway, where businesses ranging from railroads and electric utilities to furniture and candy stores are racking up record profits.
BofA Stops Selling Mortgages to Fannie Mae; Rivals not Following
Bank of America Corp appears to be going it alone in not selling mortgage loans to Fannie Mae, a move that, while sending an angry signal to the nation's largest mortgage-buyer, could force the bank to charge less attractive mortgage rates.