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In A First, Bank Of America Ends Arbitration Of Credit Card Disputes

Reuters | Posted 05.25.2011 | Business

NEW YORK (Reuters) - Bank of America Corp, the largest U.S. bank, said on Thursday it is dropping a requirement that forces consumers with disputes on...

The Fall of the Flimflam: What Every Executive Can Learn from BofA's Sleight of Hand

Jonathan Littman | Posted 05.25.2011 | Business
Jonathan Littman

Judge Jed S. Rakoff of New York is my idea of a true American hero. This week he had the guts to ridicule the sham $33 million settlement put forth by the SEC and Bank of America execs.

Letting the Banking Rats Out of the Bag

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

Why has it been left to one stellar judge to sound the alarm on Bank of America and Merrill Lynch, and why is Congress and the Obama administration looking the other way?

Judge Refuses To Approve Bank of America-SEC Settlement Over Exec Bonuses

Reuters | Posted 05.25.2011 | Business

NEW YORK (Reuters) - A federal judge refused to approve a settlement between a top U.S. regulator and Bank of America Corp (BAC.N) over executive bonu...

Bank Of America Planning To Cut 10 Percent Of Branches

AP | IEVA M. AUGSTUMS | Posted 05.25.2011 | Business

CHARLOTTE, N.C. — Bank of America Corp. could eventually shrink its 6,100-branch network by about 10 percent as consumers utilize other methods ...

Bank of America's Employees: The Other Side of the Financial Crisis

Michael Whitney | Posted 05.25.2011 | Business
Michael Whitney

Employees report they're told to target students, the elderly, and non-English speakers who are the most at-risk to end up paying huge fees.

Fed Covered BofA Merrill Deal: Rep. Darrell Issa

Reuters | Posted 05.25.2011 | Business

WASHINGTON, June 24 (Reuters) - The Federal Reserve sought to hide its extensive involvement and concerns about Bank of America Corp's (BAC.N) acquis...

Geithner Email: Told BofA Couldn't Back Out Of Merrill Lynch Acquisition

Posted 05.25.2011 | Business

Breaking News: Tim Geithner, Treasury Secretary, supposedly emailed telling BofA that they couldn't back out of acquiring Merrill Lynch, according to ...

BofA Bonuses: Bank Pays Millions, Despite Bailout

New York Post | MARK DeCAMBRE | Posted 05.25.2011 | Business

Bailed-out Bank of America has been doling out millions in bonuses in an effort to lure talent and keep investment bankers who management views as vit...

U.S. Chamber of Commerce <3s Bank of America

Michael Whitney | Posted 05.25.2011 | Business
Michael Whitney

At the end of last year, while the economy collapsed and BofA took on its first $25 billion bailout, the U.S. Chamber saw fit to honor Bank of America with its "2008 Corporate Citizenship Award." Because nothing says "Corporate Citizenship" like milking taxpayers for unprecedented billions.

Ryan Grim

BofA CEO: Fed And Treasury Officials Pressed For, Helped Fund Merrill Merger | Ryan Grim | Posted 05.25.2011 | Business

Treasury and Federal Reserve officials pressured Bank of America CEO Ken Lewis not to back out of a planned merger with Merrill Lynch in December, Lew...

BofA, Citi Risk Getting Left Behind By Healthy Rivals

Reuters | Posted 05.25.2011 | Business

Bank of America Corp (BAC.N) and Citigroup Inc (C.N) may be at risk of getting left behind. Rivals including JPMorgan Chase & Co (JPM.N) and Goldma...

BofA, JPMorgan, Others Raise $19 billion

Yahoo! News | Steve Eder and Jonathan Stempel | Posted 05.25.2011 | Business

NEW YORK (Reuters) -- Bank of America Corp (BAC.N), JPMorgan Chase & Co (JPM.N) and several other banks said they have raised more than $19 billion as...

BofA Wants To Repay $45 Billion By End Of Year | Patrick Jenkins, Greg Farrell and Francesco Guerrera | Posted 05.25.2011 | Business

Bank of America wants to pay back $45bn in bail-out funds by the end of the year, in a faster-than-expected move made possible by an accelerated progr...

Ken Lewis, BofA Management Made Millions On Nationalization Rumors

Bloomberg News | David Mildenberg | Posted 05.25.2011 | Business

May 19 (Bloomberg) -- Bank of America Corp.'s directors and top managers, including Chief Executive Officer Kenneth Lewis, made about $6.57 million by...

BofA Presses Fired Staff To Give Up Right To Sue

Reuters | Elinor Comlay | Posted 05.25.2011 | Business

Bank of America Corp is telling fired employees that they cannot accept job offers from competitors for three months unless they give up either deferr...

Feds Give BofA And Citi 30 Days To Fire Their CEOs | Joe Weisenthal | Posted 05.25.2011 | Business

One very interesting note, which David Zaring picked up on, is that in this 30 day period "...firms will need to review their existing management and ...

BofA, Citi Must Boost Capital: Report

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — Citigroup Inc. and Bank of America Corp. will need to raise more capital based on preliminary results of their government-run "stre...

Kenneth Lewis Fights To Keep Bank of America Job

New York Times | LOUISE STORY | Posted 05.25.2011 | Business

Can Kenneth D. Lewis hold on at Bank of America? The answer to that question, much anticipated on Wall Street, is expected to arrive Wednesday, whe...

Bank of America Posts 1Q Profit, Tempered By A $13B Loan Loss Provision

AP | IEVA M. AUGSTUMS | Posted 05.25.2011 | Home

CHARLOTTE, N.C. — Bank of America Corp. warned of worsening loan default problems Monday even as it posted a first-quarter profit of $2.81 billi...

Cuomo, Frank To BofA's Lewis: You "Fuel Distrust And Cynicism"

AP | STEPHEN BERNARD and IEVA M. AUGSTUMS | Posted 05.25.2011 | Business

UPDATE: See this update from CNBC's Charles Gasparino on Cuomo's investigation into Merrill's bonuses. NEW YORK -- New York Attorney General Andrew ...

In a Gloomy Economy, Signs of Light

Robert Reed | Posted 05.25.2011 | Business
Robert Reed

At a time when the stock market is plunging and a once-venerable Wall Street investment house is going bankrupt, it may seem like all is lost. Not true. In fact, amid the carnage, some examples have emerged that stir --shall we say--a cautious optimism about getting free of this mess.