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A senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch, but a bank board member said much pressure was applied and Republicans charged that a committee inquiry was covering up the role of an Obama administration official.
With Bank of America Corp. CEO Ken Lewis retiring in less than seven weeks, analysts don't see any candidate emerging as a front-runner for his successor.
Bank of America Corp.'s outgoing CEO Ken Lewis said Tuesday that the economy may be improving but the recovery in the financial industry remains slow.
Bank of America Corp. said Monday that it extended nearly $184 billion in credit during the third quarter, as households and communities remain under financial strain.
Bank of America Corp. on Thursday reiterated that the current credit environment will remain difficult into next year, as unemployment is likely to continue to rise.
Bank of America Corp. said Wednesday it has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors.
Bank of America Corp. said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing more evidence that consumers are still struggling to pay their bills.
Bank of America Corp. says it lost more than $2 billion in the third quarter as its loan losses continued to rise.
Capping a year in which he faced shareholder fury, regulatory scrutiny and was stripped of his chairman post, outgoing Bank of America Corp. CEO Ken Lewis will get no salary or bonus for 2009 under an agreement with the government's pay czar.
Bank of America Corp. said Tuesday it will charge a limited number of its credit card customers annual fees ranging from $29 to $99 starting next year.
Bank of America Corp., giving up a months-long fight with regulators, plans to turn over documents revealing legal advice it received on its purchase of Merrill Lynch.
The Securities and Exchange Commission has asked for a jury to hear any triable issues related to its lawsuit against Bank of America Corp.
Bank of America Corp. on Tuesday pledged not to hike credit card interest rates or fees before a new law intended to reform industry practices takes effect in February.
Bank of America Corp. said Friday it created a six-member committee of directors to find a successor for CEO Ken Lewis.
Bank of America Corp. said Friday its board authorized a $713 million dividend payment on preferred stock issued to the Treasury Department as part of the government's bank rescue program last year.
Bank of America Corp. plans to select an emergency CEO this week in case Ken Lewis steps down before the end of the year, The Wall Street Journal reported Monday.
Ken Lewis' legacy as CEO of Bank of America Corp. will likely be determined by whether his successor can do what Lewis couldn't: prove that the bank's messy acquisition of Merrill Lynch & Co. was worth the money.
Bank of America Corp. said Wednesday it is selling the long-term asset management business of one of its units to Ameriprise Financial Inc.
Bank of America Corp. executives improperly concealed billions of dollars in losses and billions in bonuses paid by Merrill Lynch before a shareholder vote on their proposed merger, Ohio's attorney general argued in a class-action securities lawsuit he described as among the largest in history.
Bank of America Corp. will hand over more documents to a congressional committee probing its hastily arranged acquisition of troubled brokerage house Merrill Lynch.
Bank of America Corp. now faces a trial with the Securities and Exchange Commission over billions in bonuses paid at Merrill Lynch, after a judge threw out the bank's $33 million settlement and rebuked the agency for not pursuing charges against executives.
Bank of America reached an agreement Monday to pay the United States $425 million to exit a costly arrangement whereby the government would have shouldered losses on risky assets from the bank's takeover of Merrill Lynch.
Bank of America Corp. said Monday it appointed Charles "Chad" Holliday Jr. to its board of directors, effective immediately.
The FBI and Department of Justice are conducting a criminal probe into Bank of America Corp.'s purchase of Merrill Lynch last year, the Charlotte Observer reported Friday.
Bank of America Corp. was facing a deadline Monday to turn over additional information about its acquisition of Merrill Lynch, this time to a Congressional committee.
Sunrise to Bank of America: Clean up your actJust ask Mayor Roger Wishner, who helped kill a multimillion-dollar city partnership with Merrill Lynch because parent company Bank of America has been accused of being mean to the little guy.
Is Bank Of America Of Trying To Skirt The CARD Act With New Annual Fees?WalletBlog has accused Bank of America of breaking the spirit of its "no new fees" promise and of potentially breaking the law next year, after it announced it will introduce annual fees on some existing credit card accounts in 2010.
BofA touts lending of $184 billion in quarterBank of America Corp. said Monday that it extended nearly $184 billion in credit during the third quarter, as households and communities remain under financial strain.
Banks prepare for Plutocracy...SEC. 1103. PRUDENTIAL OVERSIGHT OF ACCOUNTING PRINCIPLES AND STANDARDS THAT POSE SYSTEMIC RISKS.
Financial Terrorism in AmericaThe Taliban is no threat to the security and well being of this Nation, yet we will spend trillions to try to suppress them. The greatest threat facing this nation (as with all great threats) is from within our nations borders.
Washington's Bank Pay CrackdownWashington launched its biggest offensive yet against runaway Wall Street pay practices Thursday, taking aim at everyone from senior executives to high-flying traders of complex securities.
Hard times in Charlotte, a city dependent on the banking industryNow Charlotte is suffering. Unemployment has spiked to 12 percent, well above the national average. Subdivisions sit unfinished. Mansions cannot be sold.
U.S. to Order Pay Cuts at 7 Companies With Bailout Aid WASHINGTON — Responding to the furor over executive pay at companies bailed out with taxpayer money, the Obama administration will order the firms that received the most aid to slash compensation to their highest-paid employees, an official involved in the decision said on Wedn …
Administration Said to Order Deep Cuts in Pay at Bailed-Out Companies Responding to the growing furor over the paychecks of executives at companies that received billions of dollars in federal bailouts, the Obama administration will order the companies that received the most aid to deeply slash the compensation to their highest paid executives, an …
No pay for Bank of America bossBank of America's chief executive Kenneth Lewis, who is due to retire at the end of the year, will receive no salary or bonus for 2009.
Has Bank of America declared Obama administration outlaws?Bank of America, the nation's largest bank and the recipient of $45 billion of taxpayers' money through the TARP bailout, has suggested that the Obama administration are outlaws.
A Bigger Bank Bust Is On The WayThis weekend is the one-year anniversary of the bailout. But the Daily Beast's Nomi Prins says the too-big-to-fail banks have only gotten bigger—and much worse could be on its way.
Forced Out - But Bank Boss Has $125m Reasons To Be Cheerful :: Business News :: Here Is The City News :: The Latest Business & Financial Markets News And ViewsFrom the article...
Bank of America CEO Has $53 Million In Pension Benefits Waiting For Him In RetirementKen Lewis doesn't have a golden parachute, but he's all set for a comfortable landing -- unlike his long-suffering shareholders.
Bank of America Severs Ties With ACORN"Bank of America Corp. is cutting off ties to ACORN amid allegations against the housing and community activist group related to taxes, use of federal money and giving advice to people posing as pimps and prostitutes.
JP Morgan's Acorn Housing Board Member Steps Down The J.P. Morgan spokesman declined to say why Mr. Loaiza had stepped down from the Acorn Housing board but said the decision was his. Mr. Loaiza didn't respond to requests for comment. A spokeswoman for Acorn Housing said Mr.
BofA Suspends ACORN CommitmentsBank of America has suspended its current commitments to ACORN Housing, an affiliate of Association of Community Organizations for Reform Now (ACORN), a scandal-hit U.S. liberal grassroots group, the Wall Street Journal said on Monday.
Man sues Bank of America for 1,784 billion, trillion dollars | ReutersDalton Chiscolm is unhappy about Bank of America's customer service -- really, really unhappy
With Congress Ready To Take Action, Bank of America and Chase Revise Overdraft RulesBank of America and JPMorgan Chase, two of the nation's biggest banks, announced plans on Tuesday to drastically overhaul their debit card programs by lowering or eliminating fees, changing the way they credit transactions and allowing customers to opt out of overdraft protecti …
U.S. charges Obama fund-raiser in $290 million fraudHassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday.
Bouje Publishing was awarded the 2009 Emerging Program Award which recognizes an employee volunteer program that is less than 2 years old and has achieved significant results.
Today, I read of a woman that had started a credit card revolt. She had posted a short on U.Tube and over a hundred thousand had watched it to date.
Merrill bonus case highlights how shareholders get fleecedLast year, for their skill at losing $27 billion and driving a storied 94-year-old securities firm to the brink of ruin, Merrill Lynch executives decided it was time to reward themselves and thousands of other employees with up to $5.8 billion in bonuses.
No thumbprint, no money, bank tells armless manA bank in Florida refused to cash a check for an armless man because he could not provide a thumbprint. "They looked at my prosthetic hands and the teller said, 'Well, obviously you can't give us a thumbprint'," Steve Valdez told CNN on Wednesday.
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