All Posts Tagged With: "bank of america"
Bank of America (NYSE: BAC) to try new pricing structure to offset lost revenue
One of Bank of America’s biggest problems right now is that they are left trying to figure out how to offset the $4.3 billion of revenue that they expect to lose from the new credit and debit card reform. Bank of America is the largest retail bank in the United States. It is feeling more [...]
SEC Settlement Finalizes Bank Of America (NYSE: BAC) Shareholder Fund
A November 12th deadline looms large for the Bank of America (NYSE: BAC) shareholders to file for their part of the reported $150 million settlement involving the Merrill Lynch merger which was secured by the SEC. The final terms of the settlement had been secured by a New York federal judge on Wednesday. The $150 [...]
Visa (NYSE: V) and Wells Fargo (NYSE: WFC) Teaming Up To Try Out Phone Payments
Previously, we shared information about Bank of America (NYSE: BAC) and Visa (NYSE: V) testing the use of cell phones for making purchases. Now, Visa is joining with Wells Fargo (NYSE: WFC) for another test run of smartphones to pay for purchases in stores. Visa is currently the largest transaction processing network in the world. [...]
July Making Home Affordable Servicer Report Shows 100,413 Bank of America (NYSE: BOA) Homeowner Trial Modification’s Canceled
With so many homeowners in the country struggling to pay their mortgages, many turned to the Making Home Affordable Program. Servicers like Bank of America (NYSE: BOA) agree to modify homeowner mortgages in an effort to make their payments more affordable under a Home Loan Modification program. The home loan modification program has received much [...]
Bank of America (NYSE: BOA) Website Down for Customers
Customers of Bank of America (NYSE: BOA) were out of luck for about four hours yesterday when a glitch in the company’s website cause the online banking service to shut down. Bank of America, based in Charlotte, NC, did not give specifics about the problem, only citing a ‘temporary system’ error. The glitch only affected [...]
Bank of America Corp (NYSE: BAC) and Visa (NYSE: V) Testing Cell Phones to Make Contactless Purchases
From September through the end of the year, Bank of America (NYSE: BAC) and Visa (NYSE: V) will be testing cellular phones for making purchases in stores in the New York City area. In October, Visa will run a similar test program with US Bancorp. Japan has been using mobile telephones to make payments for [...]
Bank of America (NYSE: BAC) Introduces eBanking Solution
As more people become comfortable with electronic banking systems, and schedules become more hectic, it makes sense that more banks will start offering electronic banking products. Bank of America announced today, August 9th, 2010, their new banking solution aimed at customers who prefer to receive statements online and who want to bank when and where [...]
Bank of America (NYSE: BAC) Gives Back With $10 Million in Grants
Bank of America (NYSE: BAC) is the first large bank to give money away in the form of a grant to other lenders. Bank of America is giving non-profit micro-lenders like Community Development Financial Institutions $10 million in grant money. More than 175 lenders will receive a portion of the grant, and are then going [...]
Bank of America Admits Debt Was Mistakenly Hidden (NYSE: BAC)
Details have recently emerged from a letter that Bank of America sent to the Securities and Exchange Commission (SEC), admitting that the bank has hidden debt. This letter to the SEC was in response to the SEC’s inquiry to all major financial institutions after the discovery that Lehman played games and hid debt in what [...]
Nevada Homeowners Get Help From Bank of America (NYSE: BAC)
Consumers across the nation have been affected by the tough economic conditions in recent years. Homeowners are defaulting on mortgage loans in record numbers, with the state of Nevada being particularly hard hit according to Senator Harry Reid. As a result Senator Reid had a special meeting with Bank of America’s Chief Executive Officer Brian [...]
JPMorgan Chase (NYSE: JPM) Offering Hiring Incentive to Small Business
JPMorgan Chase (NYSE: JPM) announced on Tuesday they will offer their small business customers a half of a percentage lower interest rate on lines of credit for every new person they hire up to three hires. The move is set to help create a stronger economy and more jobs. JPMorgan’s head of business banking spoke [...]
Bank of America (NYSE: BAC) Sued Over Foreclosure Work
Bank of America (NYSE: BAC) has been sued by Diversified Field Solutions based on allegations the bank failed to provide contracted work for their foreclosure properties. Bank of America contracted with DFS to handle foreclosure preservation measures on the bank’s properties in 14 states. DFS claims Bank of America never upheld their end of the [...]
Bank of America (NYSE: BAC) To Repay Millions in Countrywide Overcharges
Bank of America (NYSE: BAC) is about to pay out about $108 million on behalf of Countrywide Financial according to an announcement by the FTC. The money is being issued as a refund to homeowners who were charged faux fees by Countrywide Financial before Bank of America purchased the company in July 2008. Bank of [...]
10,000 Bank of America (NYSE: BAC) Borrowers Contacted About Mortgage Forgiveness Program
Under a plan officially announced in March, Bank of America (NYSE: BAC) announced principal reduction would be the first step for helping their most troubled mortgage borrowers through the Home Affordable Modification Program (HAMP). On Wednesday, June 2nd, Bank of America Corporation announced it contacted 10,000 borrowers about the new loan forgiveness program which will [...]
Bank Of America Announces Results of Community Lending Project (NYSE: BAC)
Bank of America is one of the largest financial institutions in the world. Over the past few years as the economy continued its downward slide, the company has been in the news for a variety of reasons. Today the company is pleased to announce a positive report on the first-year results of 1.5 trillion dollar [...]
Bank of America (NYSE: BAC) Balks at Medical Pot Backing
Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) have been continually denying their services to medical marijuana dispensaries in order to protect themselves from prosecution by the federal government. The country has long history of failed drug policies and now that there is a turning around, the situation has been confusing banks. The Department of [...]
Bank of America’s (NYSE: BAC) Lending and Investing Initiative Report Shows Almost $150 Billion Credit Lent in the First Quarter
Bank of America(NYSE: BAC) has extended nearly $150 billion in credit for the first quarter of 2010, making them the largest lender of credit of any United States Bank. The Lending and Investigating Initiative Report which is issued quarterly details the money was lent in the form of $70 billion in first mortgages and 77,000 [...]
Bank of America (NYSE: BAC) To Propose Mortgage Help?
Bank of America (NYSE: BAC) is considering a program directed at the unemployed mortgage holders who can no longer afford a home mortgage payment. For those who have lost their jobs and can not find suitable employment, the bank is considering to offer for a period of nine months a break on the mortgage payments. [...]
Bank of America (NYSE: BAC) Reports $3.2 Billion Profit for the First Quarter
In January of last year, Bank of America (NYSE: BAC) purchased Merrill Lynch. The purchase proved to be beneficial with Bank of America reporting a $3.2 billion net income in the first quarter of 2010 (28 cents a share). This profit is much better than the last quarter of 2009, although it is lower than the [...]
Employee of Bank of America (NYSE: BAC) Charged With ATM Crime
With the increase in threats against ATMs around the country, more people are being victimized by thieves who are able to capture their card information and make withdrawals on accounts fraudulently. Now one employee of one of the largest banks in the country is facing charges of highjacking ATMs using his own IT experience. Thirty-seven [...]
Bank of America Provides Voice Enabled ATM’s(NYSE: BAC)
Many people take for granted the gift of sight. Unless you are visually impaired, it probably never crosses your mind how those who are visually impaired manage simple day-to-day tasks. One of these tasks is something as common as accessing an ATM, an action millions of people perform each day. Bank of America announced today [...]
ATM Skimmers Caught on Security Cameras at Daytona Beach Bank of America (NYSE: BAC) Branch
Security cameras at the Bank of America (NYSE: BAC) branch in Daytona Beach, Florida, caught two suspects installing a skimming device that steals ATM card and pin information. After installation, the thieves were able to access customers’ data for seven hours. A bank employee noticed something wasn’t right and called the police to investigate. Police [...]
Bank of America (NYSE: BAC) and Merill Lynch Accused of Discriminating Against Women
On Tuesday, three female financial advisers from Bank of America (NYSE: BAC) and Merill Lynch accused the companies of discriminating against women in a lawsuit. Two of the women are former employees of Bank of America while one is a current employee of Merill Lynch. The lawsuit was filed in the United States District Court [...]
No Taxes for Bank of America ((NYSE: BAC) and Wells Fargo (NYSE:WFC)
Unlike most American’s and American businesses, it is expected that neither Bank of American (NYSE: BAC) or Wells Fargo (NYSE: WFC) will have to pay up to Uncle Sam for last year’s federal income taxes. Even though the bank’s stand at number one and number 4 in the country, experts say the situation is not [...]
Bank of America (NYSE: BAC) Using Cisco (NASDAQ: CSCO) TelePresence Systems to Improve Team Collaboration
Bank of America (NYSE: BAC) has just announced it’s agreement with Cisco (NASDAQ: CSCO) to install 200 units of Cisco TelePresence systems across the bank’s global operations by the end of the year. The units will allow Bank of America associates around the globe to communicate on a face-to-face level – almost as if they [...]
Citigroup (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) Join the Obama Administration to Reduce Second Mortgage Balances
The Obama Administration has announced a plan last Friday that will finally begin reducing the amount troubled borrowers owe on their home mortgage loans. This plan will allow people who are underwater on their mortgages to get a new mortgage backed by the Federal Housing Administration. Loans backed by the government agency insure the loans [...]
Bank of America (NYSE: BAC) Forgives Home Mortgage Debt
Bank of America (NYSE: BAC) is making mortgage exceptions for around 45,000 homeowners in an effort to avoid foreclosures. If all homeowners offered the forgiveness and each made their reduced monthly payments over the next five years – the amount Bank of America forgives could total $3 billion. The mortgage principal forgiveness is being offered [...]
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