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Bank of America News

News on Bank of America continually updated from thousands of sources around the net.

2 hrs ago | AmericanBankingNews.com

Ron Paul: Bank-Connected Democrat Mel Watt Strips H.R. 1207 of Almost Everything

With most Americans outraged over the behavior of the Federal Reserve and the part it has played in the bailouts of huge institutions in the financial and automotive industries, Ron Paul introduced H.R. 1207, which would have required a full audit of the Federal Reserve and its activities, which crosses international lines.

Comment?

Related Topix: US Politics, Ron Paul, US News, 2008 Presidential Election, Republican, US House of Representatives, Banking, Financial Services, American Express

Sat Nov 07, 2009

BNET

Regulators Face Pressure To Act After CIT Bankruptcy

By Daniel M. Harrison CIT Group , an embattled small business lender that filed for bankruptcy Sunday as a result of lack of government-sponsored financial assistance, is now hoping regulators will give it a second chance to turn itself around.

Comment?

Related Topix: CIT Group, Financial Services, Economics News, Bankruptcy, Small Business, Personal Finance, Banking

McClatchy DC

Bank of America CEO job may be a tough sell

Add Bob Kelly to the list of financial services executives who aren't clamoring for the top job at Bank of America Corp.

Comment?

Related Topix: Financial Services, Banking, Wachovia Corporation

KDXY-FM Jonesboro

BofA Suspending Federal Student Loan Program

Bank of America Corp will suspend its federally-backed student loan program by December 5, the company said in a letter to colleges and universities on Friday, as the U.S. gets ready to end the program entirely.

Comment?

Related Topix: Financial Services, Banking

Fri Nov 06, 2009

The Motley Fool

Inside Goldman's Money Machine

Goldman Sachs filed its quarterly report with the SEC on Wednesday, giving investors a peek at just how consistently profitable its trading activity was in the third quarter.

Comment?

Related Topix: Investment Banking, Financial Services, Goldman Sachs Group, Investment Services, Morgan Stanley, Healthcare Industry, Banking, Berkshire Hathaway, Insurance

Brandweek

Bank of America Buzz Shows Negative Balance

Bank of America had a fairly good year in 2008, despite the economic downturn. But this year has proven to be much more different for the financial firm.

Comment?

Related Topix: Financial Services, Banking

Charlotte Business Journal

BofA CEO move bad for city, but good for bank?

What would it mean if Bank of America Corp. was no longer based in Charlotte? The largest financial firm headquartered in the city formerly known as Banktown would be NewDominion Bank , a $561 million-asset lender founded in 2004.

Comment?

Related Topix: Charlotte Metro, Banking, Financial Services

East Boston Times-Free Press

Pilot program aimed at helping renters in foreclosed properties

Tenants in East Boston, not homeowners are some of the biggest victims of the recent mortgage and foreclosure crisis that began last year.

Comment?

Related Topix: Boston, MA, East-Boston, MA, Foreclosures, Home, Mortgage, Personal Finance, Banking, Financial Services

Thu Nov 05, 2009

Globe and Mail

Time to buy Capital One?

Philip van Doorn TheStreet.com Published on Thursday, Nov. 05, 2009 3:20PM EST I nvestors considering buying, or dumping, Capital One Financial COF-N should take their eyes off the stock market, analysts' reports and pundits' musings, and review the U.S. job market.

Comment?

Related Topix: Financial Services, Capital One Financial, McLean, VA, Banking

Reuters

BNY Mellon's Kelly shoots down BofA CEO talk

Bank of New York Mellon Corp CEO Bob Kelly told the bank's senior managers he is not interested in the top job at Bank of America Corp , defusing speculation that he would leave his current post.

Comment?

Related Topix: Financial Services, Banking, Wachovia Corporation

Fresno Bee

Heavyset Fla. man allegedly robs same bank 4 times

At least 50,000 Fresno residents keep their money not in bank accounts, but in wallets, envelopes and even under the proverbial mattress.

Comment?

Related Topix: Fresno, CA, Fresno Metro, Fresno County, CA, Banking, Financial Services

Wed Nov 04, 2009

Telegraph.co.uk

Bank of America general counsel was 'not registered' to practise

Beseiged Bank of America is in further hot water after it emerged the man Ken Lewis chose to act as the bank's general counsel in the month it completed its controversial acquisition of Merrill Lynch, was not fully registered to practise law at the time in his home state.

Comment?

Related Topix: Banking, Financial Services, Merrill Lynch and Co, Investment Services, US Politics, Edolphus Towns, US News, US House of Representatives, Democrat

The Motley Fool

Intel Is Under Legal Fire Again. Should You Care?

Intel is in hot legal water again. New York Attorney General Andrew Cuomo has filed a federal antitrust suit against the chip giant.

Comment?

Related Topix: Semiconductors, Startups, Intel, Electronics, Weezer, Pop/Rock, Advanced Micro Devices, HP, Computers, Banking, Financial Services

AmericanBankingNews.com

CIT Group (NYSE:CIT) Wins Concessions and Approval for Fast-Track Bankruptcy

In its bid to survive bankruptcy, CIT Group was granted unusual and unprecedented concessions, while also gaining approval for a fast-track bankruptcy, which is scheduled to be exited in December 2009.

Comment?

Related Topix: Banking, Financial Services, CIT Group, Economics News, Bankruptcy

Bradenton.com

PART 4 of 4: Why did Goldman gamble on subprime?

Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, highflying firms - companies such as New Century Financial Corp.

Comment?

Related Topix: Investment Banking, Financial Services, Goldman Sachs Group, Investment Services, Home, Mortgage, Banking

Amarillo.com

AHF says bank offered bum advice

Troubled nonprofit American Housing Foundation is suing financial giant Bank of America for at least $20 million because of a $249 million bond issue gone bad.

Comment?

Related Topix: Banking, Financial Services, Non-Profit, Amarillo, TX, Amarillo Metro

Tue Nov 03, 2009

Globeinvestor.com

U.S. banks set for a pay bonanza

If the banks continued that pace, they would far surpass what they paid in 2008, though fall short of the watershed paydays of 2007, when the financial sector was still booming, the analysis found.

Comment?

Related Topix: Investment Banking, Lehman Brothers Holdings, Financial Services, Investment Services, Bear Stearns, Goldman Sachs Group, Banking

Bloomberg.com

CIT Group Judge Allows Reorganization on Fast Track, Seeks Dec. 8 Hearing

CIT Group Inc. , the bankrupt 101- year-old commercial lender, can borrow an immediate $125 million and make intercompany loans as it attempts to exit bankruptcy on a fast track and keep its customers funded.

Comment?

Related Topix: CIT Group, Financial Services, Economics News, Bankruptcy, Banking

atlanta.bizjournals.com | chetwest

Union: Require BofA to set succession plan

A labor union pension fund isn't happy with Bank of America Corp. 's search for a new CEO and is petitioning the bank to have a succession plan in place from now on.

Comment?

Related Topix: Pension, Personal Finance, Financial Services, Banking

charlotte.bizjournals.com | chetwest

Report: Next BofA CEO may live in New York

This is the kind of news Charlotte boosters have dreaded. Bloomberg reports this morning that the Bank of America board of directors has expanded its search for the bank's next CEO to include people who want to live and run the company from New York, not its current headquarters in Charlotte.

Comment?

Related Topix: Banking, Financial Services, Merrill Lynch and Co, Investment Services, Home, Mortgage

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