Bank of America News

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.

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.

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

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.

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.

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.

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.

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

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.

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.

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

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.

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

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.

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.

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.

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.

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.

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.

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.