Bank of America News

Tom Storrs, second from left, headed North Carolina National Bank in the 1970s. He posed two years ago with three other executives of the bank that eventually became Bank of America.

U.S. lenders including Bank of America Corp. still face years of litigation and billions of dollars in liabilities tied to the housing collapse after agreeing to settle a probe of abusive foreclosure practices.

We've been demanding for years now answers to a core question coming from the financial collapse of 2008.

Many banks seem to be exiting the mortgage industry at its bottom which, in my opinion, is a grave mistake.

Some states and five banks - Bank of America , JPMorgan Chase , Wells Fargo , Citigroup and Ally Financial -A are on the brink of finalizing a $25 billion deal over problematic foreclosure practices.

The following five companies are all selling cheaply in terms of earnings, relative to main competitors in the industry that they operate.

The $25 billion foreclosure agreement between big banks and state attorneys general marks a turning point for lenders, including Charlotte's Bank of America Corp., looking to move beyond their mortgage woes, some industry experts say.

The foreclosure settlement involving Illinois and 48 other states is much ado about $25 billion, but for homeowners still in a heap of financial trouble, it signifies little besides more pain.

TheA Dow Jones Industrial Average A finished the week down 0.5% at 12,801. Most of the week centered around the debt drama in Greece and whether the country prefers to default or accept a bailout.

NEW YORK Massachusetts' securities regulator on Friday subpoenaed Bank of America Corp.

Bank of America upped their price target on shares of Red Robin Gourmet Burgers from $33.00 to $37.00 in a research note issued on Friday.

"Warren Buffett's stake in Bank of America Corp. increased in value by $154 million after President Obama and the U.S. Justice Department announced a $25 billion foreclosure abuse settlement with the five largest U.S. banks Thursday," Patrick Howley of The Washington Free Beacon writes.

"When we went into the United States, we refused to do subprime lending," said Edmund Clark, CEO of Toronto-based Toronto-Dominion Bank.

Bank of America Corp : Massachusetts regulators said that they were subpoenaing Bank of America Securities to investigate if the lender knowingly overvalued assets, after investors lost about $150M in investments involving collateralized loan obligations, reported Reuters.

Investment analysts at Bank of America raised their price target on shares of Polo Ralph Lauren Corp from $160.00 to $175.00 in a note issued to investors on Friday.

Richard Bove, an analyst at Rochdale Securities LLC, talks about an agreement by five banks including Citigroup Inc.

"Banks that were bailed out with taxpayers' dollars will be required to right these wrongs," President Barack Obama said.

On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange.

In this Tuesday, Aug. 23, 2011 file photo, Bank of America Merrill Lynch traders work on the floor of the New York Stock Exchange in New York.

In this Tuesday, Aug. 23, 2011 file photo, Bank of America Merrill Lynch traders work on the floor of the New York Stock Exchange in New York.