BankOfAmerica

Bank of America Bad-Loan Provisions at 2007 Level

Because Bank of America serves about half the nation's households, the results could be seen as a statement about the progress Americans have made in managing their household finances, saving more and paying back debt.

Fee Backlash Cost Big Banks Over 2 Million Customers

Switching banks is a hassle, but outrage over the big financial institutions' efforts to pile on new steep fees pushed more than 2 million people to close their accounts over the past 3 months. Is Bank Transfer Day becoming Bank Transfer Year?

Music Video Moves BofA on Stalled Mortgage Loan

It might not be the right method for everyone seeking a home loan, but it worked for one Georgia couple: A music video that went viral got Bank of America to close on Ken and Meredith Williams' long-delayed mortgage.

Battered Bank of America Kills Debit Card Fee Plan

Is Occupy Wall Street working? Bank of America announced on Tuesday that it's dropping its plan to charge a $5 monthly fee to customers who use debit cards for purchases. "We have listened to our customers very closely over the last few weeks" said a top bank official, explaining the reversal.

Why All of Us Might Pay for BoA's $5 Fee

Last week, Bank of America ignited a firestorm of controversy by choosing to charge its customers $5 a month to use their debit cards. Now, an angry consumer group has called for a federal investigation. Is this overkill or a smart response to what could be a budding disaster for the bank -- and taxpayers?

A 5-Step Plan for Dumping Your Bank

With some of the biggest banks raising fees again, many Americans are seriously considering finding new places to keep their money. But with direct deposit and automatic bill pay, moving your checking account can be complex. We talked to a pro for this easy five-step process to handle your bank swap.

What Was Wall Street Thinking Last Week?

Last week's most puzzling moves included Bank of America turning ingrate on its debit card users -- who also pay taxes, and hence bailed BoA out -- Oracle's Larry Ellison and HP writing a new chapter in their feud, Warren Buffett opting for a stock buyback, and Sony refusing to pay for 3-D glasses.

Bank of America Adds $5 Debit Card Fee

The nation's largest bank plans to start charging customers a monthly fee for using their debit card to make purchases. Such a fee was unheard of before this year. Will it soon become an industry norm?

Bank of America May Cut 40,000 Jobs

Bank of America (BAC) may cut 40,000 workers in an attempt to show investors that its management has the discipline to run the firm that many believe...

Warren Buffett Invests $5B Into Bank of America

In a move straight out of October 2008, Warren Buffett's Berkshire Hathaway announced it will inject $5 billion into Bank of America. The bank's shares had been falling apart in recent weeks amid speculation it would have to raise capital.

Bank of America Denies Merger Rumors

Bank of America Corp. (BAC) has sent a memo to employees quashing speculation that it is in talks to merge with rival JPMorgan Chase. The bank called...

Bank Settlements Bring Homeowners a Bit of Relief

This week brought a bit of good news for some troubled homeowners in the form of two separate settlement activities. The FTC has begun mailing refund checks to 450,000 Countrywide customers, and Wells Fargo reached an $85 million settlement with the Fed that will provide relief to up to 10,000 customers.

Bank of America's $8.8 Billion Black Eye

"The largest loss in Bank of America's history." That's the sound bite from the bank's second quarter earnings report, which disclosed an $8.8 billion bottom-line loss. But now that BOA is atoning for its mortgage-related sins, there's a chance its stock may be undervalued.

Is There an Enron SItting In Your Portfolio?

Enron may be the most infamous, but it's just one of many instances of financial chicanery in recent corporate history. Examples of such shenanigans are rich, ripe, and recurring, right up to the present. Learning to spot potential black holes -- which we'll help you do in this series -- will allow you to avoid bad investments and purge your portfolio of ticking time bombs.

New Business for Big Banks: Slumlording

The nation's biggest bailed-out banks have unintentionally entered a new line of work: slumlording. In some cases, major banks have created whole neighborhoods of abandoned and deteriorating foreclosure properties -- and a blight on local municipalities.

The Financial Landscape: BAC Settles, FINRA Flexes

Bank of America will soon finalize an $8.5 billion agreement to settle investor claims that Countrywide sold them lousy mortgage-backed securities before the housing bust. Meanwhile, private regulator FINRA is angling to take over the watchdog role for registered investment advisers.

BofA to Stick Customers With 30% Late Fee

Bank of America credit card holders, beware. If you're late on a monthly payment, that little "oops" might become a big "ouch": Your future balances could be subject to a penalty rate of nearly 30%. But the penalty rate will not be applied to previous balances.

The Dow Jumps as Oil Dips and Banks Rally

After a rough opening session on Monday, stocks rallied sharply on Tuesday. The Dow enjoyed a triple-digit gain after oil prices eased and bank shares bounced higher on the possibility of further dividend payouts and share buybacks.

Stocks Plunge and Oil Spikes
on Libya Turmoil

The Dow suffered a steep triple-digit loss Tuesday as turmoil in Libya ignited a global sell-off in stocks. Oil prices rose sharply, as did safe-haven assets such as Treasurys and the dollar. Disappointing news from Walmart didn't help matters.

Are State-Run Banks a Good Option?

Local news outlets in the state of Washington are reporting that legislators there are considering launching a government-run bank to compete with...

Troubled Borders Gets a New Loan

Troubled book retailer Borders (BGP) conjured up quite the Hail Mary pass just hours before a critical deadline to repay an outstanding loan from its primary stakeholder, Pershing Square Capital Management. Not only did it repay the $42.5 million loan, the company has also entered into an amended and restated revolving credit agreement for $700 million which expires in 2014 -- replacing the previous $360 million revolving credit deal backed by Bank of America (BAC) that was set to expire in July 2011.