Court: U.S. Can Pursue Case Against BofA Over Mortgages
A federal judge rules that the U.S. can pursue parts of a civil lawsuit against Bank of America for its sale of toxic mortgages to Fannie Mae and Freddie Mac.
BofA
U.S. Sues Bank of America for $1 Billion for Mortgage Fraud
The top federal prosecutor in Manhattan says he's suing Bank of America for $1 billion for mortgage fraud against Fannie Mae and Freddie Mac. U.S. Attorney Preet Bharara says Countrywide had procedures designed to process loans at high speed and generated thousands of fraudulent loans.
Bank of America Spoof Site Shows the Joke's on Us (But It's Not Funny)
Prankster activists the "Yes Men" got the better of Bank of America recently, but the facts they highlighted are serious. Despite massive government bailouts, BofA executives are still putting their own interests above those of their customers.
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.
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 Says It's Ready to Exit TARP
Bank of America has told U.S. regulators that it has met the final condition that was set on its plan to exit the government's Troubled Asset Relief Program. BofA, which repaid $45 billion in TARP funds in December 2009, needed to raise $3 billion in capital by the end of 2010.
Testimony Pokes Holes in Bank of America's Defense
Bank of America challenges testimony by one of its operational leaders -- that Countrywide may have held on to homeowners' notes that it should have put into a trust. But the testimony is reinforcing fears that BofA is in big trouble.
Bank of America May Pay Employee Bonuses in Stock
As Bank of America continues to cope with fallout from the housing and mortgage crisis, the financial institution may have to pay some year-end employee bonuses in the form of stock because of a possible cash shortfall related to its buy-back of stock from the federal government.
Legal Briefing: BofA's Ex-CEO Pours Scorn on NY AG's Charges
New York Attorney General Andrew Cuomo has sued Bank of America over its Merrill Lynch takeover, claiming it failed to disclose what bad shape Merrill was in before shareholders voted on the deal. Responses to the charges have been filed, with ex-CEO Ken Lewis' the most aggressive.
Fannie Mae Employees Got VIP Loans from Countrywide
Newly released documents from the House Committee on Oversight show that Fannie Mae employees accepted special loans and treatment from Countrywide Financial years before the 2008 mortgage meltdown brought financial markets to their knees.
