bank of america

4 Tips to Avoid the Payday-Loan Trap

This week JPMorgan Chase announced protections against payday lenders. But big banks can't stop the cycle of devastation payday loans can cause. Only you can, and here's how.

Dow Closes at Another High, Eyes Turn to U.S. Payrolls

U.S. stocks closed modestly higher on Thursday, with the Dow ending at a record for a third straight day as jobless claims data pointed to a pick-up in the labor market's recovery a day before the closely watched payrolls report.

U.S. Stocks Edge Up Following Dow's Record Day

Stock futures are rising ahead of new jobs and manufacturing data expected to show that companies continue to bring more workers on board and businesses are ramping up factory orders to meet demand.

New Credit Card Gives Cash Back for Paying Your Bill

The BankAmericard Better Balance Rewards card, a new credit card from Bank of America, will pay you to repay them: It offers cash rewards of up to $120 a year to cardholders who pay off more than the minimum balance every month.

Dow 14,000 Is Back ... But Does That Really Mean Anything?

On Wednesday, the Dow Jones Industrial Average closed at 14,075, its highest close in the past five years, and within 90 points of its all-time high: 14,164, reached on Oct. 9, 2007. But what does that really mean for you, or the economy as a whole?

FDIC: Banks Earn $141.3 Billion in 2012, Second-Highest Annual Haul Ever

Profits at U.S. banks jumped almost 37 percent for the October-December period, reaching the highest level for a fourth quarter in six years as banks continued to step up lending. The figures are fresh evidence of the industry's sustained recovery more than four years after the financial crisis.

Goldman Sachs Plans Another Round of Job Cuts

Goldman Sachs will begin a fresh round of job cuts as early as this week, sources said Monday. The bank usually culls the weakest 5 percent of its employees around this time of year, but the cuts will likely be deeper in some businesses, particularly equities-trading.

Without Taxpayer Aid, Too Big to Fail Banks Would Only Break Even

Today brings what seems like a minor milestone in the big banks' fall from grace: a Bloomberg editorial announcing that Wall Street's largest firms would not be profitable without taxpayer backstops, and calling for an end to the perverse incentives that this arrangement produces.

Mortgage Relief Scams Still Going Strong

More than five years have passed since the mortgage bubble began to pop, and scammers taking advantage of homeowners still abound. In fact, the criminals and their techniques have become increasingly sophisticated.

Why It's Really Time to Break Up the Too Big to Fail Banks

When the financial crisis hit, Washington chose to rescue America's biggest banks, lest their failure crush the economy. Now, "too big to fail" has morphed into "too big to jail," and letting them remain that way isn't good for the economy -- or the banking industry.

Bank of America Earnings Shrink Due to Mortgage Settlements

Bank of America says its fourth-quarter earnings shrank as it cleaned up old problems from its mortgage unit, settling one case with Fannie Mae and another with the government. But the modestly positive results still beat the expectations of analysts.

How to Pick the Best Stocks: CEO Candor Predicts Performance

When smart investors consider a stock, they look at profit margins, revenue growth, and a raft of ratios to decide if it's a good buy. But beyond those measurements, here's a subtle and simple guideline that can give you real insight about a company's prospects: How honest is its management?

5 Things to Watch on Wall Street This Week

From eBay stepping up with its latest financials to Facebook showing off its latest clever ideas, there will be plenty of news breaking in the coming days. Here's a rundown of what's likely to shape the week ahead on Wall Street.

13 Money Lies You Should Stop Telling Yourself By Age 30

Age 30 has become the new benchmark for people to get their lives together, and advice on how to do that abounds. But in fact, most of us already know how to succeed: We just happen to let ourselves -- and a few convenient lies -- get in the way.

Gun Maker Claims BofA Withheld Money Over Online Weapon Sales

In the wake of December's Sandy Hook school shootings, the debate over America's gun policy has come to a full boil. And, according to American Spirit Arms, an Arizona gun manufacturer, it has even caused one of the country's biggest banks to take matters into its own hands.

10 Top Banks Agree to Pay $8.5 Billion for Foreclosure Abuses

Ten major banks and mortgage companies have agreed to pay $8.5 billion to settle complaints that they wrongfully foreclosed on homeowners. Under the settlement, people who were wrongfully foreclosed on could receive from a few hundred dollars up to $125,000.

B of A Reaches Settlement with Fannie Mae on Risky Mortgages

Bank of America has reached a settlement with Fannie Mae on residential mortgage loans sold by the bank and its Countrywide unit to the agency ahead of the nation's 2008 financial crisis. The settlement includes a $3.6 billion payment to Fannie Mae.

Fewer U.S. Banks Failing as Industry Strengthens

U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.

9 Questions to Ask to See If Your Bank Is Right for You

The end of the year is a good time to give your financial life a once-over and see what changes need to be made. One item not to forget in that review: your bank. Answering these questions will help you determine whether your money is in the right place, or if it's time for a strategic withdrawal.