bankofamerica

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 is in too many businesses. It is another example of how deep cuts in the private sector, combined with public sector downsizing, could undermine...

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 Corp. (BAC) has sent a memo to employees quashing speculation that it is in talks to merge with rival JPMorgan Chase. The bank called the speculation "baseless," and said it didn't "make practical sense." The nation's largest bank sent the memo on Tuesday as takeover talk swirled...

Bank of America Corp.(BAC), the nation's largest bank, plans to cut 3,500 jobs by the end of September. The cuts amount to a little more than 1 percent of the bank's workforce of roughly 288,000. But they follow a string of other layoffs, including 2,500 already announced this year. A bank...

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.

"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.

Things keep getting worse for Bank of America (BAC). The nation's largest bank reported a loss of $9.1billion during the second quarter, partly due to an $8.5 billion settlement with investors. That agreement, reached in June, settled claims that the bank had sold the investors poor-quality...

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.

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.

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.