Bank of America news stories on Newser

Protesters to Swarm BofA Annual Meeting

Evann Gastaldo — Wed, 09 May 2012 07:40:30 CDT

Today’s annual Bank of America shareholder meeting is going to be a little crowded: Protesters are planning to show up in full force at the bank’s headquarters in Charlotte, NC. The demonstrators, inspired by the Occupy Wall Street movement, are calling their group 99% Power and plan on expressing anger...

Bank of America Laying Off Elite Bankers

Kevin Spak — Tue, 01 May 2012 09:52:00 CDT

Bank of America plans to lay off 2,000 of its highest paid employees in its investment banking, commercial banking, and non-US wealth management units, sources tell the Wall Street Journal . Those operations just happen to be the ones that expanded with BofA's acquisition of Merrill Lynch, which has been...

Citi Shareholder Revolt Bad News for Other Big Banks

Evann Gastaldo — Thu, 19 Apr 2012 08:16:05 CDT

Now that shareholders have rejected Citigroup CEO Vikram Pandit's $15 million pay package, all eyes are on Wells Fargo and Bank of America, both of which are holding their own "say on pay" votes in the coming weeks. The votes are required as part of post-financial crisis financial reform laws,...

Electronic Arts Takes 'Worst Company' Honors

John Johnson — Sat, 07 Apr 2012 11:18:29 CDT

The Consumerist website has wrapped up its own version of spring brackets, and voters have picked Electronic Arts as the worst company in America. The maker of video games took the honors by a wide margin over Bank of America, with AT&T and Wal-Mart also cracking the Final Four. So...

Facing Foreclosure? BofA to Let You Rent Your Home

Kevin Spak — Fri, 23 Mar 2012 12:11:05 CDT

Falling behind on your Bank of America mortgage? Well, what would you say if the bank offered to take your house, but let you rent it for a while? That's the idea behind a new "Mortgage to Lease" pilot program that BofA is rolling out in select markets in Arizona,...

Bank of America Is a Crime Syndicate

Kevin Spak — Wed, 14 Mar 2012 13:55:05 CDT

Matt Taibbi gives Bank of America the " vampires squid " treatment today, savaging "the ultimate Too Big to Fail bank" as "a hypergluttonous ward of the state whose limitless criminal conspiracies we'll all be paying for until the end of time," in a lengthy Rolling Stone piece. "These guys are some...

Bank of America Readying New Fees

Polly Davis Doig — Thu, 01 Mar 2012 07:24:56 CST

The public relations disaster that was Bank of America's plan to charge customers monthly debit card fees was apparently so much fun that bank execs can't wait to try it again: In what the Wall Street Journal calls a sign of "stresses" in the banking industry, BofA is again looking...

Florida Man Tried to Cash $100 Check ... Gets $3.3M

Kate Schwartz — Thu, 16 Feb 2012 11:22:05 CST

It's not every day that you walk into a bank planning to cash a $100 check—and ultimately find yourself $3.3 million richer. That's what happened to Rodolfo Valladares, just not quite that smoothly. Valladares, sporting a Miami Heat hat, walked into a Florida Bank of America in July...

Moody's Slaps Wall Street's Big Banks With Review

Kevin Spak — Thu, 16 Feb 2012 08:31:44 CST

Moody's isn't feeling great about the health of the financial industry right now. The rating agency put a host of banks under review for possible downgrade today, including US giants Bank of America, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley, the Wall Street Journal reports. It said the banks now...