U.S. Bancorp claims Bank of America must repurchase loans in the mortgage pool if it misled investors about the quality of the loans. Municipal Bond Insurance Association (MBIA) and the American International Group are among the big institutions who have likewise filed lawsuits against Bank of ...
Bank of America in Times Square, New York. The U.S. government on Tuesday filed two civil lawsuits againstBank of Americafor what the Justice Department and securities regulators said was a fraud on investors involving $850 million of residential mortgage-backed securities. The Justice Department ...
Deutsche, Bank of America settle agency bond rigging Lawsuitsdeutsche bank and bank of America have agreed to pay a combined US$65.5m to settle investor litigation accusing large banks of rigging the roughly US$9trn government agency bond market over a decade. Preliminary settlements totalling US...
However, its journey to the top and remaining there hasn’t been easy; it has faced and defeated lawsuits, bankruptcy, and uncertain futures. Here are some interesting Bank of America facts you can bank on. 1. It Offers More Than Financial Banking Services The Bank of America Corp. offers...
The article reports on a 2013 settlement of lawsuits against Bank of America over alleged misrepresentations on mortgage-backed securities by Countrywide Financial Corp., a subsidiary of the bank as of 2008, noting one was a class-action lawsuit led by the Iowa Public Employees' Retirement System...
Reprints Text This summer, wealth management companies have been facing regulatory queries and hit with lawsuits from customers over paltry rates paid in cash sweep accounts. Now, Bank of America is warning shareholders that it too could face potential legal or regulatory risks related to “the rat...
Banks have faced many lawsuits over the years claiming they sought to illegally maximize overdraft fees. US-based banks took in USD 11.68 billion of overdraft fees in 2019, according to the Center for Responsible Lending, even before the COVID-19 pandemic left millions in financial distr...
Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below. Tony Webster (CC BY 2.0) via Flickr Bank of America Hours of Operation Bank of America Weekend Hours Bank of America Holiday Schedule How to Bank Outside of Business Hours Ba...
2023 u.s. benefits enrollment guide Get to know your Bank of America health and insurance benefits It's time to make your 2023 health and insurance benefits elections At Bank of America, we believe that employees are the foundation of our success, and we offer a variety of health...
While most of Bank of America's third-quarter profit came from one-time asset sales or accounting quirks, investors cheered news that the bank had increased the amount of capital it holds to buffer it from mortgage-related lawsuits. "It looks less likely today than yesterday that this compan...