Bank of America on Friday reported a loss of $1.6 billion in the fourth quarter of 2010 after its costs related to soured home loans increased.
Stocks started 2011 with a big lift on Monday, and that could be a promising sign for the rest of the year.
Bank of America Corp. has joined several other financial institutions in refusing to handle payments for WikiLeaks, the latest blow to the secret-releasing organization's efforts to continue operating under pressure from governments and the corporate world.
Bank of America Corp. has joined several other financial institutions in refusing to handle payments for WikiLeaks.
Bank of America Corp. has joined several other financial institutions in refusing to handle payments for WikiLeaks, the latest blow to the secret-releasing organization's efforts to continue operating under pressure from governments and the corporate world.
The problems in the mortgage industry go far beyond the controversy over flawed foreclosure documents and call for an overhaul of the system of administering home loans, the state attorney general leading a nationwide investigation told a Senate panel Tuesday.
President Obama's top housing official said Wednesday that lenders are within their rights to resume foreclosures this month despite allegations that they erred in processing documents. But he said the banks could face fines if found to have broken the law.
Potential flaws in foreclosure documents are threatening to throw the real estate industry into a full-blown crisis, as Bank of America on Friday became the first bank to stop sales of foreclosed homes in all 50 states.
The federal government is looking into allegations that mortgage lenders in the foreclosure crisis have been evicting homeowners using flawed court papers, Attorney General Eric H. Holder Jr. said Wednesday.
