Topic - Bank Of America

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  • Fla. Ponzi scheme investors sue bank for $385M

    Investors in the $1.2 billion Ponzi scheme operated by former Florida lawyer Scott Rothstein have sued Bank of America and some of its employees.

  • Cook County sues banks for predatory lending

    Cook County officials have filed a lawsuit contending two major banks helped cause the Chicago area's foreclosure crisis by marketing predatory loans to black and Latino borrowers.

  • In this Nov. 7, 2013 photo, Charlotte Mayor-elect Patrick D. Cannon speaks at his first post-election appearance at Romare Bearden Park in uptown Charlotte, N.C. U.S. Attorney Anne Tompkins said Wednesday, March 26, 2014, that Charlotte Mayor Patrick Cannon is facing theft and bribery charges. Tompkins says Cannon solicited and accepted bribes from undercover FBI agents posing as real estate developers who wanted to do business in Charlotte. (AP Photo/The Charlotte Observer, Jeff Siner)

    Charlotte mayor's arrest taints city's image

    Patrick Cannon's rise to mayor began with his election to City Council in 1993, at a time when Charlotte was emerging as a major banking center.

  • ** FILE ** In this Tuesday, Jan. 14, 2014, photo, a Bank of America sign is displayed in Philadelphia. (AP Photo/Matt Rourke)

    Bank of America to pay $9.3B to make federal dispute go away

    Bank of America agreed to pay $9.33 billion to put to rest a long-running mortgage securities dispute with the Federal Housing Finance Agency, which accused the lender of falsely representing loans that went south when the housing bubble burst.

  • This handout photo provided by Jeanne Moutoussamy-Ashe titled "Susie Standing Next to Holy Picture" is part of photographs donated by Jeanne Moutoussamy-Ashe to the African-American history museum at the Smithsonian. Bank of America officials tell The Associated Press they will give the museum 61 photographs by Moutoussamy-Ashe, the wife of the late tennis player Arthur Ashe. She documented Daufuskie Island between 1977 and 1981 and the Gullah/Geechee people who lived there. (AP Photo/Jeanne Moutoussamy-Ashe, Smithsonian)

    Photos of slave descendants donated to Smithsonian

    A "time capsule" of photographs documenting the descendants of slaves on a long-isolated island off the South Carolina-Georgia coast will have a new home at the Smithsonian's African-American history museum.

  • Former Del. bank exec pleads guilty to sex charge

    A former Bank of America executive faces a minimum sentence of 10 years in federal prison after pleading guilty to trying to arrange a sexual encounter with a 13-year-old girl.

  • SEC rejects NY fund's request for bank disclosures

    The Securities and Exchange Commission has rejected shareholder proposals from New York's comptroller that would have asked two major banks to disclose which employees are capable of exposing them to major losses because of their portfolios and bonus incentives.

  • NY comptroller pushes bank high-risk disclosures

    New York's comptroller is urging two major banks to tell shareholders which employees are capable of exposing them to major losses because of their portfolios and bonus incentives.

  • This undated frame grab provided by Beats shows the company's 2014 Super Bowl commercial. Beats by Dre, the popular headphones and audio equipment producer has enlisted Ellen DeGeneres to star in its debut Super Bowl ad running in the third quarter that promotes Beats Music. (AP Photo/Beats)

    Music a big focus in Super Bowl ads

    Music is taking center stage at the Super Bowl - and not just during the halftime show.

  • NY judge OKs $8.5B Bank of America settlement

    A New York judge on Friday approved most of the $8.5 billion Bank of America settlement over investor losses from mortgage-backed securities, concluding that trustee Bank of New York Mellon acted reasonably with one exception.

  • ** FILE ** Bank of America. (Associated Press)

    On the right, a rising passion for shareholder activism

    Some on the right are now embracing shareholder activism, using tactics pioneered on the left that have turned America's corporate boardrooms and annual meetings into battlegrounds over causes ranging from climate change and gay rights to universal health care and campaign spending reform.

  • A Wall Street sign hangs near the New York Stock Exchange in New York. (AP Photo/Jin Lee)

    Stocks are little changed Monday after record week

    Bank of America led a rally in big-bank stocks Monday in a mostly quiet trading day. Stock indexes were little changed following a record-setting week.

  • A Bank of America branch is shown in a Charlotte, N.C. (AP Photo/Chuck Burton)

    Bank of America to pay $500M to settle mortgage investors' class-action suit

    Bank of America has agreed to settle a class-action lawsuit brought by investors who bought mortgage investments from Countrywide Financial, the California-based lender it acquired in 2008. The announcement came as the nation's second-biggest bank reported higher net income for the first quarter but missed analysts' expectations.

  • Countrywide Financial Corp. is accused of loosening its standards for making loans while telling Fannie Mae and Freddie Mac, which were buying loans from Countrywide, that the standards were getting tighter. (Associated Press)

    Countrywide ‘brazen’ on bad loans

    The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged workers to churn out loans, accepted fudged applications and tried to hide ballooning defaults.

  • ** FILE ** In this July 8, 2009, file photo, Rep. Edolphus Towns, D-N.Y., speaks during a committee hearing on Capitol Hill, in Washington. (AP Photo/Manuel Balce Ceneta, File)

    House members' VIP loans excluded from subpoena

    A Democratic committee chairman overrode his own subpoena three years ago in an investigation of former subprime mortgage lender Countrywide to exclude records showing that he, other House members and congressional aides got VIP discounted loans from the company, documents show.

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