Bank of America
For Thousands of Homeowners Behind on BofA Mortgages, Relief May Be in the Mail
Bank of America announced it has begun mailing letters to the first wave of up to 200,000 homeowners who are eligible for mortgage principal reductions, part of a settlement the bank worked out with the federal government and 49 …
Bank of America, Chase Fees Target of Consumer Ire Again
Updated: 6:15 p.m., March 1
Bank fees are in the spotlight again. The Wall Street Journal reported that Bank of America is planning to roll out new checking-account fees, and the news stirred up negative sentiment in the social mediaverse almost immediately, with consumers reacting angrily to the idea. Chase, meanwhile, wants to charge …
Is the $25 Billion Foreclosure Settlement a Stealth Bank Bailout?
Who Qualifies for the $26 Billion Foreclosure Settlement?
It took over a year for lawmakers and state AGs to agree to the terms of the $26 billion foreclosure settlement announced this week, and it could take up to another three years for eligible homeowners to see a share of that …
Three Cheers and Three Jeers for $25 Billion Foreclosure Settlement
A key step was taken yesterday in moving the country beyond the housing crisis, a crisis that triggered the worst recession in decades and whose lingering effects continue to hinder the nation’s nascent recovery. The deal, which …
White House Announces $25 Billion Mortgage Settlement
This post was updated at 1:25pm
It’s been a long slog, but government officials and representatives from major U.S. banks have come to terms on a settlement that would put an end to federal and state investigations into …
Deals as Debit Rewards? Bank of America Brings Back Debit Card Rewards With a Twist
If you think your bank’s CEO lies awake at night thinking of ways to take away your customer perks, here’s a surprise: debit rewards are coming back. Sort of. Bank of America is testing a pilot of a new merchant-funded reward …
Bank of America’s $5 Debit Fee Led to More Account Closings, CEO Says
A lot of people got really bent out of shape when Bank of America announced last fall that it would start charging a $5 monthly debit card fee. Online petitions were launched as the blogosphere and social media sites like Twitter overflowed with messages denouncing banks in general and Bank of America in particular.
Despite Good Earnings, Big Banks Far From Fixed
You can’t have a strong economy without strong banks. That’s why President Bush’s and, later, President Obama’s first attempts to save the economy from a deep recession were focused around bank bailouts. And the fact that the …
More Fees, Fewer Branches As Banks Cope With Lower Profits
Several big banks have reported their earnings over the past week, and the results aren’t pretty: JP Morgan Chase & Co. had a 23% drop in profits, Citigroup’s fell 11% and regional bank PNC Financial Services Group suffered a 40% …
Davos 2012: “The Great Transformation: Shaping New Models”
Next Wednesday marks the launch of the World Economic Forum in Davos, Switzerland. The annual meeting of the most powerful men and women in business, government and the non-profit world will focus on the theme “The Great …