Close Topic Options

Bank Of America - Page 3

Two States Sue Bank of America Over Mortgages:

The attorneys general of Arizona and Nevada on Friday filed a lawsuit against Bank of America, accusing it of engaging in "widespread fraud" by misleading customers with "false promises" about their eligibility for modifications on their home mortgages. Ref. Source 3

America Bank

Bank of America Scrambling to Mount Defense Amid Threat of Devastating WikiLeaks Reveal:

A team of Bank of America officials is scrambling to investigate its own documents and executives' hard drives in an effort to be prepared, should WikiLeaks release devastating materials about the bank. Ref. Source 7

Bank Of America History & Civil Business Politics

What Does Wikileaks Have on Bank of America?
By Mary Bottari

In 2008, BofA acquired Countrywide, one of the most aggressive and fraudulent lenders during the housing bubble. The result has been a train wreck of liability and lawsuits for the megabank that now has over 1.3 million customers in foreclosure. Ref. Source 8

Page 3 America Bank

Bank of America to Take $2 Billion Charge on Home Loans:

Bank of America reported Friday that it had a $1.2 billion loss in the fourth quarter of last year, including a previously announced charge of $2 billion reflecting a decline in the value of its home loans and insurance business. Ref. Source 3

America Bank

In the biggest reckoning of the 2008 financial crisis, Bank of America said Wednesday it will pay $8.5 billion to investors burned by fraudulent mortgage securities.

The securities, which packaged numerous home mortgages and sold them to investors, faltered after the housing market collapsed.

Investors said they had been misled by the packages, many of which were highly rated even though they included mortgages from borrowers with questionable credit. Ref. CNN

Bank Of America

Bank of America shells out $8.5 billion to investors after "mortgage mishap":

Bank of America, the nation's biggest bank, agreed to pay $8.5 billion to resolve claims made by bondholders that the lenders sold troubled mortgage-backed securities that soured when the housing market tanked. Ref. Source 2

Bank America - Page 3

Bank Of America's Backdoor Bailout - Dumping Mortgage Trash Onto Taxpayers Via Fannie Mae: -

The official bailout of the financial system may be over, but the government is apparently far from finished propping up big banks, as evidenced by the news that Bank of America has struck a deal to dump a bunch of near-worthless home loans on U.S. Taxpayers. Ref. Source 4

Bank America Politics Business Civil & History - Page 3

You would think that after all the money they've gotten from ridiculous mortgages and help from the government that they would be 'helping the economy' now. Well no, the bright idea Obamanomics had is failing since BOA will be releasing 10,000 employees to the breadline!