bank of america

"Smart" Meters Could Help Itron

Tue, 18 Nov 2008 18:00:07 -0600

More news on the economy, this time from Bank of America Chief Executive Kenneth at a speech today at The Detroit Economic Club. He told the Club that it is "pretty clear" the U.S. economy is in a recession, adding there will be “no recovery until the housing market stabilizes around the middle of 2009.” "We won't see a real turnaround until the core problem, housing, reaches a bottom, stabilizes and turns the corner. Lewis calls for a $500 billion economic stimulus plan from Washington, primarily to help homeowners behind on their mortgages. "I can't promise the pain won't get any...

Saluting a Banker in a Banking Year Worth Forgetting

Sun, 02 Nov 2008 19:52:27 -0600

The trade publication American Banker unveiled its Banker of the Year award last week: It went to Kenneth D. Lewis, chief of Bank of America.

Surviving the online credit crisis fallout

Tue, 21 Oct 2008 09:40:03 -0500

Security outfit MessageLabs today warns that as the credit crisis worsens so there has been a shift to the online arena for making money via spoofing banks for phishing scams. Between August and September this kind of phishing attack grew by 16 percent, but during September and October it has leapt up 103 percent. With seemingly never ending change prevailing in the global banking system, the crafty scammers are quick to take advantage of the merger and bailout feeding frenzy by targeting the likes of Bank of America, Wachovia, Chase Manhattan and Washington Mutual. On one day, the 16th...

Merrill Reports Its Fifth Quarterly Loss

Thu, 16 Oct 2008 08:37:17 -0500

Merrill Lynch, the investment bank that sold itself to Bank of America last month, reported a third-quarter loss on Thursday of $5.1 billion, or $5.56 a share.

Bank of America to buy back $4.7B in securities

Wed, 08 Oct 2008 13:09:52 -0500

Federal regulators say Bank of America Corp. has agreed to buy back as much as $4.7 billion in auction-rate securities to settle charges that it misled thousands of customers about the risky investments.

Bank of America, RBC settle securities cases

Wed, 08 Oct 2008 13:09:52 -0500

Bank of America Corp. has agreed to buy back as much as $4.7 billion in auction-rate securities to settle charges that it misled thousands of customers about the risky investments, federal and New York state regulators said Wednesday.

BofA to cut dividend in half, sell stocks

admin — Mon, 06 Oct 2008 16:55:29 -0500

Bank of America Corp.'s third-quarter profit fell 68 percent and the bank says it's selling stock and halving its dividend to boost capital.

Bank of America reports profit drop, capital raise

Mon, 06 Oct 2008 16:38:46 -0500

Bank of America Corp.'s third-quarter profit fell 68 percent and the bank says it's selling stock and halving its dividend to boost capital.

BofA to pay $8 billion over subprime suit

admin — Mon, 06 Oct 2008 12:28:40 -0500

Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes.

Bank of America settles lawsuit over bad mortgages

Mon, 06 Oct 2008 00:01:39 -0500

Facing a lawsuit over deceptive mortgage practices, a Bank of America Corp. subsidiary has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois attorney general's office said Sunday.