Bank of America Related Content

Bank of America Swings to Profit on Lower Litigation Costs

Bank of America reported Q1/15 earnings of $3.4 billion compared to a loss of $276 in the year-ago period. The bank noted that Q1/14 performance included litigation costs of $6.0 billion versus $370 million this year. read more

Ex-Bank of America SVP Admits to $6.4MM Fraud

The Federal Bureau of Investigation announced that a former senior vice president at Bank of America pleaded guilty to misapplication of bank funds in a scheme that led to more than $6.4 million in losses to BOA. read more

Bank of America FY Earnings Off 58% on $16.4B of Litigation Costs

Bank of America reported full year net income was $4.8 billion, down 58% from $11.4 billion a year earlier. The bank noted its litigation expense of $16.4 billion in 2014 was up from $6.1 billion a year earlier. read more

Ambac Sues Bank of America Over Countrywide MBS

Reuters reported that Ambac Assurance sued Bank of America to recoup losses from insuring nearly $1.7 billion of securities backed in part by risky mortgages from the bank’s Country Wide Loans unit. read more

Countrywide Whistleblower Gets ‘Historic’ $57.6MM

CNNMoney reported that former Countrywide Financial executive Edward O’Donnell may collect approximately $57.6 million from Bank of America for his role in divulging the firm’s fraudulent activity. read more

BofA Swings to Q3 Loss on Litigation Expense

Bank of America said its Q3/14 financial results will be adjusted to include a $400 million litigation expense related to its foreign exchange business that will result in a net loss of $232 million. read more

Bank of America Reports Q3 Loss on Legal Charge

Bank of America reported a Q3/14 net loss of $70 million after deducting dividends on preferred shares. The results included a pretax charge of $5.3 billion for the mortgage-securities settlement. read more

Bank of America Commits $10B to Clean Energy

Bank of America announced an initiative designed to stimulate $10 billion of new investment into high-impact clean energy projects. read more

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