Bank of America Related Content

U.S. Bank, Bank of America Win Dismissal of Mortgage Suits

Bloomberg reported that a U.S. district judge dismissed three suits alleging breaches over mortgage-backed securities by U.S. Bank and Bank of America. read more

BofA: 64% of Small Business Owners Still Recovering from Great Recession

Seven years after the “Great Recession,” two-thirds (64%) of small business owners report their businesses are still in the process of recovering, according to Bank of America’s spring 2015 Small Business Owner Report. read more

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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