Tag Archives: bank of america

Bank of America and Royal Bank of Scotland — Moody’s Warns of Heightened Risk

Posted on 21. Feb, 2012 by .

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NEW YORK, NY, Feb 20, 2012 (MARKETWIRE via COMTEX) — Banking stocks worldwide continue to outperform the market this year despite a recent warning from Moody’s that 114 major banks are under review for a possible downgrade. The Financial Select Sector SPDR Fund (XLF) — which seeks to replicate an index comprised from diversified financial services; insurance; commercial banks; capital markets; real estate investment trusts (REITs); consumer finance; thrifts and mortgage finance; and real estate management and development — is up more than 12 percent year-to-date as investors jump back into the sector after a major selloff in 2011. The Paragon Report examines investing opportunities in the Money Center Banking Industry and provides equity research on Bank of American Corporation /quotes/zigman/190927/quotes/nls/bac BAC +0.50% and the Royal Bank of Scotland Group PLC /quotes/zigman/530544/quotes/nls/rbs RBS +1.70% /quotes/zigman/155978 UK:RBS -1.97% . Access to the full company reports can be found at:

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Bank of America to pay $335M to settle claims of unfair Countrywide loans

Posted on 22. Dec, 2011 by .

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Bank of America agreed Wednesday to pay $335 million to settle federal claims that its Countrywide Financial unit charged black and Hispanic borrowers higher mortgage fees in the lead up to the financial crisis and steered them into riskier loans than their white counterparts.

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U.S. Bank buys $700 million credit portfolio from BofA

Posted on 22. Dec, 2011 by .

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U.S. Bank has bought a $700 million portfolio of credit cards from Bank of America, as BofA exits the business of handling cards for other financial institutions.

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Bank of America to Hire More Than 160 Financial Solutions Advisors Throughout Southern California and Arizona

Posted on 13. Dec, 2011 by .

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Bank of America today announced it is hiring more than 160 Merrill Edge Financial Solutions Advisors (FSAs) across Southern California and Arizona by the end of first quarter 2012. This includes hires in Los Angeles, San Diego, Orange County and Phoenix, and will bring the total number of FSAs in banking centers to more than 250 in that region. In addition, 110 FSAs are also located in the Merrill Edge Advisory Center in Chandler, Arizona.

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Local Couple Sues Bank of America Over Improper Penalties

Posted on 07. Dec, 2011 by .

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San Diegans Rick and Susan Dolfo have launched a class action suit against Bank of America, claiming breach of contract, unfair competition, violation of the Rosenthal Fair Debt Collection Practices Act, and violation of the Consumer Credit Reporting Agencies Act.

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S&P downgrades 6 biggest US banks

Posted on 01. Dec, 2011 by .

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(MoneyWatch) Standard & Poor’s ratings service has cut the ratings of the six largest U.S. bank holding companies by one notch. JP Morgan Chase went from A+ to A; Goldman Sachs, Bank of America, Morgan Stanley and Citigroup were downgraded from A to A-; and Wells Fargo was cut from AA- to A+. Among the eight largest banks, only Boston-based State Street escaped unscathed.

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Judge takes $8.5 billion BofA deal from state court

Posted on 21. Oct, 2011 by .

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(Reuters) – A judge on Wednesday decided to keep a proposed $8.5 billion settlement over Bank of America Corp’s (BAC.N) mortgage-backed securities in federal court, potentially dragging out the litigation.

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Obama blasts Bank of America debit card fee

Posted on 06. Oct, 2011 by .

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President Obama slammed Bank of America’s $5 debit card card fee in an interview with ABCnews.com and Yahoo on Monday, calling the charge “not good business practice.”

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Bank of America Hires 180 Merrill Edge Financial Solutions Advisors Throughout New Jersey

Posted on 19. Sep, 2011 by .

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HOPEWELL, N.J.–(BUSINESS WIRE)– Bank of America today announced the hiring of 180 Merrill Edge Financial Solutions Advisors (FSAs) throughout New Jersey this year, including 155 FSAs stationed in the Merrill Edge Advisory Center in Hopewell, and 26 in banking centers across northern and central New Jersey. These FSAs provide financial solutions and guidance to help customers manage their banking and investment needs and stay in better control of their finances. The hiring is part of Bank of America’s plan to nearly double the number of Financial Solutions Advisors nationally, to more than 1,000, by the end of 2011 as part of its overall commitment to enhance the solutions and guidance it offers to Preferred customers.

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USAA Federal Savings Bank listed among top U.S. lenders

Posted on 31. Aug, 2011 by .

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USAA Federal Savings Bank named one of the top 50 banks and thrifts Follow this company .was ranked No. 32 among the top 50 banks and thrifts in the country based on total assets.

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