Bank of America

Local News
1:47 pm
Tue December 16, 2014

Headline Roundup: Tillis Gets Committee Assignments; BofA Fails Two Tests; More

North Carolina’s U.S. Senator-elect Thom Tillis will serve on two military-related committees when he’s sworn in next month. Senate Republicans announced committee assignments  for the 114th Congress yesterday. Tillis will be on the Armed Services and Veterans’ Affairs Committees as well as agriculture and judiciary panels and a special committee on aging.

Read more
Local News
4:59 pm
Wed October 15, 2014

Bank of America Breaks Almost Even Despite Big Settlement

Credit Mike Mozart/Flickr

Bank of America broke roughly even in its third quarter earnings, despite paying part of the massive, more than $16 billion settlement with the federal government over mortgage fraud that helped spur the financial crisis.


Read more
Politics
3:57 pm
Wed September 24, 2014

Corporate Money And Politics: Which Companies Are Most Transparent?

Cover art from the "2014 Corporate Accountability and Disclosure Index."
Credit Courtesy of the the Center for Political Accountability and the Zicklin Center for Business Ethics Research

The amount of corporate money pumped into politics has surged in the four years since the U.S. Supreme Court decided the Citizens United case.

A new report, released Wednesday, examines how transparent the 300 largest public companies in America are about how much they give to political groups and where that money goes.

And some Charlotte area companies are ranked on the list.

Read more
Business
10:11 am
Thu August 21, 2014

Bank Of America Reaches $17 Billion Deal With Feds

Credit Jennifer Lang / WFAE

The U.S. Justice Department and Bank of America have finalized a record settlement of nearly $17 billion. The Charlotte-based bank will pay the government nearly $10 billion and provide an additional $7 billion in consumer relief.

Bank of America has had countless settlements related to its mortgage lending practices that contributed to the financial crisis, but this is far and away the largest. In fact, it's the biggest settlement ever reached between the U.S. Justice Department and a single company.

Read more
Business
2:53 pm
Wed August 20, 2014

Bank Of America Reaches $17 Billion Deal In Mortgage-Backed Securities Case

WASHINGTON Officials familiar with the deal say Bank of America has reached a record $17 billion settlement with federal and state authorities over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis.

The officials say the bank will pay $10 billion in cash and provide consumer relief valued at $7 billion.

They spoke with The Associated Press on condition of anonymity because the deal isn't scheduled to be announed until Thursday at the earliest.

The bank declined comment. 

Read more
Local News
11:57 am
Wed August 6, 2014

Lawmakers Could Return To Raleigh Next Week

A key General Assembly leader says North Carolina lawmakers are looking to return to Raleigh next week to take up some pending legislation. But House and Senate Republicans have agreed to nothing so far. 

Republican Paul Stam is the House's second highest-ranking member. He presided today over a skeleton meeting of the chamber to keep this year's work session going in keeping with the state constitution. 

Read more
Local News
12:19 pm
Wed July 16, 2014

Legal Bills Hurt Bank Of America Again In Q2

Credit Julie Rose / WFAE

Bank of America announced its second quarter earnings Wednesday morning. The nation’s second-largest bank returned to earning a profit, but missed analysts’ expectations, as it still feels the effect of bad mortgages.


Read more
Local News
5:50 pm
Wed June 25, 2014

Bank of America To Lay Off 540 In Charlotte

Credit MoneyBlogNewz / Flickr

Bank of America is laying off 540 employees in Charlotte. The company will cut employment in the city’s Legacy Asset Servicing division by more than half. 


Read more
Local News
7:47 pm
Wed May 7, 2014

Love, Anger And A $4 Billion Error: Bank Of America's Annual Meeting

Bank of America's annual shareholder meeting in uptown Charlotte Wednesday alternated from a love fest to a shouting match. And one issue hovered over the meeting – the announcement last week that Bank of America made a $4 billion mistake.

The meeting got off to an awkward start.

Bank of America board Chairman Chad Holliday was introducing the board members up for reelection when he was cut off by shareholder Richard Davet, who stood up far from the microphone and objected to holding a vote just a week after finding out about the bank's financial error. 

Read more
Local News
2:50 am
Mon April 28, 2014

Bank Of America Suspends Dividend Increase After Misreporting To Fed

Credit Julie Rose / WFAE

Bank of America has suspended its planned dividend increase, after the Federal Reserve found problems in data the bank reported during its most recent stress test.


Read more

Pages