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Bank of America Wins Order on $1 Billion in Colonial Bank Assets

Bloomberg, New York - Bank of America Corp. won a restraining order barring Colonial Bank, the Alabama lender under federal criminal investigation, from selling or otherwise disposing of $1 billion in...

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Bank of America CEO Ken Lewis to Step Down at End of 2009

No surprise on this announcement.  Currently, two lawsuits have been filed against the national bank for the Merrill Lynch acquisition that included bonuses that have been alleged to “not” have been...

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Bank of America’s Next CEO May Be Based in New York City

This is good news that they are looking to have their banking operations headed from NYC where many still see it as the financial center of the world.  Charlotte is suitable for handling overall...

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Bank of America Posts Loss of $5.2 Billion After Firm Repays Bailout

The market sold off strong today on 3 big banks (Wells, Morgan and BofA) all reporting losses and increasing of loan loss reserves.  This throws a wrench in the whole recovery picture and brings...

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Former Bank of America CEO Ken Lewis Sued by NY AG for Fraud

Good to see proper investigations are to taking place after this massive financial fraud that was bought to bear on people across the globe.   In this case they are looking into the $16 billion dollars...

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Bank of America puts short sales ahead of repossession

Housing Wire – Bank of America, one of the largest lenders in the U.S., has instituted a policy of liquidating as many assets saddled with defaulted loans as possible before repossession, said Matt...

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U.S. DoJ sues Bank of America, citing alleged “fraudulent conduct”

We all knew that the Countrywide merger was ill timed compared to what was happening in the mortgage industry at the time.  Most commentators on the subject talked about how this would become a...

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