Bank of America

  • BofA to consider Countrywide bankruptcy

    The scent of blood is in the water. As the sharks continue to circle, Bank of America (BofA) reportedly is considering taking drastic steps to protect itself from the tsunami of lawsuits continually flooding the company in the wake of the Countrywide Financial Corp. takeover.

  • BofA sat on knowledge of AIG lawsuit for 7 months

    The seemingly endless saga of companies suing Bank of America Corp. (BofA) over losses related to mortgage-backed securities took another turn yesterday as reports surfaced that the bank knew as early as January that American International Group Inc. (AIG) intended to sue the company for $10 billion—a full seven months...

  • Goldman Sachs now under gun from mortgage lawsuits

    Perhaps feeling left out thanks to Bank of America (BofA) to getting all of the ink lately devoted to mortgage-backed securities lawsuits, Goldman Sachs Group yesterday grabbed a few headlines of its own.

  • AIG sues BofA over billions in losses

    American International Group Inc. (AIG) has filed suit against Bank of America (BofA) in an effort to get back some of the billions of dollars the insurer says it lost as a result of BofA’s massive financial fraud.

  • BofA seeking shield from further suits

    Just days after news broke that Bank of America (BofA) is facing a new lawsuit from 15 former Countrywide Financial Corp. investors that lost money during the housing collapse comes word that the company is now looking to the government for help shielding itself from further litigation.

  • BofA still bleeding from Countrywide conundrum

    Things continue to worsen for Bank of America (BofA). After hoping to quell the disquiet from former Countrywide Financial Corp. investors that lost money during the housing collapse with an $8.5-billion settlement last month, BofA is facing a new suit from 15 plaintiffs that believe the agreement is unfair.

  • Union Bank’s overdraft fee fiasco

    You know a company may have a bit of a customer service problem when its patrons start leveling lawsuits at them. Such is the plight of San Francisco-based UnionBanCal Corp., whose customers raised their figurative torches and pitchforks in revolt against the group of 30 banks because of their allegedly...

  • Bank of America closing on $8.5 billion settlement

    Dominoes from the U.S. housing collapse continue to fall. Coming just a week after reports surfaced that Bank of America Corp. (BofA) faced lawsuits from union and public employee retirement funds due to losses on mortgage-backed securities, BofA yesterday announced it has agreed to pay $8.5 billion to settle claims...

  • BofA/Merrill’s mortgage-backed securities morass

    Just days after Countrywide Financial was in the news again thanks to Allstate Insurance Co.’s lawsuit against it to recoup $700 million in losses on mortgage-backed securities, a federal judge ruled that Bank of America and its Merrill Lynch unit will face a pair of similar lawsuits brought by a...

  • Allstate securities case suffers setback

    Apparently a little “mayhem” has caught up with Northbrook, Ill.-based Allstate Insurance Co.

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