Bank of America

  • 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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