All Entries Tagged With: "bank of america"
Bank of America Gives $3.7 Million In Grants To Nonprofit Lenders Small Businesses To Nonprofit For Microloans
Bank of America Corp, the largest US bank headquartered in Charlotte, North Carolina, has announced Wednesday that it gave 40 grants totaling more than $3.7 million to Community Development Financial Institutions and other non-profit organizations which will help them make use of federal microloan programs. The US largest bank recently began giving $10 million in [...]
Investment Banking Firms: JPMorgan Tops Bank Of America In Investment Banking
JPMorgan Chase & Co., one of the largest financial firms in the US topped a ranking of fees from global investment banking during the first three quarters of the year, despite the fact that it lost market share and its fee revenue declined. The New York-based bank, which substantially gained business during the financial crisis, [...]
Bank of America To Halt All Foreclosures And Sales Of Foreclosed Properties In All 50 States
Bank of America, the largest US banks in assets, has halted all foreclosures and sales of foreclosed properties in all 50 states as part of an investigation regarding the bank’s regulations and policies. Previously we reported that the Charlotte, North Carolina-based bank froze all pending foreclosures in 23 states, the banks said the bank will [...]
Bank Of America, JPMorgan, And GMAC Unit Delaying All Foreclosures Cases In 23 States
Bank of America, the largest bank in America, will delay foreclosures on properties in 23 states due to possible problems with paperwork, to determine whether lenders may have submitted defective documents when repossessing homes. BofA is the largest U.S. bank and at least the third in recent weeks to suspend foreclosures. “We have been assessing [...]
Bank of America May Test New Tiered Fee Structure For Its Customers, Financial Times Says
Bank of America, the largest financial firm in US, may introduce a tiered fee structure modeled on mobile phone service contracts in an attempt to generate additional profit to off-set lost revenue due to restrictions on debit and credit card fees, the Financial Times reports. Under the proposal, the bank will grant rewards to customers [...]
Bank of America Donates $10 Million to Boston Museum Of Fine Arts
Bank of America made an announcement on Monday that t would be giving $10 million to the Boston Museum of Fine Arts, a contribution split evenly between cash and art, including a prized painting by contemporary artist Ellsworth Kelly. After a $5 million contribution from Bank of America as part of the Boston Museum of [...]
Bank of America August Credit Card Write-Offs Surge
Bank of America, the largest bank in America, made a statement on Wednesday that the amount of its credit cards increased during the month of August. The Charlotte, North Carolina-based Bank of America said in a regulatory filing that its charge-off rate rose to 11.72% of balances, up from 11.39% during the month of July. [...]
Bank of America Launches New Credit Card with Zero Transfer Fee
Bank of America successfully launched a new MBNA credit card system that will allow card holders to compare their savings through its online banking service. The new credit card has an introductory rate of 1.9 per cent for the first 12 months with no handling fees fee on money and balance transfers made within the [...]
Bank of America Mortgage Repurchase Requests Total $11.1B
Bank of America, biggest U.S. lending company by assets, announced that they are facing a very limited number of requests to repurchase soured mortgages out of securities which lacked government-support guarantees. Bank of America, headquartered in Charlotte, North Carolina, claimed that unsettled mortgage repurchase requests form investors and insurers totaled approximately $11B on June 30th [...]
Refinance Mortgage Rate Still at Record Low
Home loan refinancing dropped again this week. As of now, the 30-year fixed mortgage is 4.5344%. Additionally, the refinance mortgage rates have descend only 3 basis points and over the past 4 weeks the rate has dropped by at least 17 basis points. Bank of America maintained their current refinance rates at 4.906%. BofA lowered [...]