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Bank of America

Bank of America lays off 540 in Charlotte division

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Bank of America is laying off 540 workers in a division that handles troubled mortgages. The Charlotte Observer reports that the cuts announced Wednesday amount to nearly two-thirds of the local workforce in the Legacy Asset Servicing division. Full story...
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ONLY ON 3: Neighbor says smell from pool at foreclosed home a nuisance

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videoBonnie Narron is hosting Thanksgiving this year for 15 people. Every year her family has a tradition of playing backyard games. But this year Narron fears that may not be possible because of a foul smell coming from the pool of a foreclosed house next door. Full story...
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Bank of America liable in mortgage fraud

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A New York jury has found Bank of America Corp. liable for mortgage fraud. The verdict was returned Wednesday after a monthlong civil trial in Manhattan. The trial related to mortgages the government said were sold at break-neck speed without regard to quality as the economy headed into a tailspin in late 2007 and 2008. Full story...
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Bank of America told to pay in discrimination case

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An administrative law judge with the U.S. Department of Labor has ordered Bank of America to pay black job applicants more than $2 million in back wages and interest to settle a discrimination case. Full story...
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Dow average drops NC-based Bank of America, adds Goldman Sachs, Nike and Visa

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The Dow Jones industrial average is swapping Bank of America for Goldman Sachs and also replacing Hewlett-Packard and Alcoa in a six-company shake up of the most widely known barometer of the US stock market. Full story...
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US gov't accuses BofA of civil fraud in bond sale

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The U.S. government has accused Bank of America Corp. of civil fraud, saying the company failed to disclose risks and mislead investors in its sale of $850 million of mortgage bonds during 2008. Full story...
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Bank of America to pay $2.43B in settlement

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Bank of America says it will pay $2.43 billion to settle a class-action lawsuit related to its acquisition of Merrill Lynch. Full story...
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DNC Day 2: Delegates, celebrities react to decision to move Obama speech

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video Mixed reaction to news President Obama will accept his party's nomination indoors, rather than at Bank of America Stadium. Full story...
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Five arrested at Bank of America demonstration

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Five people have been arrested as they tried to force their way into the annual shareholders' meeting for Bank of America in Charlotte. Full story...
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Brunswick Co. golf course owner being sued by Bank of America

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The future of numerous developments and tracts of land in Brunswick County, including the four-course Ocean Ridge Plantation and Rivers Edge Golf Club, are in question because of a lawsuit filed by Bank of America against the properties’ owner. Full story...
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States, banks reach foreclosure-abuse settlement

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North Carolina communities will benefit from millions of dollars to help struggling homeowners facing foreclosure, as well as more housing counselors, financial fraud investigators and prosecutors, and stronger mortgage standards. Full story...
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BofA debit fee plan led to 20% jump in closed accounts

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The days of the easy fee grab may be coming to an end. Bank of America's failed plan to impose a $5 monthly debit card fee led to a 20 percent increase in closed accounts in the last three months of 2011 and a public relations headache, which other companies may be keen to avoid. Full story...
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Bank of America settles mortgage suit for $315 million

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Bank of America has agreed to pay $315 million to settle claims by investors that they were misled about mortgage-backed investments sold by its Merrill Lynch unit. Full story...
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Deal gives BofA rights to Charlotte airport ATMs

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A deal to give Bank of America exclusive rights to all automated teller machines at Charlotte-Douglas International Airport is expected to provide the airport with $1.6 million in annual revenue, more than twice what it now makes. Full story...
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Judge OKs $410M settlement in Bank of America overdraft fee case

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A federal judge in Miami has approved a $410 million settlement in a lawsuit claiming Bank of America charged excessive overdraft fees. Full story...
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