(Click on the image for larger size.) “Bank of America, J.P. Morgan and Wells Fargo now have 33% of all U.S. deposits, up from 21% in mid-2007-the fastest shift of such a large chunk of deposits in U.S. history. The … Continue reading
Excerpt: “Attorney General Eric Holder announced one of the biggest fair-lending settlements in U.S. history with Bank of America (BAC: 5.60 +2.38%) agreeing to pay $335 million to settle complaints levied against Countrywide Financial Corp. by the Department of Justice.” … Continue reading
Excerpt: “It’s clear from our investigation that Bank of America used illegal retaliatory tactics against this [Countrywide] employee,” said OSHA Assistant Secretary David Michaels. “This employee showed great courage reporting potential fraud and standing up for the rights of other … Continue reading
Excerpt: “Before the housing bubble burst, many believed the nation’s five biggest banks would control 90 percent of U.S. mortgages, but some experts now believe mid-size lenders will have greater opportunity to enter the market, National Mortgage News reported Aug. … Continue reading
Five months ago Bank of America filed foreclosure papers on the home of a couple, who didn’t owe a dime on their home. They had paid cash for the house. The case went to court and the homeowners were able … Continue reading