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Bank of America
Summary: After settling a multibillion-dollar lawsuit with state and federal agencies, Bank of America’s profits declined due to lingering effects of the weakened economy. According to the New York Times, Bank of America reported that its profits dropped significantly during…>read moreNo Comment October 15, 2014
Summary: Bank of America has asked a judge to throw out the jury verdict against it that resulted in a penalty of $1.27 billion in relation to bad mortgages. On Thursday, Bank of America Corp asked a federal judge to…>read moreNo Comment August 29, 2014
Summary: Goldman Sachs will join Bank of America and other financial institutions that have recently settled claims of fraudulent conduct by paying $1.1 billion to the Federal Housing Finance Agency as early as next week. Reuters reports that Goldman Sachs…>read moreNo Comment August 25, 2014
The largest settlement to emerge from the financial crisis of 2008 has been approved, according to the Huffington Post. The Justice Department reported the $17 billion settlement was reached between Bank of America through its Deputy General Counsel Jana J.…>read moreNo Comment August 22, 2014
Summary: Wells Fargo settles securities lending case for $62.5 million. In the latest update from Jurist, the U.S. District Court for the District of Minnesota approved a settlement for $62.5 million on Monday in a case filed against Wells Fargo.…>read moreNo Comment August 20, 2014
Bank of America is closing in on a settlement that would total $16 or $17 billion and would resolve the investigation into its role of selling mortgage-backed securities prior to the 2008 financial crisis, according to The Associated Press. The…>read moreNo Comment August 8, 2014
The profit for Bank of America dropped by 43 percent in the second-quarter, mostly because of a large legal expense that overshadowed other positive results for the bank, according to The New York Times. The bank had profits of $2.3…>read moreNo Comment July 16, 2014
Warren Buffett invested $5 billion in Bank of America Corp., and said that according to Bloomberg News, he is confident the lender will overcome an accounting mistake that forced the firm to suspend an increased payout to its shareholders. “That…>read moreNo Comment May 5, 2014
Bank of America announced a new account for customers called the “SafeBalance” account. The account costs customers $4.95 per month and does not issue any checks, according to the Huffington Post. The main feature of this new account is the…>read moreNo Comment March 11, 2014
In the United Kingdom, there appears to be an emerging trend of recognizing the implied anti-avoidance term in employment contracts. An anti-avoidance term is defined by Cabrelli in “Discretion, Power and the Rationalization of Implied Terms” as a term that…>read moreNo Comment January 9, 2014
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PROGRAM/ DEPARTMENT SUMMARY: The Legal Department provides general legal services, forward thinking problem solving, and advice and counsel to internal clients, including Mercy Corps\'...