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Bank of America

Bank of America Profits Plummet in Third Quarter

Bank of America Profits Plummet in Third Quarter 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 more

No Comment October 15, 2014

‘Hustle’ Penalty of $1.27 Billion Being Fought by Bank of America

‘Hustle’ Penalty of $1.27 Billion Being Fought by Bank of America   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 more

No Comment August 29, 2014

Goldman Sachs to Settle Claims for $1.1 Billion

Goldman Sachs to Settle Claims for $1.1 Billion 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 more

No Comment August 25, 2014

Bank of America Settles Claims with Government for $17 Billion

Bank of America Settles Claims with Government for $17 Billion 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 more

No Comment August 22, 2014

Settlement for $62.5 Million Approved in Wells Fargo Case

Settlement for $62.5 Million Approved in Wells Fargo Case 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 more

No Comment August 20, 2014

Bank of America Reaches Tentative Settlement with Justice Department

Bank of America Reaches Tentative Settlement with Justice Department 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 more

No Comment August 8, 2014

Drop of 43 Percent in Earnings for Bank of America in Second-Quarter

Drop of 43 Percent in Earnings for Bank of America in Second-Quarter 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 more

No Comment July 16, 2014

Warren Buffett Says to Bank of America ‘You Do the Best You Can’

Warren Buffett Says to Bank of America ‘You Do the Best You Can’ 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 more

No Comment May 5, 2014

Bank of America Introduces “SafeBalance” Account; For a Fee

Bank of America Introduces “SafeBalance” Account; For a Fee 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 more

No Comment March 11, 2014

Sunny Tadjudin vs Bank of America

Sunny Tadjudin vs Bank of America 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 more

No Comment January 9, 2014

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Job of the Day
Senior Legal Analyst
USA-VA-Richmond

Altria Group is a FORTUNE 200 company that owns the premier tobacco companies in the United States including Philip Morris USA, U.S. Smokeless Tobacco Company, John Middleton and Nu Mark. The companie...