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Bank of America

Banks Have a Mere $65 Billion in Outstanding Legal Costs

Banks Have a Mere $65 Billion in Outstanding Legal Costs Summary: Although many banks have already paid significant sums for their roles in the 2008 financial crisis, many still face billions more in fees and fines. It looks as though the legal battles are finally coming to an end for…>read more

No Comment August 26, 2015

Deutsche Bank Changing General Counsel

Deutsche Bank Changing General Counsel Summary: Deutsche Bank, in the midst of their largest legal bills, will have two new general counsels by the beginning of next year. Add Deutsche Bank to the list of banks with a change in general counsel. Richard Walker has…>read more

No Comment August 11, 2015

Bank of America Seeing Strong Profit Numbers

Bank of America Seeing Strong Profit Numbers Summary: The Bank of America is recovering strongly after the $13 billion settlement last year with state and federal regulators. After making their payments to shareholders, Bank of America earned $4.99 billion, up from $2.04 billion just a year ago.…>read more

No Comment July 15, 2015

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

Bank of America Asks Judge to Throw Out Jury Verdict in Fraud Case

Bank of America Asks Judge to Throw Out Jury Verdict in Fraud Case   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 Pay $1.1 Billion to Settle Claims with Federal Housing Finance Agency

Goldman Sachs to Pay $1.1 Billion to Settle Claims with Federal Housing Finance Agency 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 to Pay $17 Billion for Its Role in Housing Bubble Burst

Bank of America to Pay $17 Billion for Its Role in Housing Bubble Burst 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

$62.5 Million Settlement Approved in Case Against Wells Fargo

$62.5 Million Settlement Approved in Case Against Wells Fargo 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

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

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

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