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Bofa News

Warren Buffett becomes top shareholder in Bank of America

New York - American billionaire Warren Buffett's Berkshire Hathaway group has officially become the top shareholder in Bank of America after exercising its right to buy 700 million shares at a discount.

Bank of America to pay for illegal credit-card actions

Washington - Bank of America will pay $772 million over illegal credit-card practices that lured consumers into signing up for added products and services, US regulators said Wednesday.

Bank of America shuts down in Costa Rica, lays off 1,400

San Jos - Bank of America announced Tuesday it was shutting down its operations in Costa Rica, where it employed 1,400 people in a technological unit.

Stock funds worldwide attract $7.5 billion inflows: Bofa

Investors worldwide poured $7.5 billion into stock funds in the week ended March 5 on reassuring signs the U.S.

'Senior Bank of America forex trader suspended'

New York - Bank of America suspended a senior foreign exchange trader in the latest ripple from a global probe of foreign exchange market manipulation, a person familiar with the matter said Thursday.BofA suspended London-based Joseph Landes, who oversees spot tr...

Bank of America sees higher litigation costs

New York - Bank of America Tuesday raised its estimate of potential payouts to settle litigation and disclosed it has been queried by regulators over its foreign exchange trading practices.In its annual securities filing for 2013 the US banking giant raised its e...

Investors shun emerging markets, especially South Africa: BofA poll

Investors grew even more pessimistic about the developing world in February, with a majority saying the biggest threat to the stability of global financial markets was turmoil in emerging markets, a surve...

Stock funds worldwide attract $11.5 billion after record outflow: BofA

Fund investors worldwide committed $11.5 billion to stock funds in the week ended Wednesday on reassurance from Federal Reserve chair Janet Yellen that the U.S.

US judge approves $8.5 bn Bank of America settlement

Washington - A US judge has approved an $8.5 billion settlement between Bank of America and a group of investors for losses on dodgy mortgage-backed securities whose collapse triggered the 2008 financial crisis.

Army reservist battles with Bank of America over debit charges

Utica - A U.S. Army reservist is struggling with the Bank of America over fraudulent charges he says were made to his bank account after he used his debit card. The amount in question is over $25,000.

Bank of America tests 'Mortgage to Lease' plan for foreclosures

Bank of America has announced it is in the midst of unrolling a new program called "Mortgage to Lease." This plan is to be offered to selected mortgage customers facing foreclosure.

Bank of America cooks up new monthly fees

If at first you don't succeed, try, try again. That seems to be the Bank of America's new approach when it comes to cooking up ways to tack on fees for its customers.

Bank of America scraps $5 monthly debit card fee

Bank of America finally decided to retract their recently imposed $5 monthly debit card fee on customers. Competitors Wells Fargo, SunTrust and Chase had already scrapped their (lower) proposed fees, and now BofA is following suit.

Op-Ed: Bank of America to tack on $5 monthly fee to debit card users

Over the past several months a lot of upheaval has been going on in the banking industry, and one of the notable causes is due to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Bank of America drops $4.4 billion on Wall Street

Bank of America has reportedly used 19% of their 2009 generated revenues to pay workers' salaries, benefits and year-end bonuses.

Moynihan to Take over as Bank of America CEO

Brian Moynihan was announced this week as Ken Lewis' successor at Bank of America. Lewis will be retiring at the end of this month.

Bank of America has honest person arrested - customers remove over $50 million dollars in protest

An honest man received a suspicious check in payment for a sale he made on Craigslist. He went to the bank to have it checked out. The bank had _him_ arrested. Now, over $50 million of deposits have been removed from Bank of America in protest.
 

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