Advertisement
HomeCollectionsBank Of America
IN THE NEWS

Bank Of America

FEATURED ARTICLES
BUSINESS
By JANE BRYANT QUINN | November 21, 1994
NEW YORK -- Investors and bankers should keep an eye on the radical experiment under way at the Bank of America, headquartered in San Francisco. It is changing the way it pays the staff that sells mutual funds, tax-deferred annuities, bonds and other securities. If it's successful, competitors would be wise to copy.The bank's objectives are two: (1) to motivate its sales representatives to pay more attention to what the customer really needs; (2) to establish strict quality controls, so a rogue broker can't do a customer wrong.
ARTICLES BY DATE
BUSINESS
Lorraine Mirabella | April 1, 2014
Your Bank of America credit card will get you free admission this weekend to the  American Visionary Art Museum. It's part of the bank's Museums on Us program, which offers free weekend access to a range of museums on the first full weekend of each month this year. Both Bank of America and Merrill Lynch credit and debit cardholders can get in free at the downtown museum on Key Highway on Saturday and Sunday. The program now has a mobile site that gives a full list of all 150 museums in the program.
Advertisement
BUSINESS
By BLOOMBERG NEWS | December 31, 2004
SAN FRANCISCO - Bank of America Corp., the third-largest U.S. bank, must pay $284 million to customers who were charged overdraft fees on accounts containing customer Social Security deposits, a California judge ruled yesterday. The decision also orders the bank to give each affected customer $1,000. Up to 1.3 million customers may qualify, which could eventually increase the award to $1.6 billion, plaintiffs' lawyer Mark Johnson said. Bank of America said it intends to appeal the decision, in which Judge Anne Bouliane confirmed a tentative Dec. 8 ruling.
BUSINESS
By Natalie Sherman, The Baltimore Sun | November 15, 2013
A vacant Baltimore home owned by Bank of America receives better upkeep if it is located in a largely white neighborhood, a discriminatory practice that hurts minority areas, the National Fair Housing Alliance alleged in a complaint filed Thursday. The complaint argues that there are "stark racial disparities" in Bank of America marketing or maintenance practices in 20 metropolitan areas, a violation of the Fair Housing Act. Baltimore was one of five cities added Thursday to the complaint, first filed with the Department of Housing and Urban Development in 2012.
BUSINESS
By New York Times News Service | January 11, 2008
Countrywide Financial, the troubled lender that became a symbol of the excesses that led to the subprime mortgage crisis, is negotiating a sale to Bank of America, according to people briefed on the matter, a move that would rescue it from an increasingly uncertain future. As the nation's largest mortgage lender, Countrywide helped fuel the housing boom by offering loans to high-risk borrowers. But as home prices began dropping last year and borrower defaults soared, Countrywide's lending practices came under the spotlight of legislators, regulators and consumer advocates.
NEWS
BY A SUN STAFF WRITER | June 5, 2001
A masked gunman held up a Severna Park bank yesterday, fleeing in a stolen car with an undisclosed amount of money, authorities said. FBI agents were investigating the 9 a.m. holdup at the Bank of America in the 400 block of Jumpers Hole Road. Police said a man, armed with a silver-colored handgun, fled in a white Nissan found abandoned a short time later on the rear parking lot of the nearby Benfield Village Shopping Center. Police said it had been reported stolen in Prince George's County.
BUSINESS
By BLOOMBERG NEWS | October 19, 1999
CHARLOTTE, N.C. -- Bank of America Corp., the nation's biggest bank, said yesterday that its third-quarter earnings more than doubled on higher fees and lower expenses arising from last year's merger between NationsBank Corp. and BankAmerica Corp.Net income rose to $2.15 billion, or $1.23 a share, from a profit before charges of $893 million, or 50 cents, a year ago. The year-earlier earnings excluded a $725 million pretax merger charge. BankAmerica and NationsBank merged last October."The results were better than anticipated on the fee-income category," said Edward Najarian, a bank analyst at Wheat First Union, who has an "outperform" rating and a 52-week target price of $71 on the shares.
BUSINESS
By BLOOMBERG NEWS | August 24, 1999
CHARLOTTE, N.C. -- Bank of America Corp., the biggest U.S. bank, said yesterday that it is combining money management units catering to wealthy people, institutions, and mutual fund investors into one group "to more effectively serve client needs and build our business."Michael Kenneally, now president of Bank of America Investment Management in St. Louis, is to oversee the money management functions for the new group.Holly Deem, the president of TradeStreet Investment Associates Inc. in Charlotte, is to head operations, and Robert Gordon, president of NationsBanc Advisors Inc. in Charlotte, is to direct marketing and product development.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,SUN STAFF | December 11, 2003
The Council on American-Islamic Relations pledged yesterday to call for an international boycott of Bank of America if the company doesn't meet with representatives about claims of religious discrimination at a Rockville branch. Standing across the street from the branch bank, leaders of the council's Maryland office said they've been trying to talk to company officials for months and will give them two more weeks to set up a meeting. "They've opened a Pandora's box," said S. Rizwan Mowlana, executive director of the council's state office.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | August 20, 1996
San Francisco's Bank of America has entered Baltimore with an aggressive push to generate small business loans.Top executives of the bank said yesterday that they have begun offering business operators, who receive guarantees from the Small Business Administration, loans at the prime rate for one year, along with 100 percent financing and discounts on fees."
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 23, 2013
Bank of America said it is changing the type of work its Hunt Valley employees do given the decline in refinancings as interests rates have risen. Employees were told Wednesday that they would switch from home loan fulfillment to credit cards and other consumer deposit products, said spokeswoman Jumana Bauwens. The Hunt Valley site employs 600 workers, with 500 of them affected by the reassignment of work.
BUSINESS
By Steve Kilar and The Baltimore Sun | December 12, 2012
The local branch of Habitat for Humanity has already received several properties as part of a nationwide commitment by Bank of America to donate 2,000 vacant homes to the affordable housing organization. “These donations can make a dramatic difference for so many Habitat affiliates, increasing their suitable property inventory,” said Jonathan Reckford, CEO of Habitat for Humanity International, in a statement this week. Habitat's outposts across the U.S. are receiving the homes from Bank of America on a case-by-case basis, as they become available.
BUSINESS
By Steve Kilar and The Baltimore Sun | October 24, 2012
Rep. Elijah Cummings, ranking member of the U.S. House Committee on Oversight and Government Reform, praised the U.S. Department of Justice's decision Wednesday to sue Bank of America over alleged reckless mortgage lending practices. The government claims that loose mortgage lending standards by Countrywide Financial, which Bank of America bought in 2008, ended up costing taxpayers at least $1 billion. "I welcome this announcement and strongly commend the Obama Administration, the Department of Justice, and the Inspectors General for their diligence in seeking accountability and justice on behalf of the American taxpayers and homeowners," Cummings said in a statement.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | September 19, 2012
Bank of America said Wednesday that an executive with 31 years at the company will step up as president of the institution's Baltimore and Maryland markets. David Millman's past positions at Bank of America include leadership roles in consumer banking and global commercial banking. He's replacing William Couper, the company's mid-Atlantic president, who plans to retire at the end of September after 40 years with Bank of America. Millman, born in Baltimore, lives in Owings Mills with wife Holly.
BUSINESS
Gus G. Sentementes | September 18, 2012
A bunch of new patent applications from Bank of America reveal that the company's R&D lab has been working on new mobile technologies that would enable smartphone users to analyze their environment with their smartphone's video camera ; recognize the objects around them, including those with embedded sensors; and generate automatic budgeting and wish lists . The North Carolina banking powerhouse is known within the banking industry for...
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 20, 2012
Bank of America warned state regulators Friday that it expects to lay off 55 employees in Baltimore County. The company said the cuts at its McCormick Road location in Hunt Valley, where employees process customer transactions, would run from Nov. 30 through Jan. 31. Workers could be eligible for severance pay and assistance finding a new job, the bank said. "We continually evaluate our operations and look for ways to better deliver for our customer/clients," Nicole Nastacie, a Bank of America spokeswoman, said by email.
BUSINESS
By Charlotte Observer | April 24, 2007
CHARLOTTE, N.C. -- Bank of America Corp.'s $21 billion gamble on Chicago received a tepid reception yesterday from some analysts and investors worried about the bank's continued appetite for big deals. The Charlotte, N.C., bank confirmed an agreement to buy Chicago's LaSalle Bank from Dutch parent ABN Amro Holding, which is being acquired itself by Britain's Barclays PLC for $91 billion. The takeover would give Bank of America the top spot in the nation's third-biggest city and would also make it the largest player in struggling Detroit.
BUSINESS
By Andrew Leckey | May 2, 2004
Bank of America once was based in San Francisco with the name Bank of Italy because founder Amadeo Peter Giannini catered to small farmers of Italian descent. After the city's 1906 earthquake, the dynamic and courageous Giannini helped finance its rebuilding. To suit his larger vision, he renamed his institution Bank of America. Now the bank with that name, based in Charlotte, N.C., and the product of numerous mergers, is writing off more than $100 million in loans to a dairy company based in Italy.
BUSINESS
Jamie Smith Hopkins | June 22, 2012
If you're a local Bank of America borrower behind on your home mortgage, chances are you've received an invitation to come chat in Baltimore. The company is holding a foreclosure-prevention event next Thursday through Saturday -- June 28 through June 30 -- at the Baltimore Hilton for customers whose loans it services. It's one in a series of face-to-face events that Bank of America and other mortgage servicers have put on. In other cases, they've participated in events organized by groups or political leaders . The appeal of in-person?
BUSINESS
February 9, 2012
Not as big news as the national mortgage settlement worth nearly $1 billion to Maryland. But the Federal Trade Commission announced today that a subsidiary of Bank of America agreed to settle charges that it illegally overcharged struggling homeowners by more than $36 million. BAC Home Loans Servicing has already returned $28 million to consumers. In the new settlement, it will return another $8 million. BAC Home Loans is the successor to Countrywide, one of the nation's largest mortgage servicer that was acquired in 2008 by Bank of America.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.