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Bank of America
Stories 1 - 20 |
Big Banks Warn
Nov 4, 2023 7:00 AM CDT
Big Banks Warn Customers of Deposit Delays
'Manual error' said to cause 'processing issue' at Chase, Bank of America, Wells Fargo, others
- Deposits at major banks across the nation were delayed Friday, due to what the Federal Reserve is calling a "processing issue" caused by human error. CNN Business reports that customers at Bank of America, Chase, Wells Fargo, US Bank, and Truist started complaining about the problem Friday morning, with...
Growing Number of Americans
Tapping Into 401(k) Plans
Aug 13, 2023 12:45 PM CDT
Growing Number of Americans Tapping Into 401(k) Plans
According to data from Bank of America
- There's been an uptick in the number of Americans turning to their 401(k) plans to help with financial woes, according to data released by Bank of America. CNN reports the banking giant saw a 36% increase in "hardship" withdrawals in Q2 as compared to the same period a...
Feds Order Bank of America
to Pay $250M in New Scandal
Jul 11, 2023 9:18 AM CDT
Feds Order Bank of America to Pay $250M in New Scandal
CFPB says bank charged junk fees, withheld bonuses, opened fake accounts
- Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses, and opening accounts without customer consent, reports the AP . Bank of America will pay $90 million in penalties to its organization and $60 million in penalties to the Office of...
Police: Bank Robbery Suspects
Caught While Switching Cars
Oct 17, 2021 3:45 PM CDT
Police: Bank Robbery Suspects Caught While Switching Cars
Accused robbers with clever getaway scheme crashed, were caught
- It must have seemed like a good idea at the time. Three men police say are suspects in a bank robbery in Charlotte, North Carolina, stopped to switch to a different getaway car. Their planning fell through, however, and the police saw the switch take place, the
Morgan Stanley to
Bar the Unvaccinated
Jun 23, 2021 7:22 AM CDT
Morgan Stanley to Bar the Unvaccinated
Only fully vaccinated people will be allowed inside New York offices starting July 12
- Investment bank Morgan Stanley plans to lift mask and physical distancing requirements in its offices next month, but only after banning unvaccinated workers, clients, and visitors. The company told its workforce on Tuesday that employees and clients who are not fully vaccinated against COVID-19 will be unable to return to...
Bank CEO Says Trump
Should Focus on Virus Fight
Apr 15, 2020 4:00 PM CDT
Bank CEO Says Trump Should Focus on Virus Fight
Brian Moynihan doesn't want to bring workers back until conditions are stable
- As a CEO on President Trump's new advisory committee on reopening the economy, Bank of America chief Brian Moynihan might have been expected to push for looser restrictions as soon as possible. Instead, on a call with investors Wednesday, Moynihan urged caution, advising the administration to focus on fighting...
Mar 28, 2020 3:30 PM CDT
BofA Slammed Over 'Misleading' Mortgage Relief
As the entire mortgage system faces potential collapse
- Many homeowners are getting a break on mortgage payments these days, but the devil can be in the details. Connecticut resident Rosanne Stoddard tells CNBC she got quite a shock when she called Bank of America about her $2,200 monthly payments. They granted her a three-month pandemic waiver, she...
ATM Spits Out $100 Bills by
Mistake, Bank Says 'Keep It'
Nov 27, 2018 8:57 AM CST
ATM Spits Out $100 Bills by Mistake, Bank Says 'Keep It'
It happened at a machine in Houston
- Banks aren't usually known for giving out free money, but Bank of America is begrudgingly making an exception after one of its Houston ATMs went haywire over the weekend, spitting out $100 bills instead of smaller denominations, per KTRK . A man discovered the glitch while withdrawing money Sunday night,...
Bank of America Move
Angers Low-Income Customers
Jan 23, 2018 1:52 PM CST
Bank of America Move Angers Low-Income Customers
Company phases out checking accounts that were free without minimum balance
- Bank of America is taking serious flak over a decision to end a checking account that was popular with low-income customers because they could use it for free. Specifically, the bank phased out its eBanking program and switched all those customers to an account that charges a $12 monthly fee,...
Sponsors Flee as
NYC Theater Portrays
Trump as Slain Caesar
Jun 12, 2017 6:36 AM CDT
Sponsors Flee as NYC Theater Portrays Trump as Slain Caesar
Delta, Bank of America yank sponsorship of NYC's Public Theater
- Beware the ides of March ... or the withdrawal of six-figure sponsorships. Delta Air Lines and Bank of America on Sunday night pulled their sponsorship of New York’s Public Theater over its production of
The issue: In this reimagining, it's a President Trump lookalike (Gregg Henry) who...
There's a Story of
Fraud Behind This
Bank of America Tattoo
Nov 2, 2016 8:19 AM CDT
There's a Story of Fraud Behind This Bank of America Tattoo
Gabriel Patterson pleads guilty to bank fraud
- You'd think a man wouldn't soon forget all those times he stole from a bank, but Gabriel Patterson apparently wanted to remember his fraud forever—hence the tattoo of the Bank of America logo on the inside of his left elbow. Now he'll also have the memory...
$65K Raised for
Pearl Harbor Vet
of Life Savings
Jun 23, 2016 2:47 PM CDT
$65K Raised for Pearl Harbor Vet Scammed Out of Life Savings
Jack Holder says he has 1,000 thank you notes to write
- Publishers Clearing House couldn't help Jack Holder. Bank of America said it couldn't help him, either. But nearly 1,000 regular people could, and did, donating more than $65,000 to a GoFundMe account after the 94-year-old Pearl Harbor survivor was scammed out of nearly all of his...
5 Big Banks Get Failing
Grades on 'Living Wills'
Apr 13, 2016 9:51 AM CDT
5 Big Banks Get Failing Grades on 'Living Wills'
They need to retool emergency plans quickly
- Federal regulators say five of the biggest banks in the US haven't worked out strong plans for how they might reshape themselves in case of failure, which could leave them unable to survive without another taxpayer bailout, reports the AP . JPMorgan Chase, Bank of America, Wells Fargo, Bank of...
Why 2 Protesters
Nov 3, 2015 6:41 AM CST
Why 2 Protesters Disrupted Monday Night Football
They were protesting a proposed natural gas plant
- Monday night's football game between the Colts and the Panthers included a surprise appearance from two protesters who rappelled from the upper deck of Bank of America Stadium in Charlotte, NC, and unfurled a banner about, yes, Bank of America. More specifically, the banner urged the bank to "...
Goldman Sachs to Interns:
Take It Easy, Go Home at 12am
Jun 18, 2015 3:51 PM CDT
Goldman Sachs to Interns: Take It Easy, Go Home at 12am
And don't come back before 7am, Goldman Sachs says in new work-hours policy
- When Moritz Erhardt, a 21-year-old Bank of America intern in London, died two years ago after reportedly putting in 72 hours straight at work, the banking industry turned the spotlight on its notoriously rough hours. Bank of America, for instance, suggested its junior workers take at least four weekend days...
Biggest Banks Can Handle 'Severe' Recession: Fed
Mar 6, 2015 11:11 AM CST
Biggest Banks Can Handle 'Severe' Recession: Fed
Reserve's 'stress tests' show 31 banks stronger than ever since 2008 crisis
- All of the nation's 31 largest banks are adequately fortified to withstand a severe US and global recession and keep lending, the Federal Reserve said yesterday. Results of the Fed's annual "stress tests" show that as a group, the 31 banks are stronger than at any time...
Couple Wins $1M for
Dec 12, 2014 10:44 AM CST
Couple Wins $1M for 'Unrelenting' BofA Robocalls
Nelson and Joyce Coniglio say they got 700 calls over 4-year period
- Nelson and Joyce Coniglio begged Bank of America to stop calling them about late loan payments, but the calls kept on coming: 700 of them over a four-year period, the Florida couple claims in a lawsuit that describes a huge mortgage-induced headache, ABC News reports. The bank was ordered by...
Banker's Trades Were Being Probed
Nov 4, 2014 1:37 AM CST
Banker's Trades Were Being Probed
Ex-girlfriend says Jutting tried to kill himself
- Was Rurik Jutting a white-collar criminal before he was accused of two grisly murders in Hong Kong? The British investment banker was part of a Bank of America Merrill Lynch unit involved in "tax-minimization" trades that were being investigated by prosecutors, regulators, and the bank itself, sources tell the...
Feds, BofA Strike
Aug 21, 2014 8:40 AM CDT
Feds, BofA Strike $17B Settlement
Justice announces largest deal it's ever reached
- The Justice Department has announced a $16.65 billion settlement with Bank of America over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. The deal announced today calls for the bank, the second-largest in the US, to pay a $5 billion cash...
BofA, Feds Near
in US History
Aug 7, 2014 7:57 AM CDT
BofA, Feds Near Biggest Settlement in US History
Justice Dept. deal would cost bank $16B-$17B for foreclosure mess
- Bank of America is headed toward the biggest settlement to arise from the 2008 financial crash, a deal with the Justice Department reportedly worth $16 billion to $17 billion over its role in the sale of mortgage-backed securities, a source directly familiar with the matter tells the AP . The tentative...
Stories 1 - 20 |
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