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Bank of America Corp

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  • Mortgage deal monitor: Ocwen review may be flawed Tuesday, 16 Dec 2014 | 12:18 PM ET

    WASHINGTON— The monitor overseeing a national mortgage settlement said Tuesday that Ocwen Financial Corp., one of the biggest U.S. servicers of home loans, has produced unreliable information about its business practices. Joseph Smith, who is monitoring banks' and mortgage servicers' compliance with the $25 billion settlement over foreclosure abuses, said...

  • Dec 16- The Financial Industry Regulatory Authority, Wall Street's industry-funded regulator, fined Bank of America Corp's Merrill Lynch unit $1.9 million for unfair pricing related to the purchase of distressed securities over two years. Merrill Lynch's global banking and markets credit trading desk had bought senior notes of Motors Liquidation Co,...

  • Early Glance: Banks companies Tuesday, 16 Dec 2014 | 10:20 AM ET

    Bank of America Corp. fell$. 07 or. 4 percent, to $16.78. Citigroup Inc. fell$. 71 or 1.3 percent, to $52.08. Goldman Sachs fell $1.73 or. 9 percent, to $183.81.

  • WASHINGTON, Dec 16- Ocwen Financial Corp's mortgage servicing operations were criticized on Tuesday by a watchdog who questioned the independence of an internal audit group, adding to previous concerns from regulators. Ocwen is subject to the watchdog's oversight because it had acquired mortgage servicing rights from a unit of Ally Financial Inc. That...

  • Indonesia’s rupiah hits weakest since 1998 Monday, 15 Dec 2014 | 2:27 AM ET

    Indonesia's currency tumbled to its lowest levels since the Asian Financial Crisis in the late 1990s, despite a lack of crisis-like signals.

  • America's real hunger game: 50 million in crisis Friday, 12 Dec 2014 | 10:45 AM ET

    Nearly 1 in 6 Americans go hungry. Most at risk: children and the elderly. Companies are rushing to help during the holidays.

  • BofA to pay family $1M over robocalls Thursday, 11 Dec 2014 | 6:14 PM ET
    A Bank of America branch in New York City.

    Bank of America will need to pay more than $1 million to a Florida couple for constant robocalls despite requests to stop, Consumerist said.

  • New York investigates banks’ forex systems Thursday, 11 Dec 2014 | 10:33 AM ET

    New York regulator investigating whether Barclays and Deutsche Bank used algorithms to fix foreign exchange, the Financial Times reports.

  • Maybe not a merry Christmas for Goldman Sachs Thursday, 11 Dec 2014 | 8:09 AM ET
    A Goldman Sachs sign hangs on the floor of the New York Stock Exchange.

    Goldman Sachs had the worst negative return out of the major investment banks when high yield bonds cracked. Will history repeat itself?

  • It spent $5.7 billion for the rights to some injectable wrinkle treatments of Valeant Pharmaceuticals and for L'Oreal's share of a dermatology joint venture the two operated. Nestle is also spending about $350 million on dermatology research and development this year, said Humberto Antunes, chief executive of Nestle Skin Care. The first of the new research...

  • Cramer: Why the market decline made sense Tuesday, 9 Dec 2014 | 6:11 PM ET
    Wide receiver Josh Huff #11 of the Philadelphia Eagles fumbles the football forced by defensive end Frostee Rucker #98 of the Arizona Cardinals in the second quarter during the NFL game at the University of Phoenix Stadium on October 26, 2014 in Glendale, Arizona.

    Jim Cramer thinks that the market decline that occurred on Tuesday actually made a lot of sense. What the heck? Here's why.

  • Fed passes capital surcharges for major banks Tuesday, 9 Dec 2014 | 4:26 PM ET
    Federal Reserve Chair Janet Yellen

    These surcharges would be for the eight top-tier banks with $50 billion or more in consolidated assets.

  • Wall Street banks making huge bet on this Tuesday, 9 Dec 2014 | 11:19 AM ET

    Some of Wall Street's biggest players are ready to write billion-dollar checks to finance a nearly $16 billion Gulf Coast natural-gas project.

  • Dec 9- Bank of America Corp and Citigroup Inc expect weaker trading revenue in the fourth quarter, according to presentations they made at an investor conference in New York. Citigroup's market revenue will fall about 5 percent, Chief Executive Mike Corbat said at the conference. Bank of America's shares were down 1.9 percent at $17.32 in late morning trading on...

  • Dec 9- Bank of America Corp and Citigroup Inc said they expected weaker trading revenue in the fourth quarter. BofA's sales and trading revenue are expected to fall from both the third quarter and a year earlier, the bank said in a presentation at an investor conference in New York on Tuesday. Citigroup's market revenue will fall about 5 percent, Chief Executive...

  • Banks charging businesses fees a 'bad idea': Pro Monday, 8 Dec 2014 | 4:36 PM ET
    The headquarters of JP Morgan Chase on Park Avenue in New York.

    New bank fees for some business deposits are a really bad idea, Kroll Bond Rating Agency's Chris Whalen said.

  • Banks don't want these clients' cash: Report Monday, 8 Dec 2014 | 10:34 AM ET
    File photo: A woman leaves JP Morgan Chase & Company headquarters in New York, August 14, 2013

    New government rules make extra cash a burden for banks, which have urged major clients to take their deposits elsewhere or face fees, the WSJ said.

  • Boutrous represented the world's largest retailer, Wal-Mart, in one of the most anticipated business cases in years. Gibson Dunn is not the only law firm to turn Supreme Court appearances into gold. After the firm Sidley Austin won a Supreme Court patent case for eBay, it earned at least $10 million in unrelated legal fees from the online retailer, say people with...

  • WASHINGTON, Dec 8- About 30 seconds into an appearance before the U.S. Supreme Court this fall, lawyer Paul Clement was interrupted by a question. It came from Justice Elena Kagan, and it cut to the heart of his case. The exchange illustrates the familiarity that distinguishes a handful of lawyers from more than a thousand other attorneys who have appeared before...

  • *Nov jobs report comes in well ahead of expectations. NEW YORK, Dec 5- The Dow and S&P 500 closed a seventh straight weekly advance on Friday as a better-than-expected jobs report indicated strong economic growth, but perhaps to the point where interest rates could rise sooner than previously anticipated. Ronald Sanchez, chief investment officer of Fiduciary...