Legal costs thwart big bank’s record 2013 profit

January 13, 2014 Comments Off on Legal costs thwart big bank’s record 2013 profit

Combined profit at the six largest U.S. banks jumped last year to the highest level since 2006, even as the firms allocated more than $18 billion to deal with claims they broke laws or cheated investors.

Tagged with: Bank of America Fannie Mae Freddie Mac JPMorgan Chase & Co.

Bank of America warns of more legal disputes ahead as potential costs surge

October 31, 2013 Comments Off on Bank of America warns of more legal disputes ahead as potential costs surge

Bank of America Corp. raised its estimate of possible added losses from legal and regulatory matters by 82 percent to $5.1 billion.

Bank of America told to pay $2.2M in race bias case spanning decades

September 25, 2013 Comments Off on Bank of America told to pay $2.2M in race bias case spanning decades

Bank of America Corp. was ordered to pay $2.2 million to black job applicants who were unfairly rejected for teller and clerical positions in a case spanning almost two decades.

Tagged with: Bank of America Corp. racial discrimination