Bank of America’s third quarter profits fell 19 percent from a year ago as the bank wrote down the value of its long-time joint venture payment processor First Data. Excluding that non-cash charge the bank topped expectations, though it’s being ...

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Bank of America’s third quarter profits fell 19 percent from a year ago as the bank wrote down the value of its long-time joint venture payment processor First Data. Excluding that non-cash charge the bank topped expectations, though it’s being ...

Tagged with: 3Q Bank of America BOA profits

A $73 million settlement over allegedly unpaid overtime and off-the-clock work will yield “relatively modest” recoveries for Bank of America tellers, personal bankers and call center employees, the judge overseeing the case said.

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Bank of America Corp. should face U.S. Securities and Exchange Commission claims over $855 million in mortgage-backed securities, said a judge who last week advised that a Justice Department complaint over the same securities should be thrown out.

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Bank of America Corp.’s $8.5 billion settlement with mortgage-bond investors will be delayed almost two weeks after American International Group Inc. and other objectors asked a judge for a hearing to address loan modifications excluded from the accord.

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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.

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American Express Co. has agreed to pay $75.7 million to settle claims from U.S. financial regulators that it used deceptive marketing practices to sell protection services to credit-card customers.

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Bank of America Corp.’s $8.5 billion settlement with mortgage-bond holders “looked minuscule” to sophisticated investors, a lawyer for opponents of the agreement told a Manhattan judge.

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Bank of America Corp. can’t be sued by unified groups of homeowners in different states over its failure to modify mortgages.

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U.S. District Judge Jed Rakoff in Manhattan issued a ruling Tuesday rejecting the bank’s request to dismiss the case, putting it on track for a trial scheduled to begin Sept. 23.

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Treasuries erased a decline after a measure of factory employment dropped last month to the lowest in almost four years, even as manufacturing rebounded.

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