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Tag Archives: Bank of America

Bank of America judge rejects SEC settlement

Bank of America Corp.’s $33 million settlement with the U.S. Securities and Exchange Commission over Merrill Lynch & Co. bonuses was rejected by a judge who said the deal appeared to be a “contrivance” and ordered the case to trial ...

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Bank of America told to stop hiding behind lawyers

When landing in white-collar trouble, it might sound like a solid defense to say you only did what the lawyers advised. Unless you waive attorney-client privilege, no one will know what your lawyer told you. That’s what Bank of America ...

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Bank of America shuns card debt, ducks subprime label

Bank of America Corp., saddled with the worst credit-card default rates among its biggest rivals, is shunning the asset-backed securities market it tapped for $13.7 billion last year. JPMorgan Chase & Co., Citigroup Inc. and American Express Co. are among ...

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Obama becomes banker-in-chief in credit market freeze

The U.S. economy has little chance of recovering from what may prove to be its worst recession since World War II unless President Barack Obama shows he can get banks to lend money again. Since the Bush administration and Congress ...

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Treasury demands banks with TARP funds report lending

The U.S. Treasury, under pressure to revive lending, is demanding monthly reports from the banks that received the most capital from the government’s $700 billion rescue program. Neel Kashkari, the official who administers the Troubled Asset Relief Program, wrote to ...

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