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To Bank of America, the answer is about $1.6 billion in net income just last year. Looking at the trading desks Global Markets thrives on trading revenue. Last year, trading account profits made up the largest slice of the company's revenue net of
Bank of America Corp ( BAC ) may pay the Department of Justice more than $12 billion to settle civil inquiries related to the bank's handling of sub-prime mortgages, which is widely held to have contributed to the 2008 financial crisis.
The massive payout, combined with the $6 billion the bank already agreed to pay the Federal Housing Finance Agency for its handling of toxic mortgages, would exceed the record $13 billion that JPMorgan Chase paid last year to resolve similar charges.
Competition from a well-managed $2-billion business bank would be "an earth-shattering event in Southern California banking," said David R. Misch, Community Bank's chief executive. "It really raises the bar." California United, based in Encino, and
Bailey said they offered him a modified loan, but one that he still couldn't afford. That's when, he said, he was promised a special bonus he'd never actually have to make payments, and the bank would never foreclose as long as he kept his mouth shut.
Bank of America Corp could pay more than $12 billion to settle probes by the Justice Department and a number of states into the bank's alleged handling of shoddy mortgages, the Wall Street Journal said on Thursday, citing people familiar with the
Deutsche Bank on Thursday warned it faced sizeable potential fines stemming from a broad range of investigations that may make it hard for the bank to comply with regulatory capital minimum requirements. The bank said in a prospectus published on
gobbled up Massachusetts-based FleetBoston Financial in 2004, it inherited a history of service to the state's low-income borrowers. Now, 10 years after attaining the Northeastern presence it so desired, B of A has decided to quit the SoftSecond
The bank that everyone loves to hate is on the mend, and part of its investment banking arm, through its Global Banking unit, is performing spectacularly. What Global Banking does best Global Banking is best described as a commercial and corporate
Company Ditches This Mortgage Practice Is Bank of America Corp Next? Last month, yet another nasty mortgage-related business practice came to light. BAC ) and PNC Financial have been inserting language in mortgage modification contracts with