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Merrill Brokers Next Target for BofA?

The forced departure of Sallie Krawcheck may be a sign of more than just problems at Bank of America - we may be seeing the start of an internal attack on Merrill Lynch brokers.We all know the contempt...

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Bank of America is Doomed. Just File Bankruptcy Now

While I still have a problem with Henry Blodget still participating in the financial industry, even as a columnist, great article on Bank of America's imminent bankruptch. The full title is BANK OF...

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Bank of America to cut 30,000 jobs over 3 years. But let's talk about stock...

In a Reuters article about plans for $5 billion in cost-cutting at Bank of America over the next three years, this is what we hear about BoA workers: The bank had 5,700 branches nationwide and 287,000...

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Moody Lowers Bank of America's Debt Rating

Not much of a surprise here - Moody's Investors Service has lowered Bank of America Corp.'s debt ratings, saying it is now less likely that the U.S. government would step in and prevent the lender from...

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At Countrywide, protecting mortgage fraud involved firing whistleblowers

The thing about a corporation committing widespread fraud is that it tends to involve a lot of people, some of whom will not be enthusiastic about committing fraud and may even try to stop it. Michael...

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Line of the Day

Over at Above The Law, they are debating the question of whether insider traders should go to jail. One reason for sending people to jail is deterence. Matt Levine, the editor of DealBreaker, argues...

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Bank of America's Continued Mis-Steps

We are having a tough time keeping up with the nonsense at BofA. Adding to their recent problems, they have now announced that they are going to start charging their own customers $5.00 a month if they...

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In How Many Ways Can We Bail Out Bank of America?

These hallway bullies already have our lunch money; now they’re after our caps, shoelaces and bubblegum—anything they can grab.Okay, Bank of America, I get it.First, you dig into the pockets of every...

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Bank of America CEO: We have a 'right to make a profit'

Please, Bank of America, take our money. It's your right. You know how Bank of America is going to start charging you $5 a month to use your own money? Turns out it's not class warfare or blatant...

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Bank of America reports $6.2 billion profit for third quarter, but must have...

Remember the justification the big banks are using for possibly colluding to charge customers new fees, just for the convenience of using their debit cards to spend their own money? "Diminished...

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Bank of America Still Causing Problems for Merrill Brokers

Bank of America has always been a disaster in the brokerage business, with a long history of mistreatment of its brokers. That outrage became well known when it took over the failing Merrill Lynch in...

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The Perpetually Imminent AG Settlement Has Arrived

A long-vaunted settlement arising from the sixteen-month 50-state investigation into faulty bank foreclosure practices, which has perpetually been imminent, has finally concluded.  The deal was struck...

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Mortgage Servicing Settlement Reached

February 9, 2012.  Today government officials, including  Attorney General Eric Holder, announced a $26 billion settlement with five banks to settle allegations of mortgage servicing and foreclosure...

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$26 Billion Dollar Settlement of Mortgage Foreclosure Practices: It's Not...

The Department of Justice, HUD and State Attorneys General are sure proud to have reached a settlement with five banks (Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally) over the...

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Wells Fargo's Credit Defense Program is Offensive

I don’t know about you, but I’m sick of being taken advantage of by my bank.  What do I look like, an ATM?  “Hmmmm… let’s see what he will pay for now.”  Each year banks make more and more money from...

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Can’t Seem to Find Common Ground with Plaintiff’s Counsel? Try the Trustee.

Alison Frankel, whose On the Case blog is featured in the Thomson Reuters News and Insight section, posted this interesting article today discussing a novel alternative to the class action as a device...

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South Carolina's Innovative "Tax Return" -- As in, Return Your Money to Bank...

Shame on you, South Carolina.  Your citizens deserve better.  Better than the pact you made with Bank of America.  And better than your representation of the deal, which wrongfully paints it as a major...

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BofA Accused of Discriminating Against The Disabled

The long list of complaints about Bank of America’s lending practices has gotten longer.  After complaints by two borrowers in Michigan and one borrower in Wisconsin, the U. S. Department of Housing...

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Springtime for Bank Fees

In September 2011, Bank of America announced that they would start charging their customers a $5 debit card fee. But thanks to the Internet and social media, an intense fervor by BofA customers against...

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Wall Street Bonus Wars Get Even Crazier

The Wall Street Journal and others are reporting that Merrill Lynch has upped its recruiting package for top-40 percent advisers by offering an upfront cash bonus of 150 percent of the fees and...

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