Search for: "Bank of America"
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18 Nov, 2008 8:16 pm
... any dividends are actually declared for such dividend period), and shall be subject to the approval of the appropriate Federal Banking Agency. Following the redemption in
whole of the Designated Preferred Stock held by the Treasury, the financial institution shall have the ... merger has not been completed, Merrill Lynch has the right, after consultation
with the Federal Reserve and Bank of America, to request that the U.S. Treasury consummate the CPP
investment on or prior to January 1, 2009. The ...
28 Nov, 2007 8:03 am
... : report NEW YORK (Reuters) - Citigroup Inc got a call from a prominent investment banker suggesting a merger with Bank of America Corp as it was dealing with billions of dollars in mortgage-related losses and the departure of Chief Executive Charles ... manufacturing, and our
banking largely controlled by foreign nations or foreign corporations? It is a form of reverse colonialism. America is becoming the
economic colony of Japan, the Middle East, China, and others. This can't be a good thing for ...
27 Mar 8:45 am
... some bailout madness, and some consumer abuse all in one. The DOJ is supporting Bank of America
in a case related to BofA taking elderly customers' social security and disability benefits to pay overdraft fees. California law forbids banks from seizing protected funds like
social security benefits. From MoJo: "Even if ... to protect their ability to dish out big bonuses and avoid an increase in bank regulation. He
argues that "it is time to open a discussion about whether any corporate funds ...
13 Jan 5:20 am
Thomas B. Lewis, Shareholder and member of Stark & Stark's Employment group, was quoted in the January 9, 2009 article, Brokers Disdain Toaster Salesmen in Bank America Deal. Controversy has followed ... , 2008 acquisition of Merrill Lynch since day one. Initially,
disputes arose over whether or not Bank of America would honor Merrill Lynch's employment contracts
for the nearly 16,000 brokers affected by the acquisition. Now, two senior Merrill executives have left within days of the acquisition ...
29 Jan 12:58 pm
University of Chicago Law Faculty Blogger Bernard Harcourt says Bank of America should immediately
write the U.S. Treasury a check for $4 Billion -- the amount Merrill Lynch (acquired by Bank of America) paid out in year-end 2008 executive bonuses...
5 May, 2008 11:43 pm
... in the United States. David Vickrey, who used to work on corporate finance transactions at Deutsche Bank Securiites and Barclays Capital,
has written extensively in his blog Dialog International ... of posts in chronological order (latest on top): Karma and Bad Times for Deutsche Bank in America (April 27, 2008) Greed and Fear: US Subprime Crisis Takes Its ... Germany (April 1, 2008) German
Government: Please Sue Deutsche Bank (March 10, 2008) Deutsche Bank: America's Foreclosure King (January 24, 2008)
5 Jul 5:19 pm
The U.S. House of Representatives Committee on Oversight and Governnment Reform is conducting a series of hearings to examine Bank of
America's acquisition of Merrill Lynch, which started as an unasisted purchase, but subsequently required an extra $20 Billion in...
28 Aug 5:42 pm
The SEC is now saying that Bank of America acted in good faith but essentially made a careless error
by not disclosing to investors its plans to pay bonuses to Merrill Lynch executives. (You won't be surprised to learn that...
12 Oct 5:38 pm
Ohio Attorney General Richard Cordray has filed suit against Bank of America in NY District Court on
behalf of pension funds in Ohio, Texas, Sweden, and the Netherlands. The alleged basis for the lawsuit is BofA's failure to disclose bonuses...
4 Oct 7:34 am
Bank consolidation research led me to the graphical representation of bank consolidations to date
which have produced the four largest U.S. banks: Bank of America, JP Morgan Chase, Wells
Fargo, and Citibank. Enjoy: http://www.creditloan.com/blog/the-great-bank-consolidation/ (ag) Oct. 4, 2009, in Economy
7 Feb, 2008 7:50 am
Mark your calendars for February 20, the season premiere of America's Next Top Model: Cycle 10. Exciting! Meanwhile, National Jurist has issued
a list of America's top law reviews. To review the 100 law reviews in rank order, click here, then scroll down. We're pleased to see the Yale
Law Journal, in whose offices we once toiled (Book Reviews Editor, Volume 108), tied for first place with the Harvard Law Review. And if the HLR keeps on publishing stuff like this,
maybe the YLJ won't have to ...
17 Sep, 2007 12:16 pm
... clearly has no relationship to BoA's costs. My theory it is that it is a way for Bank of America
to increase its depositary base (a low cost source of funds) and continue ... boast their deposit base to meet reserve requirements. There are two ways a bank can grow its deposit base-organically and through acquisitions. Acquisition growth ... against consumer interests. And to bring it all home to "credit"
and "bankruptcy," when banks grow their deposit base, it has the same effect as lower interest rates ...
8 Feb 5:28 am
... time period has begun running to accept or decline the offer, which will then to to the assigned judge for approval. The legality of nationwide banking practice regarding
overdraft and non-sufficient fund fees has been challenged for nearly twenty years, with ... , meaning that you will only be included if you submit a claim form. The settlement,
however, is on behalf of all Bank of America customers who have been affected by this practice,
nationwide, between the years 2000 and 2007. It has an opt ...
18 Jul, 2008 4:59 pm
... and as suitable alternatives to money market mutual funds. On Feb. 13, 2008, all of the major broker-dealers, including Bank of
America, withdrew their support for the auctions. The suit claims that, as a result, investors have been unable to liquidate their auction rate
securities. The lawsuit alleges that Bank of America failed to disclose the following material facts
about the auction rate securities it sold to the class: • The auction rate securities were ...
7 Nov 9:21 am
... s alleged misconduct now pay the penalty for that misconduct…. * * * [I]n all its voluminous papers protesting its innocence, Bank of
America never actually provides the Court with the particularized facts that the Court requested, such as precisely how ... Judgment was a
contrivance designed to provide the S.E.C. with the facade of enforcement and the management of the Bank with a quick resolution of an
embarrassing inquiry-all at the expense of the sole alleged victims, the shareholders. Even under ...
26 Sep, 2007 7:08 pm
77-year old Peter Gossels won his 8-year lawsuit against Bank Of America for $10,000 in undisclosed
fees the bank assessed when he deposited a large check drawn on a German bank. He might not have won
had the bank not accidentally stapled to a deposition a "secret rate sheet" that was handed out to tellers daily and told not to show to
customers. read more | digg story
23 Jan 3:01 am
... false or misleading. Bolding mine; that will be the crux of their claim. There does not seem to be any evidence that Bank of American knew
the extent of Merrill Lynch's losses when it negotiated the merger nor when it issued the ... as new information becomes available. Contrast that with some of the language contained in
the registration statement itself: The ability of either Bank of America or Merrill Lynch to predict
results or the actual effects of its plans and strategies, or those of the ...
3 Oct, 2007 11:20 am
When I first saw headlines about this case, I was sure there must be a whole lot to the story and that the bank would have laws and
documentation on their side. Wrong! Below is a narrative written by Greg Miller, the son of Bette Miller, the woman being fleeced. He ... , you had to present the actual bond. The bond
certificate was put in a safe deposit box and left there. Rainier Banik was sold to Seattle Pacific Bank, which was acquired by SeaFirst
Bank, which was bought by Bank of America. (more…)
25 Oct 9:39 pm
... wrong with this: Eric Roth, a litigation partner at Wachtell, Lipton, Rosen & Katz, apparently was telling the Bank of America Corp. leadership one story about how difficult it would be to escape from the merger with Merrill Lynch & Co. Inc ... with some officials from the
Federal Reserve. The e-mails appear to confirm previous Corporate Counsel stories that the bank was telling federal regulators that it wanted
to declare the MAC, even though its own lawyers and leaders knew that legally ...
1 Nov 8:12 pm
... and in the mattress which offered little security, potential for growth and accessibility was no longer a suitable alternative to a bank
account.[7] What evolved was the innovative and revolutionary NetSpend National Savings Program allowing customers to obtain a no- ... .fisca.org] (last visited Oct. 28, 2009). 6. Press
Release, Financial Service Centers of America, Revolutionary Partnership Provides "Virtual" Bank
Accounts and No-Fee Savings Accounts to Unbanked Americans, Empowering Them to Save ...
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