Bank of America Corp has reached a $16.65 billion settlement with US regulators to settle charges that it misled investors into buying troubled mortgage-backed securities.
The settlement announced on Thursday by the US Department
Investor confidence in global economic growth remains high even as expectations of higher short-term rates increase, a report said.
The number of investors believing the global economy will grow over the next 12 months was steady
The US government urged that Bank of America Corp pay $863.6 million in damages after a federal jury found it liable for fraud over defective mortgages sold by its Countrywide unit.
In a filing late Friday in the US District Court
Bank of America (BoA) has announced that it has completed the merger of its Merrill Lynch & Co subsidiary into Bank of America Corp.
Bank of America previously stated that it was considering merging Merrill Lynch & Co dire
The US government on Tuesday filed two civil lawsuits against Bank of America that accuse the bank of investor fraud in its sale of $850 million of residential mortgage-backed securities.
The lawsuits are the l
Global investors remain confident in the outlook for economic growth despite their sharp loss of faith in China, according to the Bank of America Merrill Lynch Fund Manager Survey for July.
A net 52 per cent of respondents now exp
New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America, Wells Fargo and Company and other banks violated the terms of a settlement designed to end mortgage servicing abuses.
Bank of America Merrill Lynch (BofA) plans to increase lending to businesses in the Middle East as oil-rich Gulf investors show more appetite for acquisitions, a senior banker at the US financial services firm said.
Bank of America Corp has agreed to pay $2.43 billion to settle claims it hid crucial information from shareholders when it bought investment bank Merrill Lynch & Co at the height of the financial crisis.
The settlement, among
Bank of America Corp's investment banking head for Mena and Turkey, Waleed El-Amir, has resigned, a source familiar with the matter said on Thursday, the latest top banker to leave the US lender.
El-Amir, a veteran Merrill Lynch bank