Bank of America Losses on Bond Portfolio Hit $109 Billion in First Quarter as Rates Rose
barrons.com/articles/bank-of-america-bond-losses-ce69bf86
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Bank of America Set to Report Earnings as High Interest Rates Cut Both Ways
barrons.com/articles/bank-of-america-earnings-preview-b4d97283
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Bank of America Racks Up Bond Losses That Could Top $100 Billion: As bond yields turned higher in the first quarter, Bank of America’s unrealized losses on a key ...
barrons.com/articles/bank-of-america-stock-bond-losses-97bf300e
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LA Unified School District Seeks to Shed Build America Bonds: The Los Angeles Unified School District is heading to Wall Street next week to lower the cost on ...
bloomberg.com/news/articles/2024-04-19/la-unified-school-district-seeks-to-shed-build-america-bonds
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20 bank holding companies with the largest credit card loan portfolios: The top five bank holding companies have combined total credit card loan portfolios of ...
americanbanker.com/list/20-bank-holding-companies-with-the-largest-credit-card-loan-portfolios-at-the-end-of-q4
Even if the ex-president figures out how to pay his mounting legal fees, he’s still going to be scrambling for cash for years to come. on.forbes.com/6187XFAfW
Banks Are Piling Back Into Everything From Mortgage Debt to CLOs: US banks are starting to ramp up purchases of everything from mortgage-backed securities to ...
bloomberg.com/news/articles/2024-02-16/banks-are-piling-back-into-everything-from-mortgage-debt-to-clos
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Capital One is buying Discover in a $35.3 billion deal: Capital One announced it’s acquiring Discover Financial Services for $35.3 billion in an all-stock deal ...
cnn.com/2024/02/19/business/capital-one-buying-discover/
Quick Glance: Acquisition Plans: Capital One and Discover Financial
- Capital One plans to acquire Discover Financial, a US credit card company
- Capital One is valued at $52.2 billion and the fourth largest player in the US credit card market
- Discover was the 27th largest US bank by assets, while Capital One was the ninth largest
- Increased regulatory focus on credit card fees, potential merger in this context
New 'Junk Fee' Rule Caps Credit Card Late Fees At $8: The CFPB finalizes a credit card late fee rule expected to save customers $10 billion a year ...
kiplinger.com/personal-finance/banking/junk-fee-rule-caps-credit-card-late-fees
Rite Aid advisers rake in millions. Opioid victims brace for nothing: Rite Aid faced more than 1,600 opioid lawsuits when it filed for bankruptcy ...
bloomberg.com/news/features/2024-03-08/rite-aid-opioid-settlement-victims-will-likely-get-no-payout
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PGIM Takes Aim at Slice of Businesses Once Dominated by Banks: And private credit? Asset managers are looking there, too, CEO David Hunt says
bloomberg.com/news/newsletters/2024-04-16/pgim-takes-aim-at-slice-of-businesses-once-dominated-by-banks
Best 0% APR Business Credit Cards of 2024: The best 0% APR business credit cards offer small business owners financial flexibility through interest-free purchase ...
businessinsider.com/personal-finance/best-zero-apr-business-credit-cards
Best Bank of America Business Credit Cards of 2024: Our comprehensive guide helps you compare rewards, cash back, travel benefits, and other benefits from the ...
businessinsider.com/personal-finance/best-bank-of-america-business-credit-cards
Banks say US consumers in good shape but poll shows Biden gets no credit: Biggest lenders optimistic about economic outlook despite higher interest rates
ft.com/content/532749bd-286b-4de2-97dd-cf5292b205e5
Understanding credit bureaus: Which do banks use for credit cards?: Banks use credit reports from credit bureaus like Experian and Equifax to determine your ...
businessinsider.com/personal-finance/which-credit-bureau-banks-use-for-credit-cards
Ex-FDIC Chair Sheila Bair says it’s wrong for regulators to ‘discourage’ regional bank mergers
marketwatch.com/story/ex-fdic-chair-sheila-bair-says-its-wrong-for-regulators-to-discourage-regional-bank-mergers-d03db057
8 of the biggest issues facing the banking industry today: A major shake-up in the payments world, a data breach that's opened up a debate on who is ultimately ...
americanbanker.com/list/8-of-the-biggest-issues-facing-the-banking-industry-today
Fed's interest-rate decision makes bank stocks more attractive: analyst: KBW bank analyst Chris McGratty says bank-funding costs will go down as rates ease
marketwatch.com/story/why-bank-stocks-are-extending-gains-after-the-feds-decision-to-keep-interest-rate-cuts-on-the-table-74bc2fe6
From cybersecurity to failed mergers, 5 challenges facing banks and credit unions
americanbanker.com/list/how-banks-credit-unions-manage-cybersecurity-and-other-risks
What is the average CD rate?: Discover the average CD rate for terms ranging from 1 month to 5 years. Learn which financial institutions offer higher CD rates ...
businessinsider.com/personal-finance/average-cd-rates
Challenging the debt buyers: A Virginian wins her case -- without a lawyer: When Mazie Green got the notice that a Norfolk-based firm that buys debt from lenders ...
richmond.com/news/state-regional/government-politics/challenging-the-debt-buyers-a-virginian-wins-her-case----without-a-lawyer/article_c009aab8-d65c-11ee-b0d1-efcb44c1c8e8.html
Bank of America CEO flags tug-of-war between inflation and higher wages but says consumers are still spending
marketwatch.com/story/bank-of-america-ceo-flags-tug-of-war-between-inflation-and-higher-wages-but-says-consumers-are-still-spending-8abfc2c5
Bank of America offers financial-wellness perks to commercial-client employees: Bank waives minimum-account-balance requirement for its Preferred Rewards Gold ...
marketwatch.com/story/bank-of-america-ramps-up-financial-wellness-offerings-to-employees-of-its-commercial-clients-c6cf685f
More US home buyers willing to purchase despite high rates -BofA study: U.S. home buyers are becoming more willing to purchase properties even as interest rates ...
reuters.com/markets/us/more-us-home-buyers-willing-purchase-despite-high-rates-bofa-study-2023-12-04/
Reasons you shouldn't wait for mortgage rates to go down to buy a home: Bank of America's Matt Vernon says your financial readiness, not the current mortgage ...
businessinsider.com/personal-finance/shouldnt-wait-mortgage-rates-decrease-matt-vernon-bofa-2024-2
Mortgage Stocks Pushed Higher On Thursday: Here's Why - Bank of America (NYSE:BAC), LendingTree (NASDAQ:T
benzinga.com/news/23/12/36247105/mortgage-stocks-pushed-higher-on-thursday-heres-why
Overdraft fees could drop to as low as $3 under new Biden proposal: The cost to overdraw a bank account could drop to as little as $3 under a proposal announced ...
apnews.com/article/overdraft-junk-fees-banking-biden-jpmorgan-cb8b19687264c0eed757d84911b44303
Quick Glance: Biden's Proposal Could Lower Overdraft Fees to $3
- Proposed rule could eliminate billions in fee revenue for the nation’s biggest banks
- Banks could only charge customers the actual costs of providing overdraft services
- Regulators proposed several fees and will gather industry and public input
- Some banks could provide small lines of credit to allow customers to overdraft
Inside the Biden Administration's Plan to Stop 'Out-of-Control' Overdraft Fees: The CFPB intends to curb overdraft fees from big banks by treating overdrafts ...
money.com/overdraft-fees-banks-cfpb/
Regulators caught Wells Fargo, other banks in probe over mortgage pricing discrimination
cnbc.com/2023/12/11/wells-fargo-mortgage-lenders-probed-over-racial-discrimination.html
Citibank denied account to those with Armenian names: lawsuit: A class-action lawsuit seeks to punish Citibank for arbitrarily denying the applications and ...
latimes.com/business/story/2023-11-27/citibank-discriminated-against-customers-with-armenian-names-lawsuit-alleges
Buy Boomer stocks as older Americans thrive in this economy: BofA: Boomers have the wind at their backs, while Millennials are much more exposed to rising rates ...
markets.businessinsider.com/news/stocks/boomers-wealth-vs-millennials-spending-stock-picks-housing-rate-hikes-2023-10
Bank of America to Pay $12M Over Reporting of False Mortgage Data: Bank of America Corp. agreed to pay $12 million in fines for submitting false mortgage-lending ...
bloomberg.com/news/articles/2023-11-28/bofa-to-pay-12-million-over-reporting-of-false-mortgage-data
UBS to pay $1.4bn to settle fraud claims from 2008 crisis: The Swiss lender is the 18th firm to reach a settlement with US prosecutors investigating the 2008 ...
bbc.com/news/business-66505088
Quick Glance: UBS pays $1.4bn to settle fraud claims from 2008 crisis
- UBS concludes the last US case investigating banks' conduct prior to the crisis, which caused a global downturn.
- The bank deceived investors by misrepresenting the quality of mortgages sold in deals from 2006-2007.
- UBS attempted to have the case dismissed, claiming lack of evidence for intentional fraud.
- UBS, a top global investment bank, becomes the eighteenth firm to reach a settlement in the US for its role in the 2008 crisis.
Housing market follows 1980s playbook: Here's what it means for homebuyers: "Favorable demographics were not enough to hold up the market in the 1980s and will ...
markets.businessinsider.com/news/stocks/housing-market-outlook-1980s-playbook-mortgage-rates-doubled-homebuyers-demographics-2023-10
Millennials feel pain of higher rates way more than baby boomers: "Millennials spend significantly more on housing, while boomers spend more on health care and ...
markets.businessinsider.com/news/stocks/millennials-vs-baby-boomers-wealth-transfer-mortgage-interest-rates-housing-2023-10
Angelo Mozilo, Whose Mortgage Giant Fell in Housing Bust, Dies at 84: He built Countrywide Financial into the country’s largest mortgage lender ...
nytimes.com/2023/07/18/business/angelo-mozilo-dead.html
Renters are being hit harder by inflation than homeowners: Renters and homeowners are experiencing inflation differently, according to new data from Bank of ...
cnn.com/2023/07/12/homes/renters-versus-homeowners-inflation/
Angelo Mozilo’s brilliant promotional skills powered Countrywide stock to soar 23,000% in 20 years—and his hunger for risk led to disaster
fortune.com/2023/07/18/angelo-mozilos-brilliant-promotional-skills-powered-countrywide-stock-to-soar-23000-in-20-years-and-his-hunger-for-risk-led-to-disaster/
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From Apple to Chevron, these are Berkshire Hathaway's biggest holdings.
Quick Glance: Buffett Names Apple as Berkshire Portfolio's Best Business
- Warren Buffett stated that Apple is the best business in Berkshire Hathaway's portfolio.
- Apple is different from the other businesses owned by Berkshire.
- During Berkshire's annual meeting in Nebraska, Buffett said that Apple is simply a better business.
- Berkshire currently holds a 5.6% stake in Apple and Buffett said it could buy more.
More Americans Borrowing from 401(k)s to Get By Financially: 401(k) data from Bank of America shows savers increasingly dipping into their retirement funds to ...
kiplinger.com/retirement/401ks/more-americans-borrowing-from-401ks-to-get-by-financially
What to Do if You Are Denied a Mortgage: Consumer Reports explains what to do if you are denied a mortgage or think you are a victim or redlining or housing ...
consumerreports.org/money/buying-a-home/what-to-do-if-you-are-denied-a-mortgage-a5962702267/
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More US consumers are falling behind on payments: Consumers are starting to fall behind on their credit card and loan payments as the economy softens ...
reuters.com/markets/us/more-us-consumers-are-falling-behind-payments-2023-04-18/
The original aim was to work out how much the cost of living had changed over a given period. These days, indices can also be a guide for economic ... Show more
Millennials looking to buy a home tell BofA the ‘American dream is becoming more challenging than ever’
fortune.com/2023/05/08/bank-of-america-millennials-homeownership-survey-affordability-is-the-big-issue/
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In an attempt to remove the risk of sudden collapses in the wake of Silicon Valley Bank, and make the financial system safer ... Show more
Why markets can never be made truly safe: In seeking to prevent a crisis, officials may have planted the seeds of the next one
economist.com/finance-and-economics/2023/03/23/why-markets-can-never-be-made-truly-safe
A statistical shopping basket must take into account changing tastes as well as new technologies and increased spending on services rather than goods ... Show more
Bank of America to redeploy wealth management, banking employees - source: Bank of America Corp (BAC.N) is redeploying employees in wealth management and lending ...
reuters.com/business/finance/bank-america-redeploy-wealth-management-banking-employees-source-2023-03-24/
Traders Build Up Hedges as Oil Shock Adds to Inflationary Fires: The fashion for retro has hit financial markets: stagflation playbooks from the 1970s are back.
bloomberg.com/news/articles/2023-04-03/traders-build-up-hedges-as-oil-shock-adds-to-inflationary-fires
How credit unions gained some of the deposits banks lost: U.S. banks lost 2.5% of their deposits during the first quarter while credit unions saw a 2 ...
americanbanker.com/creditunions/news/how-credit-unions-gained-some-of-the-deposits-banks-lost
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20 bank holding companies with the largest credit card loan portfolios: The top five bank holding companies have combined total credit card loan portfolios of ...
americanbanker.com/list/20-bank-holding-companies-with-the-largest-credit-card-loan-portfolios
These days central banks tend to have an explicit or implicit inflation target. This means that inflation indices no longer just measure the cost of living but ... Show more
Quick Glance: Egypt's Annual Inflation Eases for the First Time in 10 Months
- Egypt's CPI increased by 1.8% in April, slower than previous months.
- Food and beverage prices rose by 2.3% in April, with grain and bread prices up 7% and fish prices up 7.3%.
- Poultry and meat prices increased by 0.9%.
- Housing, water, electricity, natural gas, and fuel prices rose by 0.6%, while transportation prices rose by 0.9%.
Looking to apply for home equity lines of credit? Some larger banks have a pause on them
sun-sentinel.com/2023/05/21/looking-to-apply-for-home-equity-lines-of-credit-some-larger-banks-have-a-pause-on-them
Looking to apply for home equity lines of credit? Some larger banks have a pause on them
sun-sentinel.com/2023/05/21/looking-to-apply-for-home-equity-lines-of-credit-some-larger-banks-have-a-pause-on-them
After a flurry of dealmaking in the early phase of the global financial crisis of 2007-09, there was too much uncertainty and fear for more to be done ... Show more
What the First Republic deal means for America’s banks: Regulators had to make it sweet enough for JPMorgan Chase to bite
economist.com/finance-and-economics/2023/05/03/what-the-first-republic-deal-means-for-americas-banks
When the financial system is consumed by uncertainty or fear, it is just about impossible to get to a good deal. That another bank was willing and able to buy ... Show more
What the First Republic deal means for America’s banks: Regulators had to make it sweet enough for JPMorgan Chase to bite
economist.com/finance-and-economics/2023/05/03/what-the-first-republic-deal-means-for-americas-banks
After a flurry of dealmaking in the early phase of the global financial crisis of 2007-09, there was too much uncertainty and fear for more to be done ... Show more
What the First Republic deal means for America’s banks: Regulators had to make it sweet enough for JPMorgan Chase to bite
economist.com/finance-and-economics/2023/05/03/what-the-first-republic-deal-means-for-americas-banks
BofA's Hartnett sees commercial real estate as the 'next shoe to drop': Spreads for commercial mortgage-backed securities are at their widest compared with ...
cnbc.com/2023/03/24/bofas-hartnett-sees-commercial-real-estate-as-the-next-shoe-to-drop.html
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Collateral is called financial plumbing for a reason: it is crucial but unsexy. And like ordinary plumbing, you hear about it only when something has gone wrong
Why markets can never be made truly safe: In seeking to prevent a crisis, officials may have planted the seeds of the next one
economist.com/finance-and-economics/2023/03/23/why-markets-can-never-be-made-truly-safe
Bank of America upgrades Toll Brothers, cites favorable setup for homebuilder stocks as rates decline
cnbc.com/2023/01/11/bank-of-america-upgrades-toll-brothers-cites-favorable-setup-for-homebuilder-stocks-as-rates-decline.html
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Where the coming housing crunch will be most painful: Global property’s goody-two-shoes are in trouble
economist.com/finance-and-economics/2022/11/24/where-the-coming-housing-crunch-will-be-most-painful
Need help with rental, mortgage costs? Miami-Dade financial assistance programs can help
miamiherald.com/news/business/real-estate-news/article270391267.html
Bank of America tests nothing-down loans in Black, Latino neighborhoods: Bank of America is offering mortgages for first-time homeowners that do not require down ...
nytimes.com/2022/09/01/business/zero-down-payment-mortgages.html
Americans fear zero-down mortgages mean repeat of 2008 housing crisis: Zero-down mortgages like Bank of America's worry some buyers who think they could lead to ...
businessinsider.com/americans-fear-zero-down-mortgages-repeat-2008-housing-foreclosure-crash-2022-10
Bank of America to pay $1.84B to settle crisis-era Countrywide case: The settlement with an insurer over Countrywide's mortgage-backed securities closes another ...
americanbanker.com/news/bank-of-america-to-pay-1-84b-to-settle-crisis-era-countrywide-case
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Bank of America now offering zero-down mortgages for Black, Latino first-time homebuyers
charlotteobserver.com/news/business/banking/article265182696.html
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BofA tells court Ambac cannot prove $2.7 bln mortgage case: Bond insurer Ambac Financial Group Inc cannot prove its $2.7 billion case against Bank of America ...
reuters.com/markets/us/ambacs-27-bln-mortgage-case-against-bank-america-heads-trial-2022-09-07/
A 'shakeout' among mortgage lenders is coming, according to CEO of bank that left the business
cnbc.com/2022/08/05/-santanders-tim-wennes-a-shakeout-among-mortgage-lenders-is-coming.html
BofA Offers Housing Relief to People of Color: A 29-percentage-point gap in homeownership exists between Whites and Blacks, and for Hispanics ...
thestreet.com/investing/bofa-zero-down-mortgages-people-of-color
Bank of America plans to launch a unified app to attract new customers: Bank of America will roll all of its product lines into one unified app that is slated to ...
businessinsider.com/bank-of-america-plans-to-launch-a-new-unified-app-2022-3
Where home prices are headed through 2023, as forecast by Bank of America: This year, we're on pace for another double-digit increase in home prices ...
fortune.com/2022/03/16/home-prices-2022-2023-bank-of-america-forecast-mortgage-rates/
Getting to know: Brandi Lambert with Bank of America: Title: First mortgage and home equity process design consultant at Bank of America
richmond.com/business/getting-to-know-brandi-lambert-with-bank-of-america/article_549de609-040b-53cc-afc5-0dbf7205dd11.html
Bank of America creating new mortgages-focused team for Merrill Lynch: Merrill Lynch is creating a team dedicated to assisting mortgage specialists ...
businessinsider.com/bank-of-america-mortgages-team-merrill-lynch-wealth-management-2021-9
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Merrill Lynch makes changes for advisors as part of Project Thunder: Bank of America's wealth management business has been rolling out updates in recent weeks ...
businessinsider.com/merrill-lynch-ramping-up-alternatives-mortgage-products-memo-project-thunder-2021-9
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Wall Street's crypto experts — BofA mortgage exodus — Litigation finance power players
businessinsider.com/top-finance-stories-week-of-may-24-crypto-research-bac-2021-5
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Inside an NYC real-estate heir's shady cryptocoin: Kent Swig, a NYC real-estate heir, is planning a $6 billion cryptocurrency offering tied to a shady partner.
businessinsider.com/top-finance-stories-of-the-day-for-may-28-2021-5
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Bank of America will let customers defer mortgage payments: Former White House economist Kevin Hassett tells CNN's Poppy Harlow that the coronavirus could ...
edition.cnn.com/2020/03/19/business/bank-of-america-mortgage-loan-deferment/
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