Remember that massive $25 billion settlement between the nation’s largest mortgage servicers — Bank of America, Wells Fargo, Chase, Citi, Ally — and attorneys general from around the nation? Well, it comes with a lot of rules for these institutions to follow. But the person in charge of monitoring the settlement says most of the banks are failing to comply fully. [More]
Big Banks Failing To Comply With All The Rules For National Mortgage Settlement
By June 19, 2013
Former Staffers: Bank Of America Rewarded Us For Lying To Homeowners, Losing Paperwork, Denying Modifications
By June 17, 2013
In sworn statements provided for a lawsuit by homeowners against Bank of America, a half-dozen people who reviewed loan modification applications for BofA say the company encouraged staffers to lose applicants paperwork so that it could later be denied, putting homeowners at further risk of losing their homes. And if these people are to be believed, some folks out there may have lost their homes so that a BofA employee could get a Target gift card. [More]
Consumer-Friendly Checking Account Practices Vary Wildly From Bank To Bank
By May 31, 2013
Unless you’ve been hiding under a bed for the last six years, you probably know that the banking industry isn’t exactly beloved by many American consumers. As a reaction to public sentiment (and threats of regulation), a number of banks have begun phasing in some more consumer-friendly practices, but a new study shows these changes are not industry-wide and that several banks are still years behind. [More]
Bank Of America Gives Existing Customers Yet Another Reason To Flee
By May 14, 2013
Many banks offer benefits to account-holders who also have their home loan serviced by the institution. Bank of America has been doing that for years, cutting fees for people with both checking accounts and mortgages. But now BofA has gone and sold off millions of these mortgages to another servicer, starting a countdown clock for account-holders to go elsewhere or likely face new fees. [More]
New York AG To Sue Bank Of America, Wells Fargo Over Alleged Violations Of National Mortgage Settlement
By May 6, 2013
If the big mortgage servicers thought they’d put a pile of legal troubles behind them when they reached the $25 billion dollar National Mortgage Settlement with almost every state in 2012, they were wrong. Today, New York Attorney General Eric Schneiderman announced his intention to sue Bank of America and Wells Fargo for what he alleges is a ” persistent pattern of non-compliance” by the two banks. [More]
Bank Of America To Shell Out Another $500 Million To Settle Another Investors’ Lawsuit
By April 17, 2013
Nearly five years after swallowing the rancid slab of meat that was Countrywide Financial, Bank of America is still vomiting up hundreds of millions of dollars to settle lawsuits tied to that failed company’s misdeeds. The latest is a $500 million class-action settlement with groups that invested in Countrywide’s radioactive mortgages. [More]
Worst Company In America Final Death Match: Bank Of America Vs. EA, Part II
April 8, 2013
This is it. Make no mistake where you are. After weeks of gouged eyeballs, pulverized ribs, countless bruised egos, and one dislocated thumb, the battered bodies of 30 bad businesses are licking their wounds and vowing to fight another year, while your votes have set up an epic rematch of the 2012 Final Death Match. [More]
Worst Company In America Semifinals: Bank Of America Vs. Comcast
April 5, 2013
Today’s Semifinal Double-Bill kicks off with a pair of former champs (well, sorta) trying to earn a spot in the WCIA Hall of Shfame, which is a combination of Shame and Fame that we just made up. [More]
Meet The Final 4 Contenders For Worst Company In America 2013
April 4, 2013
After more than two weeks of dismemberment, disembowelment, and all-around good family fun, this year’s Worst Company In America tournament nears its finale, with only four contenders remaining with a chance at claiming the ultimate victory and clutching the Golden Poo. [More]
Bank Of America Introduces ATMs With Live Remote Tellers On Video Screens
By April 4, 2013
Instead of screaming in frustration at an unresponsive machine, Bank of America is introducing the potential for customer to interact with more than just a hunk of machinery by way of its new remote teller video ATMs. And this isn’t some weird computer-generated customer service tool, the ATM will have a live video link for certain transactions. [More]
How Bank Of America Lost All Of My Business Over A $2 Balance Check Fee
By April 4, 2013
As a reader of Consumerist, Shawn knew that he should probably stay away from mega-bank and Worst Company in America 2013 Final Four contender Bank of America. Yet his non-BoA lender of choice sold his mortgage to…well, guess who? He moved his other banking there for the sake of convenience, and that’s when he walked up to an ATM and conducted the fateful transaction. [More]
Worst Company In America Quarterfinals: Bank Of America Vs. Walmart
April 3, 2013
We’re getting so close to handing out the Golden Poo you can almost taste it. Wait… that doesn’t sound right. [More]
These 8 Remaining Worst Company In America Contenders Sure Are Elite
April 2, 2013
The madness of March, when 32 bad businesses began pummeling each other mercilessly in an orgy of blood and denied extended warranties, has been refined and honed into the brutal fiery fury of April, as only eight names cling tenuously to their claim to be the Worst Company In America. [More]
Another Day, Another 9-Figure Settlement For Bank Of America
By April 2, 2013
For most companies, a $165 million settlement would be huge news. For Bank of America, it’s like a paper cut on a guy that’s been swimming in the piranha tank all day. Not that we feel any sympathy. [More]
Worst Company In America Round 2: Bank Of America Vs. Chase
March 28, 2013
It’s time for Banker Battle 2013, as these two Wall Street Warriors take a break from trading toxic securities in order to trade some deadly blows to the head. [More]
Meet Your Worst Company In America Not-So-Sweet 16!
March 27, 2013
Last week, 32 terrible titans of industry stepped on to the blood-stained mat of WCIA Death-and-Dismemberment Arena, but only 16 remain in this bestial battle royale to take home the treasured Golden Poo. [More]
Worst Company In America Round 1: Bank Of America Vs. Capital One
March 25, 2013
Your NCAA bracket might already be busted, but how are you doing with your WCIA predictions? Starting off today’s bloodshed is a showdown featuring the tournament’s perennial bridesmaid. [More]
Banks Uncover Additional Wrongful Foreclosures On Military Members
By March 4, 2013
The Servicemembers Civil Relief Act (SCRA) is intended, in part, to help protect active-duty members of the armed forces from having their homes taken away by foreclosure, but as we’ve seen, this hasn’t stopped banks from ignoring the law and taking those houses anyway. Now comes a report that banks have recently uncovered hundreds of additional wrongful foreclosures on the homes of servicemembers. [More]
