Most of the $40 billion Bank of America has set aside to pay out over the mortgage meltdown can be blamed on malfeasance at Countrywide Financial. But some investors say that BofA’s hands are not totally clean in this mess — and that the bank has gotten off too easy thus far. [More]
bank of america
Bank Of America Site Outage Leaves Customers Without Online Access To Accounts
By 2.1.13 — Updated: 2.2.13
UPDATE: Shortly before midnight ET on Friday, the BofA Twitter account finally provided some good news. [More]
Eviction Papers Served To Squatter In $2.5 Million Mansion, But He’s Sticking Around For Now
By 2.1.13
The sheriff finally served an eviction notice to the man who’s been squatting in a Florida mansion worth around $2.5 million. But it looks like the squatter will at least be able to enjoy the Super Bowl and maybe Valentine’s Day in the bank-owned house. [More]
BofA CEO: Cleaning Up Countrywide Mortgage Mess Is Like Climbing Mountain With 250 lbs. On Your Back
By 1.25.13
Before the economy nosedived, Bank of America was the aww-shucks upstart from North Carolina who was quietly making its play to become one of the world’s largest banks. Then things turned bad for mammomth mortgage-lender Countrywide and investment bank biggie Merrill Lynch, and BofA swooped in to save both. [More]
Squatter Takes Over $2.5 Million Bank-Owned Home, Bank Of America Doesn’t Seem To Care
By 1.24.13
If you’re going to squat, you might as well squat like a rich dude. Just ask the man in Florida who has been enjoying the mortgage-free life in a $2.5 million, 7,200 sq-ft house, all while the owner — Bank of America — appears to be doing nothing to get him out. [More]
Apparently No Bank Of America Safe Deposit Box Customers Have Ever Died Before
By 1.18.13
Last fall, Jay’s mother died after a heart procedure. We’re very sorry for his loss, but also very sorry that her death meant that he has to deal with Bank of America. Before the procedure, she added him to her accounts as a signatory, not realizing that doing so didn’t give him access to her safe-deposit box. Going through probate in order to get the documents he needs to access the box will cost more than $1,000. What’s inside? No one knows. Certainly not Jay, even though he’s the executor of his mom’s estate and her only heir. It could be a copy of her will, or it could be stacks of gold bullion. [More]
Deadline For Foreclosed-Upon Homeowners To File Claim In National Mortgage Settlement Is This Friday
By 1.14.13
It took years to reach the $25 billion settlement between the nation’s largest lenders and 49 states, but affected homeowners were only given months to claim their piece of the pie. [More]
List Of Companies With Worst Customer Service Scores Is Full Of Familiar Names
By 1.8.13 — Updated: 3.19.13
Bank of America, Comcast, Time Warner Cable, Delta, Charter, American Airlines — these are just a few of the all-too-familiar companies sitting comfortably in the back of the pack in terms of customer service for 2012. [More]
Bank Of America To Pay $11.6 Billion In Latest Countrywide Settlement
By 1.7.13
Like someone who thought they were buying a nice little fixer-upper at a bargain only to find that every ounce of the property is covered in lead paint and asbestos, Bank of America’s 2008 purchase of Countrywide Financial continues to eat away at the company’s coffers. [More]
Bank Of America Provided Cheat Sheet To ‘Independent’ Foreclosure Reviewers
By 12.17.12
Imagine you’re sitting down for an exam and you find that your friend has already filled in the answers with what he believes are the correct answers. Sure, you can change whatever you want but it would also be so much easier to just let your friend’s answers go, so long as you’re generally in agreement. [More]
Bank Of America Dead Last In Customer Satisfaction Study
By 12.11.12
The folks at the American Customer Satisfaction Index have released their latest report on the banking industry and for the sixth year in a row, credit unions and small banks have outscored all the large financial institutions. And for the second consecutive year, Bank of America is bringing up the rear. [More]
Bank Of America Is Really Good At Losing Documents, Really Bad At Believing My Mother Is Dead
By 11.26.12
Picking up the pieces of a late loved one’s life is something no one looks forward to. Many businesses know this and will do what they can to ease you through the process. Then there’s Bank of America. [More]
Bank Of America Sends New Debit Card To APO Address, Then Remembers They Don’t Send Cards To APO Addresses
By 11.6.12
Brett’s Bank of America debit card stopped working. A merchant he had patronized recently (they wouldn’t say who, of course) had been compromised, and they sent him a new card a month before. The problem: Brett is in Afghanistan right now. The bank sent a replacement card out to him right away by FedEx, but only after it didn’t show up did they remember: oh, yeah, they don’t send new debit cards to APO addresses! Helpful. [More]
Bank Of America Fires Investment Banker Over 1998 Dine & Dash At Denny’s
By 10.30.12 — Updated: 11.1.12
More than a few people are upset at large financial institutions for their apparent lack of accountability following the 2008 economic collapse, so the banks and their regulators have paid lip service to the idea of having tougher standards. As a result, one investment banker says he was fired from Bank of America for a minor breakfast-related misunderstanding from 1998. [More]
Can Bank Of America Argue Its Way Out Of Federal Lawsuit?
By 10.29.12
Last week, the federal government reminded Bank of America once again of how stupid an idea it was to acquire Countrywide Financial, filing the latest in a slew of lawsuits that have already cost BofA an estimated $40 billion. But some say that the bank might have some legal wiggle room in this case. [More]
If You Get Screwed By eBay Seller, Complain Within 45 Days Or Forever Hold Your Peace
By 10.26.12
When you pay for something on eBay but it never arrives, you’d expect that eBay would be on your side and work to get your money back. That might be true, if you plead your case within 45 days of making the purchase. [More]
Feds Sue Bank Of America Over $1 Billion In Bad Loans Sold To Fannie Mae, Freddie Mac
By 10.24.12
Bank of America continues to crawl through the legal spanking machine because of its ill-fated, idiotic, utterly stupid decision to buy Countrywide Financial and its mountain of toxic mortgages in 2008. This time, it’s the U.S. government that has sued the bank over all the rotten loans it sold to Freddie Mac and Fannie Mae, both of which were bailed out by the feds in 2008. [More]
Data Shows Bank Of America Is Also Bad At Dealing With Credit Card Complaints
By 10.12.12
Earlier this year, the Consumer Financial Protection Bureau launched a complaint portal for people with credit card-related issues. Banks and card companies are not obliged to provide a happy ending to the complainant, but they are obliged to reply in a timely manner. And even with the bar lowered that much, Bank of America still manages to disappoint. [More]
