After a brief breather, it was back to pummeling the living heck out each other for the remaining contenders in this year’s Worst Company In America tournament. And even though the nation’s largest airline and biggest fast food chain looked like they might have had what it takes to challenge for the Golden Poo, one has to always remember an ages-old truth: People just plain hate banks. [More]
While it’s still settling multibillion-dollar tabs tied to the mortgage meltdown, Bank of America continues to face new legal and regulatory pressure. Yesterday, the bank revealed that it is being investigated by federal authorities to see whether it has complied with a program aimed to ease the mortgage-lending process. [More]
Back in October, a federal jury found Bank of America liable for a Countrywide Financial program that deliberately sold piles of worthless loans to Fannie Mae and Freddie Mac before the housing bubble went kaflooey. At the time, prosecutors had only sought $864 million in penalties, but now the Justice Dept. claims that number should be $2.1 billion. [More]
As we’ve noted multiple times over the years, some banks love to lump all transactions made by a customer during a day or weekend together and then process them not in the order they were received, but from largest to smallest. For customers on the brink of overdrafting, this can result in numerous fees that may have been avoided if the charges had been processed chronologically. In a rare bit of positive Bank of America news, the bank has decided to stop this high-to-low transaction processing (for many debit purchases). [More]
Between homeowners eager to get out from underwater mortgages and real estate speculators looking to scoop up below-market properties, there are a lot of people out there eager to grease the wheels to make a short sale happen. And federal authorities say one now-former Bank of America employee accepted at least $1 million in bribes to improperly approve short sales and falsify bank records. [More]
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]
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]
When David tried to report some fraudulent activity on his debit card, Bank of America transferred his call to a 1-900 type phone line that specialized in feet-related activities.
Earlier today, in a move not terribly dissimilar to the Philadelphia homeowner who attempted to “foreclose” on Wells Fargo, a Florida couple showed up at a Bank of America branch with two sheriff’s deputies, ready to claim office assets to satisfy an unpaid debt.
A Bank of America bank manager could end up in jail if the bank doesn’t demolish a fire-damaged eyesore, a Georgia court has warned.
Olly, olly, oxen, free. A class action lawsuit against Bank of America claiming they were less than above board with their loan modification practices has been certified for national participation.
CBS 13 has the story of a man who fell behind on his mortgage payments who was told by Bank of America that unless he sent them $4,175 he would lose his house that he had spent years putting work into. So he managed to put together the money and sent it in as a cashier’s check. Then the bank lost his check.
Wikileaks founder Julian Assange played coy in his 60 Minutes interview last night as reporter Steve Kroft tried to press him about the identity of the big bank he supposedly has a 5GB hard drive of secrets on.
Bank of America is trying out a new system of checking accounts with new rules—and new fees for breaking them.
Over at Domain Name Wire they noticed that starting on December 17th, someone has been going around buying up all the various permutations of BankofAmericaExecNameHereSucks.com sites. So sorry folks, you won’t be able to start your new BrianMoynihanBlows.com, BrianMoynihanSucks.com, or BrianTMoynihanBlows.com blog. You were going to use it host your lookbook of clever Lawrence, KS fashions, right?
Why should politics get all the fun? WikiLeaks has promised to release a trove of information about a “major” bank in 2011. And based on a comment WikiLeaks founder Julian Assange made to Computer World in 2009, folks are speculating that the next massive dump will be 5 gigs of data from a Bank of America executive’s hard drive. The main question is how to present it. Well, slideshows and infographics and popup ads, obviously.
If you’ve lost your remote and been unable to fast-forward through your DVRd shows — or heaven forbid you’ve had to watch something on live TV — in the last two months, you might have seen one of Bank of America’s commercials touting its “$0 Liability Guarantee” for all its credit and debit cards. But is all this just window decoration on guarantees you already have?
Ah, innovation! Bank of America was just awarded a patent for a process that lets it make sure any teller at any branch will know not to give you a refund on a disputed overdraft fee. According to Techdirt, the idea is to prevent “refund shopping,” where a customer might visit multiple branches hoping to find a sympathetic ear.