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A former seven-year Bank of America employee alleges in a series of leaked documents that a Bank of America subsidiary, Balboa Insurance, engaged in scams involving insurance policies known as force-placed insurance.

Continue reading Bank of America Document Leaks Allege Insurance Scams

Bank of America Document Leaks Allege Insurance Scams originally appeared on DailyFinance on Mon, 14 Mar 2011 12:30:00.

Filed Under: Company News, Bank of America

Bank of America is reportedly offering legislators a special hot line with the bank, to help with homeowner’s mortgage modification. But no one else can have access to the number, not even the people who most need it.

Continue reading BofA Offers to Help Fix Mortgages…If You’re a State Legislator

BofA Offers to Help Fix Mortgages…If You’re a State Legislator originally appeared on DailyFinance on Fri, 11 Mar 2011 20:45:00.

Filed Under: Columns, Economy, Bank of America, Real Estate

Almost as soon as regulators proposed a settlement for the mortgage mess that would require banks to obey the law, the banks’ Republican allies began trying to weaken it through obfuscation and confusion. Read on for some plain English translations of their arguments against the settlement.

Continue reading Decoding the GOP Argument Against Punishing Banks for Their Mortgage Crimes

Decoding the GOP Argument Against Punishing Banks for Their Mortgage Crimes originally appeared on DailyFinance on Fri, 11 Mar 2011 12:00:00.

Filed Under: Columns, Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co, Real Estate, Credit

Citigroup is the most-shorted stock on any major U.S. exchange. Its position at the top of the pack is due to the bank’s stock price and ongoing concern about its balance sheets and mortgage foreclosure practices.

Continue reading Citigroup: The Most-Shorted Stock in America

Citigroup: The Most-Shorted Stock in America originally appeared on DailyFinance on Thu, 10 Mar 2011 06:30:00.

Filed Under: JP Morgan Chase, Ford Motor Co, Bank of America, Citigroup, Credit

After a rough opening session on Monday, stocks rebounded sharply on Tuesday. The Dow enjoyed a triple-digit gain after oil prices eased and bank shares bounced higher on the possibility of further dividend payouts and share buybacks.

Continue reading Dow Jumps 124 Points as Oil Dips and Bank Stocks Rally

Dow Jumps 124 Points as Oil Dips and Bank Stocks Rally originally appeared on DailyFinance on Tue, 08 Mar 2011 16:15:00.

Filed Under: Energy, Economy, Investing, Earnings, JP Morgan Chase, Safeway, American Express, Bank of America, Stocks in the News, Market News