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Bank of America (BAC) said talks will continue with bondholders who are demanding it buy back securities backed by billions of dollars of bad mortgages.

Bank of America has been in talks with investors including Pacific Investment Management Co (Pimco), BlackRock Inc (BLK) and the Federal Reserve Bank of New York over $47 billion of mortgage bonds, Bloomberg News reported.

Some of these investors…

Continue reading Investors Extend Talks With Bank of America Over Mortgage Bonds

Investors Extend Talks With Bank of America Over Mortgage Bonds originally appeared on DailyFinance on Thu, 16 Dec 2010 07:51:00.

Filed Under: Company News, Investing, Fannie Mae, Bank of America, Real Estate, Freddie Mac, Credit

The Federal Deposit Insurance Corp sued 11 former executives and directors of a failed bank as it works to recover as much as $2 billion suffered by one of its funds during the financial crisis.

The FDIC filed the lawsuit in the U.S. District Court of Chicago, Reuters reported. It accuses former officials of Heritage Community Bank of negligence, gross negligence and breach of fiduciary duty….

Continue reading FDIC Sues Former Directors of Failed Illinois Bank

FDIC Sues Former Directors of Failed Illinois Bank originally appeared on DailyFinance on Tue, 02 Nov 2010 07:50:00.

Filed Under: Real Estate, Credit, Small Business

Bank of America (BAC) may introduce a tiered fee structure modeled on mobile phone service contracts.

Under the proposed scheme, the bank would reward customers who maintain minimum current account balances, use their credit card a certain number of times each month, or do all their banking online, The Financial Times reported. Customers who don’t do these things would be charged more.

Continue reading Bank of America Considers Tiered Fee Structure

Bank of America Considers Tiered Fee Structure originally appeared on DailyFinance on Mon, 20 Sep 2010 07:36:00.

Filed Under: Company News, Economy, Bank of America, Credit, Retail

“It felt like the world was on fire,” recalls financial writer Andrew Ross Sorkin, whose book Too Big To Fail covers the crisis at its peak. In an interview, he discusses the meltdown, its aftermath, the quest for power on Wall Street and why more regulation is still needed.

Continue reading Andrew Ross Sorkin on Lehman, the Crisis and How Pride Led to the Fall

Andrew Ross Sorkin on Lehman, the Crisis and How Pride Led to the Fall originally appeared on DailyFinance on Mon, 13 Sep 2010 11:00:00.

Filed Under: Economy, People, Investing, JP Morgan Chase, Citigroup, Credit