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.
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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.
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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…
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.
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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 bu…