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Mass. AG hits big banks with foreclosure lawsuit

(Reuters) – The Massachusetts attorney general has filed a lawsuit against five large U.S. banks accusing them of deceptive foreclosure practices, such as robo-signing. Attorney General Martha Coakley said on Thursday the lawsuit was filed in state court inBoston against Bank of America Corp, JPMorgan Chase & Co Inc, Citigroup Inc, Wells Fargo & Co and Ally Financial.…

Bank of America revamping debit card fees

(Reuters) – Bank of America Corp, after receiving heavy public criticism for a planned $5-per-month debit card fee, is likely to give customers more ways to avoid the fee, a person familiar with the bank’s plans said Friday. The second-biggest U.S. bank is reworking its plans as rivals Wells Fargo…

BofA plans 30,000 job cuts; investors underwhelmed

(Reuters) – Bank of America Corp said it is cutting 30,000 jobs in the coming years as it looks to slash annual expenses by $5 billion, but investors were disappointed in the scant new detail the bank provided about its plans. The bank’s chief executive,Brian Moynihan, said Bank of America…

Bank of America discussing up to 40,000 job cuts: report

BANGALORE (Reuters) – Bank of America Corp officials have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal said, citing people familiar with the plans. The number of job cuts are not final and could change. The restructuring aims to reduce the bank’s…

Bank of America kept AIG’s legal threat under wraps for months

NEW YORK (Reuters) – Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter. Bank of America shares fell more than 20…

Bank of America to sell China bank stake for $8.3 billion

CHARLOTTE, N.C./HONG KONG (Reuters) – Bank of America Corp is selling about half its stake in China Construction Bank for $8.3 billion, in its latest effort to shed assets and boost capital. A group of investors is buying 13.1 billion CCB shares from Bank of America, with the deal expected to close…

Hacker group will release Bank of America emails Monday

CHARLOTTE, North Carolina (Reuters) – Anonymous, a hacker group sympathetic toWikiLeaks, plans to release e-mails obtained from Bank of America Corp early Monday morning, according to posts on the group’s Twitter feed. The group, unrelated to the document leak website founded by Julian Assange, said it plans to release documents exposing “corruption and fraud” at…

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