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Paying taxes today? Bank of America, Morgan Stanley, and others got a refund last year

Six of the most profitable companies in the U.S. were due a tax refund last year, according to a new analysis. WalletHub reported Tuesday that Abbott Laboratories, Morgan Stanley, Bank of America, AIG, Bristol-Myers, and Verizon – all listed on the S&P 100 – paid an overall negative tax rate…

Bank of America pays Freddie Mac $404 million over subprime loans

Bank of America said on Monday it will pay mortgage financier Freddie Mac $404 million to resolve claims over subprime loans the bank sold before the housing crisis. Bank of America said the agreement would resolve all of Freddie’s remaining claims over more than 700,000 mortgage loans the bank’s Countrywide…

Bank of America’s subprime lender Countrywide found guilty of mortgage fraud

A federal jury Wednesday concluded that Bank of America defrauded mortgage finance firms Fannie Mae and Freddie Mac with a lending program that fast-tracked mortgages ahead of the housing bust. The jury’s ruling sets Bank of America on course for a federal civil penalty to be determined by US District…

Thirteen alleged members of Anonymous indicted on hacking charges

Thirteen alleged members of the loosely organized hacker collective known as Anonymous were indicted Thursday in connection with a series of online attacks on US companies and trade groups. The indictment unsealed in Alexandria, Virginia, charged the 13 with attacks between September 2010 and January 2011 on the Motion Picture…

Bank of America to cut 2,100 jobs

Bank of America said Monday it would cut 2,100 jobs from its home mortgage unit as a key driver of the business, refinancing, has slowed down with higher interest rates. Dan Frahm, a spokesman of the country’s second largest bank, also explained that it needs less staff than in the…

Bank of America lied to homeowners and rewarded foreclosures, former employees say

Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees. The employee statements were filed late last week in federal court in Boston as part of a…

Google blacklists Bank of America parody website

Update: Shortly after this report was published, Google removed YourBofA.com from its “phishing scams” blacklist Search giant Google blacklisted on Wednesday a website made to look like an outreach campaign by Bank of America, in what turned out to be an activist’s effort to get people talking about how the…

‘Occupy’ protesters fight for D.C. resident to stay in her home

“Occupy D.C.” protesters may have been evicted from their encampment earlier this month, but protestors are still finding ways to make an impact, helping one city resident stay in her home Monday evening. According to The Washington Post, around 50 protesters rallied outside the office of government mortgage giant Freddie…

New York sues banks over fraudulent foreclosures

The state of New York sued major US banks on Friday for fraudulently foreclosing on thousands of homeowners in the state in the wake of the nationwide housing crash. The state is suing JPMorgan Chase, Bank of America and Wells Fargo, along with Virginia-based MERSCORP, which it called a “shell…

Senior citizens shut down Bank of America branch in Calif.

A group of senior citizen activists calling themselves “Wild Old Women” staged a protest at a San Francisco Bank of America branch this week and succeeded in causing the business to close its doors, albeit temporarily. The Bank of America in Bernal Heights, a district of San Francisco, was confronted…

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