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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…

Americans seethe as banks hit them with new fees

(Reuters) – Smoking outside a Bank of America branch in Chicago, restaurant worker Mike Dysangco complained about the “totally ridiculous” new banking fees. “The economy is not the greatest and they come up with these fees? Do you want our business or not?” asked the waiter who has an account…

Dozens of Obama 2008 Wall Street donors now support Romney

Many deep-pocketed backers of President Barack Obama’s 2008 campaign now have eyes for a different candidate, financial disclosure forms show. Sixty-seven Wall Street executives — and former Obama backers — have instead put their money behind former Masschusetts governor and Republican frontrunner Mitt Romney. The bankers, who live in New…

Bankers warn Obama, Congress of ‘very grave’ threat if debt limit not extended

The heads of Wall Street’s top banks on Thursday urged President Barack Obama and Congress to reach a deal on the debt ceiling, warning of “very grave” dangers if agreement is not reached. “We strongly urge you to reach an agreement this week,” the chief executives of Bank of America, Citigroup, Goldman Sachs,JPMorgan…

US banks to settle on financial crisis penalties: report

NEW YORK (AFP) – Several major US banks are close to an agreement with the Wall Street regulator to settle fraud allegations related to the “toxic” mortgages behind the 2008 financial crisis, a report said Friday. An initial agreement with the Securities and Exchange Commission (SEC) could be settled next…

Obama calls on business to do more to boost US

WASHINGTON (Reuters) – President Barack Obama called on U.S. businesses on Saturday to do more to boost the economy by hiring more workers and making investments. The government has an obligation to make the United States the best place to do business, by providing the best schools, incentives to innovate…

US homes lost to foreclosure drops 9 pct in Oct.

US home repossessions slow in October as lenders grapple with allegations of document flaws The number of U.S. homes repossessed by lenders last month fell by the sharpest margin this year, as several major lenders temporarily halted most or all of their foreclosures amid allegations thousands of foreclosures were handled…

Lawsuits: Banks foreclosed after deciding payments too small

Grocery store owners William and Esperanza Casco were making enough money to stay current on their mortgage, but when JPMorgan Chase & Co. offered a plan that reduced their payments, they figured they could use the extra cash and signed up. The Cascos say they never missed a subsequent payment,…

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