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Bank of America nixes $5 debit card fee

Bank of America Corp. is scrapping its plan to charge a $5 monthly debit card fee. The bank’s decision to drop the fee came after a roar of customer outrage in recent weeks over the fee. Other major banks, including JPMorgan Chase & Co. and Wells Fargo & Co., already canceled tests of similar debit… Continue Reading Bank of America nixes $5 debit card fee

Small biz upset about BofA debit card fees

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Small business owners across America are joining a campaign at change.org, demanding that Bank of America cancel its new $5 a month debit card fee. The online petition was created by a 22-year-old worker in Washington, D.C., who closed her account with the banking giant in protest of the fee. A growing number of small… Continue Reading Small biz upset about BofA debit card fees

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Bank of America website woes last into 6th day

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Bank of America’s website is having troubles for the sixth straight day, meaning customers may still have difficulty signing into their accounts. A message on the bank’s homepage Wednesday said that most of the site was working normally, but that customers may experience “occasional delays.” That means customers who do their banking online may have… Continue Reading Bank of America website woes last into 6th day

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BofA reports loss of $1.6 billion in 4Q

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Bank of America Friday reported a loss of $1.6 billion in the fourth quarter after its costs related to soured home loans increased. Bank of America Corp.’s loss available to shareholders after paying out dividends was 16 cents per share. Analysts surveyed by FactSet had forecast the bank would earn 18 cents a share. Excluding… Continue Reading BofA reports loss of $1.6 billion in 4Q

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BofA loses $7.7B after credit card reform

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Bank of America Corp. said Tuesday it lost $7.65 billion during the third quarter due to a charge related to credit and debit card reform legislation passed over the summer. The bank also announced a change in its consumer banking strategy to focus on providing customers with incentives to do more business with the bank… Continue Reading BofA loses $7.7B after credit card reform

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Bank of America plans to resume foreclosures on more than 100,000 homes in 23 states next week, saying Monday it has a legal right to seize them. Bank of America Corp., the country’s largest bank, began halting foreclosures on Oct. 2 amid questions of faulty paperwork. The company on Monday said it plans to resubmit… Continue Reading Bank of America plans to resume some foreclosures

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Karl Case, the co-creator of a widely watched housing market index, was upbeat three weeks ago. Mulling the economy while at a meeting at a resort near the Berkshires, Case thought the makings of a recovery were finally falling into place. “I’m a 60-40 optimist,” he said at the time. Today, Case’s mood is far… Continue Reading Foreclosures: Freeze could undermine housing market

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Hundreds, if not thousands, of Colorado homeowners who are behind on their home mortgage payments will get a borrowers’ time-out, thanks to Bank of America’s decision to freeze all foreclosure cases in its portfolio. And if other banks follow Bank of America’s lead, many more Coloradans could get the same breather. Exactly how many isn’t… Continue Reading Foreclosures: A reprieve for some Colo. homeowners

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BofA halts U.S. foreclosures for review

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Bank of America on Friday halted foreclosures on homes across the country so it could review paperwork in tens of thousands of cases for flaws, expanding a crisis at a perilous time for the housing market. The move came as PNC Financial Services became the fourth major bank to announce that it would stop foreclosures… Continue Reading BofA halts U.S. foreclosures for review

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BofA halts foreclosure sales in 50 states

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Potential flaws in foreclosure documents are threatening to throw the real estate industry into a full-blown crisis, as Bank of America on Friday became the first bank to stop sales of foreclosed homes in all 50 states. The move, along with another decision on foreclosures by PNC Financial Services Inc., adds to growing concerns that… Continue Reading BofA halts foreclosure sales in 50 states

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