Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Bank of America Corp    BAC

Delayed Quote. Delayed  - 07/29 07:46:41 pm
14.55 USD   -0.89%
07:10a BANK OF AMERICA : MBTA readies handoff of money room
01:03a BANK OF AMERICA : Property transfers, July 28
12:05a BANK OF AMERICA : Customers Concerned About Bank of America Branch C..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Bank of America Corp : NY to sue Wells Fargo, strike deal with Bank of America over mortgages: sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/02/2013 | 03:58am CEST

The New York Attorney General plans to sue Wells Fargo & Co on Wednesday over failures to comply with the terms of the $26 billion national mortgage settlement, according to a person familiar with matter.

At the same time, Bank of America Corp confirmed it had separately struck an agreement with New York Attorney General Eric Schneiderman over similar types of alleged compliance problems.

Separately, a committee of 14 other states and federal authorities monitoring the settlement are expected to announce agreements with both Bank of America and Wells Fargo to address similar compliance concerns over loan modifications and other issues, people familiar with the matter told Reuters.

Those agreements seek to address complaints from borrowers that banks had not met the terms of the national settlement.

Vickee Adams, a spokeswoman for Wells Fargo, said the bank had not been served a copy of the lawsuit.

She added that the bank believed a "collaborative approach - not protracted litigation or continued threats - offers the best path toward continuing to improve services to borrowers."

Dan Frahm, a spokesman for Bank of America, said: "We're pleased to resolve without litigation the matters brought forward by the New York Attorney General related to loan modifications and other assistance mortgage servicers provide."

He added that the agreement would require the bank to bolster its interactions with the New York Attorney General and home owner advocates.

The two pending actions by Schneiderman come several months after he said he had evidence to suggest the banks had violated the terms of the settlement, which is designed to end mortgage services abuses.

Last year, the country's top banks agreed to provide $26 billion in fines and relief to struggling homeowners.

Schneiderman has claimed his office has documented hundreds of potential violations over the timely processing of mortgage modification applications.

(Reporting by Karen Freifeld; additional reporting to Peter Rudegeair in New York; Writing by Sarah N. Lynch in Washington; Editing by Stephen Coates)

By Karen Freifeld

Stocks treated in this article : Bank of America Corp, Wells Fargo & Co
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BANK OF AMERICA CORP
07:10a BANK OF AMERICA : MBTA readies handoff of money room
01:03a BANK OF AMERICA : Property transfers, July 28
12:05a BANK OF AMERICA : Customers Concerned About Bank of America Branch Closure
07/28 BANK OF AMERICA : Museum & Science Center joins Bank of America Museums on Us Pr..
07/28 BANK OF AMERICA : 4S Ranch teen picked for national leadership program
07/28 BANK OF AMERICA : Patent Issued for Providing Authentication Using Previously-Va..
07/28 BANK OF AMERICA : Continues Investment in Mobile With Redesigned App
07/28 BANK OF AMERICA : Man arrested in F.V. bank robbery, bomb scare
07/27 BANK OF AMERICA : Increases Quarterly Common Stock Dividend 50 Percent
07/27 BANK OF AMERICA : Questions for Candidates - Graham County Supervisor Dist. 1
More news
Sector news : Banks - NEC
07:15p CITIGROUP : Citi's U.S. economic index posts biggest drop since Feb. 2014
04:36pDJBARCLAYS : U.S. Consumer Sentiment Fell in July
04:26pDJBANCO POPULAR ESPANOL : Españ ol Fires Chief Executive
03:17p BARCLAYS : shares jump as transatlantic refocus starts to pay off
02:38pDJICICI BANK : Correction to ICICI Bank Earnings Article
More sector news : Banks - NEC
News from SeekingAlpha
07/28 DEUTSCHE : BofA a better bet than JPMorgan
07/27 Laggards Among Leaders
07/27 OPPENHEIMER : Bank stock hatred hits new highs
07/26 CITI : Breaking Up The Tradition
07/26 How To Profit From A (Junk) Bond Crisis
Advertisement
Financials ($)
Sales 2016 81 648 M
EBIT 2016 26 216 M
Net income 2016 13 741 M
Debt 2016 -
Yield 2016 1,72%
P/E ratio 2016 11,71
P/E ratio 2017 9,61
Capi. / Sales 2016 1,85x
Capi. / Sales 2017 1,76x
Capitalization 150 792 M
More Financials
Chart BANK OF AMERICA CORP
Duration : Period :
Bank of America Corp Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Full-screen chart
Technical analysis trends BANK OF AMERICA CORP
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 17,2 $
Spread / Average Target 17%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Chief Operations & Technology Officer
Thomas Kell Montag Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BANK OF AMERICA CORP-12.77%150 792
WELLS FARGO & CO-11.46%244 358
JPMORGAN CHASE & CO.-2.92%234 392
INDUSTRIAL AND COML BA..-5.90%223 651
CHINA CONSTRUCTION BAN..-12.63%171 054
BANK OF CHINA LIMITED-16.71%145 931
More Results