Bank of America Corp., the second- largest U.S. lender, is cutting about 1,300 more jobs in its mortgage division as the firm adjusts to lower demand, said two people with direct knowledge of the plans.
The largest U.S. mortgage servicers, including Citigroup Inc. and Bank of America Corp., are almost finished paying $25 billion in relief to borrowers under a national legal settlement over botched foreclosures, the court- appointed monitor said.
The U.S. Securities and Exchange Commission plans to unveil a public website next week that will allow it to publish data, research and analysis using the type of robust market data exploited by high-frequency trading firms.
Bank of America Corp. , the biggest U.S. bank by assets and deposits, delayed foreclosures after a federal regulator called for a review because lenders may have submitted defective documents when repossessing homes.
Bank of America Corp., JPMorgan Chase & Co. and three other U.S. banks reached a $25 billion settlement with 49 states and the U.S. government to end a probe of abusive foreclosure practices stemming from the collapse of the housing bubble.