Larry Dirita News
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Bank of America Corp. Chief Executive Officer Brian T. Moynihan has summoned more than 100 of his regional leaders to a private meeting today where they’ll be pushed to boost the lender’s flagging revenue, said two people with direct knowledge of the project.
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Brian Moynihan was impatient. It was August 2011, and the Bank of America Corp. chief executive officer was reviewing plans to impose a $5 monthly fee on debit- card users.
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Dominique Strauss-Kahn, the former International Monetary Fund chief criminally charged with sexually assaulting a hotel housekeeper, was sued by the woman for what her lawyer called “violent and deplorable acts.”
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Bank of America Corp., the lender burdened by its Countrywide Financial Corp. takeover, would consider putting the unit into bankruptcy if litigation losses threaten to cripple the parent, said four people with knowledge of the firm’s strategy.
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American International Group Inc., the bailed-out insurer, sued Bank of America Corp. over $10 billion in losses on mortgage-bond investments.
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American International Group Inc., the bailed-out insurer, sued Bank of America Corp. over $10 billion in losses on mortgage-bond investments, saying it was the victim of a “massive fraud.”
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Bank of America Corp. Chief Executive Officer Brian T. Moynihan said his firm should overtake JPMorgan Chase & Co. in direct-to-consumer mortgage lending in the next six months, according to the Financial Times.
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Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. were among the 17 lenders sued by the Federal Housing Finance Agency for allegedly misleading Fannie Mae and Freddie Mac about billions of dollars of residential mortgage-backed securities.
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Bank of America Corp., the lender burdened by its Countrywide Financial Corp. takeover, would consider putting the unit into bankruptcy if litigation losses threaten to cripple the parent, said four people with knowledge of the firm’s strategy.
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Bank of America Corp., the biggest U.S. lender by assets, will eliminate 30,000 jobs in the next few years as part of Chief Executive Officer Brian T. Moynihan’s plan to bolster profit and the company’s stock.
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