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BofA reports first quarterly loss since 2011 on lofty legal bill
7:49am EDT. (Reuters) - Bank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No.
BofA Slides After Posting Loss Tied to Mortgage Accords  Bloomberg
Bank of America in Settlement Talks Over Mortgage Securities  Wall Street Journal
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Bank of America's mortgage crisis costs become a recurring problem
(Reuters) - Bank of America Corp's (BAC.N) mortgage pain is lasting longer than expected, leading some investors to wonder if the massive expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time ...
BofA's stock swing following results explained: Pro
The latest earnings report from Bank of America is the new definition of the word "noisy." That's how one leading analyst described the numbers, which seemed open to wide interpretation because of billions of dollars in litigation charges.
Mortgage-related legal costs sock BofA with $276-million loss
The results included $6 billion in litigation expense, much of it related to toxic bonds backed by housing-boom mortgages from Countrywide Financial Corp., the aggressive Calabasas lender that nearly collapsed before being acquired by Bank of America ...
Bank of America Swings to Loss on Legal Charge, Lower Mortgage Originations
When Bank of America and Justice Department officials met in March, the government's lead negotiator, Associate Attorney General Tony West, suggested a settlement figure that was billions of dollars above the $2.4 billion in legal charges the company ...
Bank of America shares drop on Q1 loss
Bank of America swung to a $276 million first-quarter loss Wednesday as revenue declined while the bank continued to grapple with legal costs stemming from the financial crisis.
Bank of America Corp Reports Quarterly Loss Thanks to $6 Billion Legal Expense
Bank of America (NYSE: BAC ) announced this morning that it recorded a loss of $276 million, or $0.05 per share, in the first quarter of 2014 as a result of $6 billion in litigation expenses related to its settlement with the Federal Housing Finance ...
BofA Reaches $950 Million Deal on FGIC-Backed Bonds
Bank of America Corp. is paying $950 million to settle claims that its Countrywide unit pooled faulty mortgages into securities that helped hobble Financial Guaranty Insurance Co.
FGIC Announces Settlement with Bank of America  MarketWatch
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Bank Of America Is Not A Solid Investment For New Money, And Litigations ...
For the first quarter of 2013, BofA reported net income of $1.5 billion. The results for the first quarter include $6 billion in litigation expenses related to a major settlement the Federal Housing Finance Agency (FHFA) over legacy securities claims ...
Exclusive: Bank of America in talks with US on probe of Merrill - sources  Reuters UK
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Bank Of America: Now Is The Perfect Time To Buy
... bank since 2011. On the brighter side, the bank reported the best Fixed Income Clearing Corporation results seen so far out of all the banks, rapidly declining legacy asset servicing expenses, stable net interest margins, and strong capital and ...