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Bank of America has formed a partnership with the United States Department of Defense creating a newly chartered bank DOD Community Bank [106] ("Community Bank") providing full banking services to military personnel at 68 branches and ATM locations [107] on U.S. military installations in Guantanamo Bay Naval Base Cuba, Diego Garcia, Germany ...
Everyone knows that Bank of America has nearly buckled under the weight of costs from litigation and extrajudicial settlements over the last few years, the majority of which relate to its ill ...
Shares of the nation's second largest bank by assets, Bank of America , are trading higher today after the lending giant came to an agreement with the federal regulator of credit unions. Under the ...
According to the Charlotte-based bank's annual financial filing with the Securities and Exchange Commission, the extent of estimated future losses stemming from litigation is at an all-time high ...
BofA Securities, Inc., [1] previously Bank of America Merrill Lynch (BAML), is an American multinational investment banking division under the auspices of Bank of America. It is not to be confused with Merrill , the stock brokerage and trading platform subsidiary of Bank of America.
For example, a national bank generally must limit its total outstanding loans and credits to any single borrower to no more than 15% of the bank's total capital and surplus. [ 15 ] [ full citation needed ] Some state banking regulations also contain similar lending limits applicable to state-chartered banks. [ 16 ]
This is the fifth and final article in a series on Bank of America's legal problems since the financial crisis. Links to the rest of the series are at the bottom of this article.
The filing was an attempt to recover losses endured when Bank of America's share price fell after the transaction. The damages were sought from Bank of America, individual executives, the bank's board of directors, including any insurers that cover directors' legal liabilities. [90]