Sources: BBC
Berkshire Hathaway Inc has become the largest shareholder of Bank of America by exercising its right to acquire 700 million shares at a steep discount, more than tripling an investment it made six years ago. Bank of America on Tuesday announced the exercise of the warrants, which gave Berkshire, controlled by Warren Buffett, the right to buy the bank’s shares for about $7.14 each. Bank of America shares closed down 14 cents at $23.58 on the same day. 2017-08-29
A number of analysts, including Ralf Preusser from Bank of America and Ric Deverell from Credit Suisse, believe that the United Kingdom economy is heading into a recession. 2016-06-27
A New York state appellate court in Manhattan rules to approve in its entirety the 2011 settlement by Bank of America with 22 institutional investors including BlackRock Inc, MetLife Inc, and Allianz SE's Pacific Investment Management Co to resolve claims over $174 billion of mortgage securities issued by the former Countrywide Financial Corp. in a $8.5 billion settlement. 2015-03-5
Bank of America agrees to pay $727 million to customers as restitution for deceptive marketing practices and unfair billing. An additional $45 million will be paid as fines to government regulatory groups. 2014-04-9
Bank of America agrees to pay US$1.6 billion to insurer MBIA to settle a long-running dispute between MBIA and two companies Bank of America had since acquired. 2013-05-6
For $8.5 billion, ten banks settle to stop mortgage foreclosure process audits. The United States government regulators had been engaged in a loan-by-loan review of home loan practices during the Great Recession. Bank of America, Citigroup Inc, JPMorgan Chase & Co, Wells Fargo & Co, MetLife Bank, Aurora Bank FSB, PNC Financial Services Group Inc, Sovereign Bank NA, SunTrust Banks Inc, and U.S. Bancorp settle with regulators to pay out cash up to $125,000 to homeowners whose homes were being foreclosed when the paperwork problems emerged. Further, Bank of America agrees to pay $11.6 billion to government mortgage finance company Fannie Mae. 2013-01-7
Moody's downgrades the credit rating of 15 major world banks: UK (The Royal Bank of Scotland, Barclays and HSBC), US (Bank of America, Citigroup, Goldman Sachs and JPMorgan), Rest of world (Credit Suisse, UBS, BNP Paribas, Crédit Agricole, Société Générale, Deutsche Bank, Royal Bank of Canada and Morgan Stanley). 2012-06-21
Internet retailer Overstock.com has amended its complaint in a long-standing lawsuit against Goldman Sachs and Merrill Lynch to demand treble damages under New Jersey's racketeering statute. Merrill Lynch is a subsidiary of Bank of America. 2011-01-27
Bank of America bans Wikileaks payments as a result of news of an upcoming release of information on banks in the United States that could leave an impact. 2010-12-18
A United States bankruptcy judge orders Bank of America to return $500 million it seized from the bank accounts of the defunct Lehman Brothers trading firm a few weeks before Lehman declared bankruptcy in 2008. 2010-11-17