Banks, Bank Of America | featured news

Anonymous, a hacker group sympathetic to WikiLeaks, plans to release e-mails obtained from Bank of America Corp early Monday morning, according to posts on the group's Twitter feed.

Bank of America reported Friday that it had a $1.2 billion loss in the fourth quarter of last year, including a previously announced charge of $2 billion reflecting a decline in the value of its home loans and insurance business.

In a ruling that may affect foreclosures nationwide, the Massachusetts high court has voided the seizure of two homes by Wells Fargo & Company and US Bancorp after the banks failed to show that they held the mortgages at the time of the foreclosures.

Since WikiLeaks threatened to “take down” a major American bank, officials at Bank of America have been hunting for any sign that its systems have been compromised.

Bank of America Corp. has joined several other financial institutions in refusing to handle payments for WikiLeaks.

WikiLeaks has several gigabytes of data from a Bank of America Corp executive's hard drive, the organization's founder Julian Assange said in a published interview in 2009.

A group of investors in bankrupt Tribune Co sued JPMorgan, Merrill Lynch, Citicorp and Bank of America, claiming the banks arranged $3.7 billion in loans in 2007 they knew the company could never repay.

Bank of America Corp. said Tuesday it lost $7.65 billion during the third quarter due to a charge related to credit and debit card reform legislation passed over the summer.

The bank, which is often considered a bellwether, said that it had clawed back to profitability in the first quarter, after two consecutive periods of losses.

Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards. It's a step that may become a common move ahead of new regulations limiting overdraft fees....