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Bank of America Corp. (BAC) will offer clients with at least $20,000 in deposits and/or investments at the bank certain perks previously available only to wealthier customers.
June 23 -
Bank of America (BAC) has agreed to sell 17 branches in North Carolina and Virginia with a total of $944 million in deposits to First Community Bank in Bluefield, Va., and HomeTrust Bancshares (HTBI) in Asheville, N.C.
June 10 -
B of A caught observers off guard by announcing $6 billion in mortgage litigation expenses, but the move is an attempt to convince analysts and investors that there is an end in sight to its crisis-era legal woes. It just might work.
April 16 -
First Horizon National (FHN) in Memphis, Tenn., has agreed to buy 13 branches from Bank of America (BAC).
May 28
Bank of America (BAC) plans to lay off 540 more mortgage employees in Charlotte, N.C.
Workers in the legacy asset servicing division were informed of the latest cuts Wednesday. Nearly two-thirds of the division's workers in the Charlotte area are affected. The jobs will be eliminated in late August, B of A said in a fact sheet for the media.
The division was created in February 2011 to handle 1.4 million home loans in default, many of them subprime loans originated by Countrywide, the home lender B of A purchased in 2008. The division initiates foreclosure proceedings and deals with investors who want to buy back troubled mortgages.
Bank of America is said to have had 26,400 employees in the division as of the first quarter. At its peak, there were 59,000 workers and contractors.
Banks such as JPMorgan Chase (JPM), Citigroup (C), Wells Fargo (WFC), SunTrust (STI) Fifth Third Bancorp (FITB) and B of A have been eliminating thousands of mortgage-related jobs since refinancing and other mortgage business began cooling last year.
"We're going to continue to help everybody that's impacted [by the Charlotte layoff] make a positive transition, whether it's in this company or if it's outside of this company," Charles Bowman, the president of B of A's Charlotte market, told The Charlotte Observer, which
There is an immediate opportunity for 150 of the affected Charlotte employees to get assigned to another division of the bank in Charlotte, the B of A fact sheet said. Furthermore, the bank has 250 open positions locally.
A year ago Bank of America
