My dad used to say, "The reason so many members of Congress and so many bankers are alive today is because it's illegal to shoot them." If you are depositing a check from the Bank of Iran, the Bank of Nigeria or the Bank of North Korea, I can understand "11 business days to clear." But you deposit a check from Monkey's Eyebrow, Ky. or Cuba, Kan. any morning of any day (except Saturday or Sunday), and it clears electronically at 2 p.m. that same day. If your bankster tells you differently, he/she is bloody dissembler.
I've recommended Bank of America's 7.25 percent convertible preferred stock a few times, when it traded between $675 and $775 several years ago, but I've never recommended the Bank of America (BAC-$12.45) common stock – though I did come dangerously close in late 2011, when the common traded at $5.
I am thinking of buying 2,000 shares of Bank of America at $12.45 a share. In the past 10 years, I have been in and out of this issue and have made good money each time. I believe that the stock can move to the $17 to $18 level this year, which could give me a good gain.
As 2012 draws to a close, it’s being considered a noteworthy year by those in Charlotte’s commercial real estate industry.
In the second quarter, Bank of America and Wells Fargo abandoned a combined 197,820 square feet of uptown office space, according to Karnes Research. The good news for tenants is that, according to industry officials, rents haven’t been impacted by the BofA and Wells Fargo vacancies.
Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners.
The government filed in federal court Monday a $25 billion settlement with the five largest mortgage lenders, putting an official stamp on the landmark agreement over alleged foreclosure abuses.
When the nation’s largest banks, including Bank of America and Wells Fargo, reached a $25 billion settlement with state attorneys general from 49 states this month, some saw it as a way to address the foreclosure crisis. But some say the most remarkable thing about the settlement might be the parts of the foreclosure crisis it ignored.
When Charlotte-based Bank of America confirmed this month that it's selling two of its Uptown skyscrapers, Hearst Tower and Fifth Third Center, it wasn’t surprising that it stirred speculation about the city’s future as a financial hub. But some say the sale could be a good thing for Charlotte.
Atlanta's tallest skyscraper has been taken back by its lender in a foreclosure auction. The Atlanta Journal-Constitution reports that the 1,023-foot Bank of America Plaza was auctioned Tuesday for a "credit bid" of $250 million.