By Scott Baughman
Published: June 10,2011
Hold onto your wallet. It might be an antique in a few years. The world of online banking is not new, but now three of the industry’s biggest players, including Charlotte-based Bank of America, have joined forces to make money transfers happen more easily for their customers. Bank of America has teamed up with archrivals [...]
By Mecklenburg Times staff reports
Published: June 3,2011
Bank of America said it has completed the sale of Balboa Insurance Co. to QBE Insurance Group. The companies announced the sale agreement in February. Balboa Insurance was acquired by Countrywide Financial Corp. in 1999. Bank of America acquired Countrywide in 2008.
By Mecklenburg Times staff reports
Published: June 2,2011
Bank of America and Wells Fargo could see their debt ratings lowered by a major rating agency. Moody’s Investors Service said it might downgrade the ratings of the two corporations, as well as Citigroup, citing concerns that the U.S. government might not continue to support large banks to the extent that is has been in [...]
By Tara Ramsey, staff writer
Published: May 25,2011
Thirty acres of vacant land in Charlotte was sold Monday in a foreclosure auction for $6.96 million. Bryant Park LLC owned the property in Bryant Park near Berryhill Road, Fleetwood Drive and Evergreen Drive just off Freedom Drive. The lender was Charlotte-based Bank of America, which also was the highest bidder in the foreclosure auction. The [...]
By Scott Baughman
Published: May 25,2011
Three of the nation’s biggest banks — Bank of America, JPMorgan Chase and Wells Fargo — have teamed up to start a Charlotte-based joint venture to allow customers to pay for goods and services using only an email address or mobile phone number. The joint venture is called clearXchange. The technology is nothing new; Companies [...]
By Scott Baughman
Published: May 24,2011
Bank of America has tentatively agreed to a $410 million overdraft fee lawsuit settlement, according to court documents released Monday. The lawsuit was filed as a class action against some U.S. banks, but the Charlotte-based banking titan is the first to agree to the settlement. Florida District Court Judge James Lawrence King scheduled final approval for Nov. [...]
By Scott Baughman
Published: May 20,2011
Cell phones were once clunky bricks carried by only a privileged few. Today, millions use the seemingly ubiquitous devices for instant communication and more than ever for banking. But with the introduction of new technology, the way of banking is fundamentally changing. And that means job cuts and branches closing. Just this month, Bank of [...]
By Mecklenburg Times staff reports
Published: May 19,2011
A former Bank of America computer programmer was sentenced today to two years in prison for stealing almost $285,000 from company ATMs during seven months in 2009. Prosecutors say Rodney Reed Caverly, 54, used a special computer code to withdraw the money without leaving any record. According to The Associated Press, Caverly will have to repay more than [...]
By Mecklenburg Times staff reports
Published: May 19,2011
Bank of America has chosen David Reilly as the company’s shared technology infrastructure executive. His responsibilities will include designing, building and operating the Charlotte-based company’s enterprise technology infrastructure and operations. Reilly, who will be based in New York, will also become the chief technology officer of global wealth and investment management. Reilly joins the company [...]
By Mecklenburg Times staff reports
Published: May 18,2011
Bank of America said today that it wants to reduce its greenhouse gas emissions by 15 percent from 2011 to 2015 by using less energy, a goal the Charlotte-based company described as ambitious. Bank of America said the plan involves its operations in more than 40 countries. “Reducing our emissions not only lessens the environmental impact [...]
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