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Sovereign Bank N.A., a unit of Banco Santander S.A., has increased its existing fees on checking account customers and added entirely new fees, the latest in a handful of local and national banks to do so, reported the Boston Globe.
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By PBN Staff
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Webster Financial Corp., parent company of Webster Bank, reported a 20.2 percent gain in fourth-quarter profit to $48.5 million.
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By PBN Staff
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Bank of America Corp. reported profit dropped 63 percent as revenue shrank and costs mounted from faulty foreclosures and flawed home loans.
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By Hugh Son |
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Bank of America Corp. yesterday struck deals to settle lending complaints, sell rights to service $300 billion of mortgages and repair relations with regulators. For CEO Brian T. Moynihan, it offers his best chance to rebuild the home lending business.
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By Heather Perlberg and Hugh Son |
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Ten of the largest U.S. mortgage servicers will pay a combined $8.5 billion under an agreement that will end case-by-case reviews of foreclosure-abuse claims stemming from a 2011 deal with regulators
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By Jesse Hamilton |
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Bank of America Corp., the second-biggest U.S. lender by assets, agreed to pay Fannie Mae $3.6 billion to resolve home-loan repurchase claims.
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By Zachary Tracer |
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As part of a renewed focus on the Michigan area, Flagstar Bancorp Inc. has entered into a definitive agreement with a wholly-owned subsidiary of CIT Bank for CIT to acquire $1.264 billion in commercial loan commitments from Flagstar.
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By PBN Staff
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Bank of America Corp.’s brokerage and JPMorgan Chase & Co.’s asset-management division are among businesses ripe for divestiture if U.S. banks break up to improve stock prices, according to CLSA Ltd.’s Mike Mayo.
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By Laura Marcinek and Donal Griffin |
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Bank of America Corp. has detailed plans to close four additional branches in Massachusetts, reported the Boston Globe.
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By PBN Staff
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Bank of America Corp. CEO Brian T. Moynihan blocked a proposal to cut the main component of most brokers’ pay for 2013, said a person with direct knowledge of the matter.
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By Hugh Son |