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This week, retailers in 40 states will be allowed to charge fees for the use of Visa or Mastercard credit cards. Know Your Card. While large chains may avoid the new surcharge, it could be up to 4%. This is part of a settlement reached last summer in an anti-trust lawsuit against Visa, Mastercard, JP Morgan Chase and Bank of America, among others. There are 10 states where surcharging is illegal, but in many of them merchants may offer a discount for using cash.
posted by the man of twists and turns on Jan 29, 2013 - 137 comments

The latest foreclosure horror: the zombie title

The Kellers are caught up in a little-known horror of the U.S. housing bust: the zombie title. Six years in, thousands of homeowners are finding themselves legally liable for houses they didn't know they still owned after banks decided it wasn't worth their while to complete foreclosures on them. With impunity, banks have been walking away from foreclosures much the way some homeowners walked away from their mortgages when the housing market first crashed.

[more inside]
posted by the man of twists and turns on Jan 11, 2013 - 36 comments

Just beating Bank of America, Consumerist readers have voted Electronic Arts the worst company in America
posted by Artw on Apr 4, 2012 - 96 comments

The Rolling Stone's Matt Taibbi uses a paper bag to illustrate exactly how the sub-prime mortgage scam worked, and how we're still on the hook for the next catastrophe. [more inside]
posted by clarknova on Mar 3, 2012 - 56 comments

We Will Survive Capitalism! flash mob with US Uncut [previously] and the Brass Liberation Orchestra
Previous BLO flash mobs include Bad Hotel [previously], Operation Hey Mackey [previously], and "PAY UP!" (demanding Bank of America pay their taxes). Speaking of BofA, in San Francisco on Thursday activists turned every Bank of America ATM in the city into an Automated Truth Machine, using special non-adhesive stickers designed to look exactly like BoA’s ATM interface. But instead of checking and savings accounts, these new menus offered a list of everything BoA customers’ money is being used for, including investment in coal-fired power plants, foreclosure on Americans’ homes, bankrolling of climate change, and paying for fat executive bonuses. [more inside]
posted by finite on Jan 15, 2012 - 42 comments

Bank of America agreed to pay $335 million to resolve allegations that Countrywide Financial engaged in widespread discrimination against African-American and Hispanic borrowers on home loans. The Department of Justice is calling this the largest settlement in history over fair residential lending practices. According to the DOJ’s complaint, Countrywide systematically charged more than 200,000 African-American and Hispanic borrowers higher fees and interest rates than white borrowers with similar credit profiles. [more inside]
posted by 2bucksplus on Dec 21, 2011 - 31 comments

Massachusetts AG Sues 5 Biggest Banks The first suit by a state attorney general to address the robosigning allegations of last fall, the suit may signal the failure of the talks among the 50 state attorney's general, federal regulators, and the big banks. (Previously). The most interesting aspects of the suit may be its allegations about mortgage modifications, however, which are new. (Attorney General's full complaint here.) [more inside]
posted by Diablevert on Dec 1, 2011 - 94 comments

"I live next door to a house owned by Bank of America, and they are the worst neighbors I’ve ever had. The previous owner, Mike, was a good guy; he occasionally had loud parties, but we were always invited and the food was great. Then he was killed on the job. He had been single and had no will, so his house swiftly defaulted to the lender. More than three years later, that house is still empty." An essay on trying to fight off suburban decay, and the changing face of the margins of American society.
posted by ardgedee on Nov 16, 2011 - 62 comments

TARP is winding down...bring on the lawsuits. Within the next week, the US government is set to sue a dozen banks for billions in losses caused by those banks' misrepresenting the risks of mortgage-backed securities. This is in addition to numerous State Attorneys General suing the banks for failing to reach an agreement in foreclosure abuses. Insurance giant AIG will also be suing BofA to recoup losses over the mortgage bonds. BofA had also agreed to a settlement of $8.5 billion to cover losses from soured mortgage debt issued through Countrywide. Deutsche Bank is suing WaMu. Goldman Sachs already settled with the SEC for $500 million for their fraud and have been sued by othersseeking to recover losses. [more inside]
posted by darkstar on Sep 1, 2011 - 56 comments

Homeowners foreclose on Bank of America. (Not an Onion story.) A Florida couple watches as their lawyer and sheriff's deputies foreclose on a Bank of America branch that had refused to pay the couple damages for wrongfully seizing their home.
posted by Kraftmatic Adjustable Cheese on Jun 3, 2011 - 59 comments

Bank of America has allegedly engaged in mortgage fraud, according to an Anonymous website. The first batch of leaked emails appear to show that bank employees were trying to hide documents from regulators. The emails are put into context on the website Seeking Alpha which explains that they refer to the use of force-placed insurance to increase mortgage servicers' profits through kickbacks from insurers - a practice which has just been forbidden under a settlement imposed by the US' states attorneys general. [more inside]
posted by Joe in Australia on Mar 15, 2011 - 93 comments

A proposal for U.S. defense contractors HBGary Federal, Palantir Technologies, and Berico Technologies to discredit Wikileaks which was pitched to Bank of America on December 3rd has been leaked. Assange had perviously stated that Wikileaks' next mega-leak will "expose an ecosystem of corruption" in a major American bank, which many believe to be Bank of America. [more inside]
posted by jeffburdges on Feb 10, 2011 - 218 comments

The Vigilant Citizen (Previously) presents an Analysis of the Occult Symbols Found on the Bank of America Murals
posted by griphus on Nov 23, 2010 - 103 comments

Somebody fed the hydra a hand grenade. The “robo-signer” scandal began September 20th when news broke that GMAC/Ally was suspending foreclosures in 23 states due to flawed affidavits submitted in foreclosure proceedings there. Since then, JP Morgan Chase, and Bank of America, and now possibly Littleton Loan Servicing (a subsidiary of Goldman Sachs) have admitted similar problems. With yesterday’s announcement by Bank of America that it will be suspending foreclosures in all 50 states (not just the ones where foreclosures go before a judge) all signs point to the fact that mere false affidavits are no longer the issue; other, more serious problems are now being uncovered, e.g. forged assignments and failure to serve papers. Up to 40 state’s attorney’s general are poised to announce a joint investigation. What does all this mean? Well…uh…can you actually prove you own your house? And can your bank? And can the investment bank who’s been collecting the payments from the bond they made out of your mortgage? If you can’t, you’re going to have a hell of a time selling it.* And so will all the banks.* Did I mention that bank-owned (REO/forclosures) sales are 25 percent of the housing market? [more inside]
posted by Diablevert on Oct 9, 2010 - 146 comments

"I Stopped Denying People." Former Bank of America employee Jackie Ramos appears on the Daily Show last night in a segment covering the sweeping credit card reform the went into effect last week.
posted by lunit on Mar 3, 2010 - 188 comments

One Bank. Snarks aside, the guy does have quite a lovely singing voice. (vimeo)
posted by hypocritical ross on Nov 8, 2006 - 17 comments

Post a great earnings quarter then cut jobs and send them to India. Nice job Bank of AMERICA
posted by Macboy on Oct 22, 2002 - 21 comments

Personal Rant: Nationsbank (now Bank Of America) sucks. More inside.
posted by baylink on May 5, 2000 - 31 comments