Bank Believes Consumer Relief Provision Has Been Exceeded; Continues Outreach to Offer Assistance to Remaining Eligible Customers
Less than a year after beginning implementation of principal reduction
and other consumer relief programs under the National Mortgage
Settlement (NMS), Bank of America completed and approved assistance to
about 320,000 customers totaling $29.2 billion in aggregate relief
across all settlement programs through March 31. Nearly 46,500
additional homeowners who are making timely payments on loan balances
that exceed the current value of themore...
Long-term Care Costs and Financial Support for Extended Family Are Unseen Risks to Wealth
Trust 2013 Insights on Wealth and Worth found that family
health has emerged as the new risk to family wealth. Long-term care and
out-of-pocket healthcare costs, combined with financial support for
extended family, are weighing heavily on families, particularly women
and younger generations, yet are risks to wealth that are not well
reflected in financial planning.
U.S. Trust today published findings of a survey of 711 highmore...
Bank of America Corporation today announced an underwritten public
offering of depositary shares, each representing a 1/25th
interest in a share of its Non-Cumulative Perpetual Preferred Stock,
Series U, with a liquidation preference of $25,000 per share (equivalent
to $1,000 per depositary share). BofA Merrill Lynch will serve as sole
book-running manager for the offering.
Bank of America intends to use any net proceeds it receivesmore...