New Escrow Product Adds to Company’s Local Transaction Services
Bank of America Merrill Lynch, a global provider of custody and agency
services, today announced that it has launched Cuenta Controlada
(Controlled Account) services in Mexico for Mexican pesos and U.S.
dollar transactions. The new offering is an important addition to the
suite of transaction services available to clients operating in Mexico.
Cuenta Controlada regulates the exchange of cash among multiple parties
based on agreed uponmore...
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...