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Tag Archives: bank of america corp

Post office nears historic default on $5B payment

WASHINGTON — The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem ...

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U.S. bank earnings rose this winter to 5-year high

WASHINGTON — U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years and the number of troubled banks fell for the fourth straight quarter. The mostly positive first-quarter earnings released ...

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Bank of America sells half of its China bank stake

NEW YORK — Bank of America Corp. is selling half of its stake in China Construction Bank Corp. to raise cash and shore up its capital base. The nation’s largest bank by assets said Monday it will sell 13.1 billion ...

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AIG sues Bank of America for $10B over mortgages

NEW YORK — More trouble piled up for Bank of America Corp. on Monday, as American International Group Inc. sued it for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The ...

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Bank of America misses estimates as income falls 39 percent

NEW YORK — Bank of America Corp.’s first-quarter income fell 39 percent on higher costs related to its mortgage business and higher litigation expenses. The bank also settled a claim over faulty mortgage investments and set aside less money to ...

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