Archive for August, 2009
Bank of America To Pay $33 Million Penalty Over Merrill Lynch Bonuses.
Bank of America announced Monday that it has agreed to pay a $33 million fine to settle charges brought on by the Securities and Exchange Commission. The complaint was in regard to its disclosure of Merrill Lynch bonuses paid to executives when trying to get shareholder approval to purchase the investment bank. Bank of America reached [...]
Federal Agents Raid Florida Bank
In what appears to be a suspicious move by the office of Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, federal agents swarmed two Florida banks Monday after a deal last week that didn’t work out, where one of them to receive taxpayer bailout funds. After the quarterly financial results came [...]
Five More U.S. Banks Shut Down by Regulators
Along with First BankAmericano in Elizabeth, N.J, which American Banking News reported on over the weekend, four more banks were closed late on Friday to close out a rugged July for the industry, bringing the total bank closings for July to 24; the most since this banking crisis began. Now for the year, a total [...]
House Passes Bill Too Limit Wall Street Compensation, Give Shareholders Say
The U.S. House of Representatives passed a bill on Friday that will give regulators additional power to limit compensation of banking and financial institution executives. The move comes in an effort to minimize the incentives for bankers and traders to take excessive risks in the chase of massive profits. The executive compensation bill, mainly backed by [...]
Finding High Yield Savings Accounts Through Bankrate
There’s no reason to settle for a tiny interest rate with your savings account, when with a couple of clicks of your computer mouse you can find you the best rates available out there that are insured by the FDIC through bankrate.com. All you have to do to do this is to go to [...]
New Jersey Bank Forced to Close by Regulators
For the second time a New Jersey bank was forced to shutter its doors, as State and federal regulators closed First BankAmericano, a small community bank based in Elizabeth. The other New Jersey bank shut down was Citizens Community bank, which only consisted of a single branch in Ridgewood. First BankAmericano was a 12-year-old institution [...]
Three More Bank of America Directors Exit
Since April, 10 board members of Bank of America Corp. has left the company, bringing the existing number of directors to 13 members. All of this comes from accepting $45 billion in taxpayer aid. The latest board members to leave include William Barnet III, Gary Countryman and John T. Collins. While the reasons for the [...]
worst video player ever- after over2:00 there's still no video appearing 