Key Developments: Bank of America Corp (BAC.N)
12.96USD
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$0.03 (+0.23%)
$12.93
$12.94
$13.10
$12.93
4,890,721
20,212,364
$13.99
$6.90
Latest Key Developments (Source: Significant Developments)
Bank of America Corp Declares Quarterly Dividends
Bank of America Corp announced the Board of Directors has authorized dividends on preferred stock. A quarterly cash dividend of $0.18750 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 1, is payable on August 28, 2013 to shareholders of record as of August 15, 2013. A quarterly cash dividend of $0.19167 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 2, is payable on August 28, 2013 to shareholders of record as of August 15, 2013. A quarterly cash dividend of $0.3984375 per depositary share on the 6.375% Non-Cumulative Preferred Stock, Series 3, is payable on August 28, 2013 to shareholders of record as of August 15, 2013. A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 4, is payable on August 28, 2013 to shareholders of record as of August 15, 2013. A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 5, is payable on August 21, 2013 to shareholders of record as of August 1, 2013. Full Article
Bank of America Corp Declares Quarterly Dividends
Bank of America Corp announced the Board of Directors has authorized dividends on preferred stock. A quarterly cash dividend of $0.38775 per depositary share on the 6.204% Non-Cumulative Preferred Stock, Series D, is payable on September 16, 2013 to shareholders of record as of August 30, 2013. A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on August 15, 2013 to shareholders of record as of July 31, 2013. A quarterly cash dividend of $1,022.22222 per share on the Floating Rate Non-Cumulative Preferred Stock, Series F, is payable on September 16, 2013, to the shareholder of record as of August 30, 2013. A quarterly cash dividend of $1,022.22222 per share on the Adjustable Rate Non-Cumulative Preferred Stock, Series G, is payable on September 16, 2013, to the shareholder of record as of August 30, 2013. A quarterly cash dividend of $0.4140625 per depositary share on the 6.625% Non-Cumulative Preferred Stock, Series I, is payable on October 1, 2013 to shareholders of record as of September 15, 2013. A quarterly cash dividend of $0.453125 per depositary share on the 7.25% Non-Cumulative Preferred Stock, Series J, is payable on August 1, 2013 to shareholders of record as of July 15, 2013. A semi-annual cash dividend of $40.00 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K, is payable on July 30, 2013 to shareholders of record as of July 15, 2013. Full Article
Bank of America Corp Declares Quarterly Dividend On Series L Preferred Stock
Bank of America Corp announced the Board of Directors authorized a regular quarterly cash dividend of $18.125 per share on the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on July 30, 2013 to shareholders of record as of July 1, 2013. Full Article
Bluestone Global Ltd Announces Holding Interest Of Bank of America Corporation
Bluestone Global Ltd announced that Bank of America Corporation is holding an interest of 38,405,481 ordinary shares, representing 8.85% of voting power in the Company. Full Article
Singapore Reprimands Bank of America Corp And Other Banks After Benchmark Rate Review-Reuters
Reuters reported that Singapore's central bank has censured UBS AG and 19 other banks on June 14, 2013 after it found traders in the city state tried to manipulate benchmark borrowing and currency rates, and has ordered them to set aside additional reserves for a year. All of the banks on the Singapore's setting panels for interbank lending and currency rates were censured, along with Australia's Macquarie Bank. UBS AG, Royal Bank of Scotland Group PLC and ING Groep NV have been ordered to set aside the most in additional reserves, with each having to post between an extra SGD1 billion ($799.52 million) and SGD1.2 billion with the central bank. The money will be returned if the banks take the required remedial action. UBS and ING could not immediately be reached for comment. Other banks censured included BNP Paribas, Bank of America, Oversea-Chinese Banking Corporation, Barclays Bank PLC, Credit Suisse, DBS, Deutsche Bank and Standard Chartered PLC Full Article
FINRA Orders Bank of America Corp, Wells Fargo & Co To Pay More Than $5 Million-Reuters
Reuters reported that The Financial Industry Regulatory Authority (FINRA), Wall Street's watchdog, has asked the brokerage arms of Wells Fargo & Co and Bank of America Corp to pay more than $5 million in reimbursement and fine for selling floating-rate bank loan funds. FINRA ordered Wells Fargo Advisors LLC to reimburse about $2 million and pay an additional $1.25 million in fine. It asked Bank of America's Merrill Lynch unit to reimburse about $1.1 million and pay $900,000 in fine. Full Article
Bank of America Corp Heads For Court Showdown For $8.5 Billion Settlement-Reuters
Reuters reported that A long-running fight comes to a head on June 3, 2013, when court proceedings begin over an $8.5 billion settlement between Bank of America Corp and investors in mortgage securities that turned sour in the financial crisis. Bank of America agreed to the proposed settlement in June 2011 to resolve claims by investors who held bonds issued by mortgage lender Countrywide Financial Corp, which Bank of America bought in 2008. Full Article
Bank of America Corp Sells $110 Billion CMBS Servicing Rights Portfolio To KeyCorp's Unit-Reuters
Reuters reported that Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp's unit for an undisclosed amount, the latest offloading of servicing assets which many big banks consider costly to collect on. KeyBank Real Estate Capital said in a statement it will more than double its servicing portfolio to $205 billion with the acquisition, which includes about $14 billion in special servicing rights. The transaction needs the approval of private investors. Full Article
New York To Sue Wells Fargo & Co, Bank of America Corp Over Mortgage Practices-Reuters
Reuters reported that New York Attorney General Eric Schneiderman said, he plans to sue Bank of America Corp and Wells Fargo and Co for violating the terms of a settlement designed to end mortgage servicing abuses. The planned action is the first involving allegations that top banks, which agreed last year to provide $25 billion in relief to homeowners and comply with a set of servicing standards to atone for foreclosure misconduct, are not living up to their obligations under the deal. A spokeswoman for Wells Fargo declined to comment. Bank of America said in a statement that it takes seriously the allegations of servicing problems and will work quickly to address them. Full Article
Bank of America Corp Reaches $1.6 Billion Settlement With MBIA Inc-Reuters
Reuters reported that Bank of America Corp has agreed to pay $1.6 billion in cash to MBIA Inc and will receive the right to buy a 4.9% stake in the bond insurer to resolve long-running litigation, the companies said. Bank of America will also remit $137 million worth of MBIA senior debt it acquired in December and provide MBIA with a $500 million credit line as part of the deal. The accord will settle all of the two companies' disputes, including liability for MBIA as a counterparty in swap deals with Bank of America. Bank of America will take a charge against previously reported first-quarter earnings and its capital ratios will rise under Basel III as a result of the deal. Full Article
UPDATE 1-Private equity circles MoneyGram -sources
NEW YORK, June 28 - Carlyle Group LP and TPG Capital LP are among private equity firms vying for MoneyGram International Inc, the world's second-largest money transfer company, four people familiar with the matter said this week.
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