The final night of the Democratic National Convention has been moved indoors, away from Bank of America Stadium and into the Time Warner Center, where last night’s speeches were housed. From the beginning, Democrats heard criticism about the President accepting the nomination in a stadium named for one of the most notorious mega-banks in America, [...]

The Office of Mortgage Settlement Oversight has released their initial assessment of the foreclosure fraud settlement. And what they’re finding is that banks are “paying off” their portion of the settlement by engaging in short sales with their borrowers. Which is something they were already doing in greater numbers prior to the settlement. The report [...]

Protests have begun at the RNC, even if the convention hasn’t. And the groups engaged in the protests started by targeting an unlikely but also a universal target, one you’ll hear a lot about next week in Charlotte as well – Bank of America. Some 200 demonstrators gathered in downtown park for an unscheduled protest. [...]

NPR ran a sappy story yesterday about Bank of America donating foreclosed homes, which got a critical response in their comment section. Here’s a representative sample of the comments: This was a poorly researched, uncritical story by NPR. Why is it good thing to dispossess 2500 families from their homes and then give the houses [...]

Reuters uncovers a scoop, that there’s apparently a second-layer living will process, a secret one beyond the public living wills we know about. To refresh your memory, banks are required to fill out living wills that detail how they would be unwound in the case of a financial failure. The initial public living wills that [...]

A little over five months after the inking of the foreclosure fraud settlement, and around three months since a federal judge blessed it and allowed it to go forward, people have begun to wonder whether the signature piece, the money pledged toward “credits” for a variety of actions, including principal reduction, has gotten off the [...]

Ben Hallman has an informative piece on who is starting to get relief from the foreclosure fraud settlement. The short answer, despite incentives to write down loans in the first year of the program, is not that many people. As part of the national mortgage settlement signed in March, five large banks — Chase, Bank [...]

So here’s another revelation of fraud for your Monday morning. Gretchen Morgenson has the story: Days before Bank of America shareholders approved the bank’s $50 billion purchase of Merrill Lynch in December 2008, top bank executives were advised that losses at the investment firm would most likely hammer the combined companies’ earnings in the years [...]

Despite the charred landscape that is the current housing market, despite the suffering borne by families all over the country, the last few years have provided a glimmer of hope that people of like circumstances have not turned their backs on each other, that they are working together for progress. And sometimes, they make it. [...]

Occupy and bank accountability activists have staged a major protest at Bank of America’s shareholder meeting today. This is the latest in a series of shareholder activism events that have gone hand in hand with the rebooting of the Occupy movement this spring. Direct challenges to the nation’s biggest corporations and financial institutions have often [...]

Bank of America says they have begun mailing notices to their borrowers about principal reduction opportunities under the foreclosure fraud settlement. You may recall that BofA inked a side deal on the settlement that would allow them to extinguish an additional $850 million of the cash penalties by reducing loan balances more deeply than called [...]