The discontinuance of new mortgage loans by BofA is in response to an ongoing dispute over the expenses on defective mortgages and Fannie Mae’s position on repurchases, reports say.
Three months after the backlash grew when Bank of America attempted to levy a monthly debit card usage fee to spawn Bank Transfer Day, the financial institution is not saying whether the nationwide effort had an impact on any account closures.
Despite complaints from small business owners, Bank of America is calling recent reports that it is cutting or closing credit lines for all of its small business clients “speculation.”
Bank of America is calling recent reports that it is cutting or closing the credit lines for all of its small business clients "speculation."
For many credit unions, Bank of America’s failed attempt to charge a $5 monthly debit card usage fee sent their membership numbers up the charts.
This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.