Bank of America News

Alex and Ani Jeweler Alleges Lending Gender Bias by Bank

A few short years ago, jewelry maker Alex and Ani LLC was the public example of a happy Bank of America Corp. customer. Now, it’s suing the lender for more than $1 billion in damages and alleging discrimination. The female-led …

Danish Prosecutors Charge Danske with Alleged Money Laundering Violations

Denmark’s state prosecutor has filed preliminary charges against Danske Bank for alleged violations of the country’s anti-money laundering act in relation to its Estonian branch. The country’s biggest lender was placed under investigation in August over concerns that transactions worth …

UK Companies’ Role in Alleged Danske Money Laundering a ‘Disgrace’: Whistleblower

British company structures which hide the identity of those behind them were branded a disgrace by the whistleblower who brought to light an alleged 200 billion euro ($228 billion) money laundering scandal involving Danske Bank. “The role of the United …

Update: Danske Whistleblower Says U.S., European Banks Helped Launder Money

The whistleblower who revealed alleged money laundering involving Danske Bank said on Monday that a major European bank helped process up to $150 billion in suspicious payments, or nearly two-thirds of the transactions under scrutiny. Howard Wilkinson, who was head …

Deutsche Bank, BofA, JPM Drawn into Danske Money Laundering Probe: Sources

Deutsche Bank AG and Bank of America Corp. have been contacted by U.S. criminal investigators for information about transactions they handled for a small bank branch in Estonia that’s at the center of one of the biggest money-laundering investigations in …

Oregon Woman Sues Bank of America After Losing Money in Scam

An Oregon woman is suing Bank of America, claiming a Hillsboro branch transferred $13,000 from her account to scammers. The Oregonian/OregonLive reported Rebekah Adams filed the lawsuit last week, claiming a teller failed to inform her that the money she …

Gun Lobby Seeks Lending Curbs on ‘Gun-Hating’ Banks

The U.S. gun lobby is taking aim at “gun-hating” banks after Citigroup Inc. and Bank of America said they would no longer provide certain banking services to gun-makers, according to industry lobbyists. The attack by Gun Owners of America and …

N.Y. Court Says BofA, Countrywide Merger Communications Must Be Disclosed

New York’s highest court ruled on June 9 that Bank of America must disclose to an insurer communications it had with Countrywide Financial six months before the bank bought the mortgage lending company in 2008. The insurer, Ambac Assurance Corp., …

Russia Cracks Down on Financial Hacking Ring, Raiding Moscow Office: Sources

Russian authorities in November raided offices associated with a Moscow film distribution and production company as part of a crackdown on one of the world’s most notorious financial hacking operations, according to three sources with knowledge of the matter. Cyber …

Reuters Special Report: U.S. Banks Book Trades Abroad to Bypass U.S. Regulation

This spring, traders and analysts working deep in the global swaps markets began picking up peculiar readings: Hundreds of billions of dollars of trades by U.S. banks had seemingly vanished. “We saw strange things in the data,” said Chris Barnes, …