Bank of America

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Replied by JELOPEZ88 on topic Re: Bank of America

Wow, I watched the video clip about Bank of America financial troubles since buying out some of the major mortgage companies that went under and how low the bank's going stock quote is on the stock market. I recently opened a checking, savings and credit card with them. I hope I don't regret that decision later on. Evidently, they have a plan in their back pocket to "get smaller" if things continue to go "south" financially.

:dumbfounded:
7 years 7 months ago #1

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  • Wanderer
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The time has come. You will find the following article in the online Wall Street Journal 01-14-12

BY DAN FITZPATRICK AND JOANN S. LUBLIN Bank of America Corp. has told U.S. regulators that it is willing to retreat from some parts of the country if its financial problems deepen, according to people familiar with the situation.

Executives at the Charlotte, N.C., financial giant put the potential move on a list of emergency scenarios submitted to the Federal Reserve last year, these people said. While people close to Bank of America insist that no retreat is imminent, even the possibility of selling branches and losing customers it spent huge sums to lure underscores the depth of its problems.
7 years 7 months ago #2

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