Latest Bank of America News: Finextra Research

IBM to buy Bank of America mortgage servicing unit

IBM has signed a deal to buy the core operating assets of Bank of America's mortgage servicing unit Wilshire Credit Corporation. Financial terms of the deal were not disclosed.

06 October 2009

/Sibos

Transaction bankers embrace co-operation

The future of transaction banking lies in greater collaboration between banks and a greater adoption of outsourcing. This was the main point delivered at a keynote debate at this Sibos, the annual user conference of banking co-operative Swift.

17 September 2009

/wholesale

Nyse Euronext to sell options mart stake to dealer consortium

Nyse Euronext has agreed to sell a "significant" equity stake in one of the company's two US options exchanges to a consortium of market makers, including BofA Merrill Lynch, Barclays Capital, Citadel Securities, Citi, Goldman Sachs, TD Ameritrade and UBS

09 September 2009

/regulation

Dealers to accelerate central clearing of OTC trades

Under pressure from regulators, 15 of Wall Street's biggest banks have committed to significantly increase the use of central counterparties to clear over-the-counter (OTC) derivatives.

09 September 2009

/retail

Bernanke hit by ID theft gang - Newsweek

US Federal Reserve chief Ben Bernanke has fallen victim to an identity fraud ring accused of hitting hundreds of people and stealing more than $2.1 million, according to Newsweek.

28 August 2009

/retail

Bank of America sells B2B e-payment and invoice business to Bottomline

Bank of America is selling its business-to-business electronic payment and invoice network, PayMode to Bottomline Technologies as part of a multi-year agreement with the vendor. Financial terms were not disclosed.

06 August 2009

/wholesale

Data compression firm files patent infringement suits against banks and exchanges

A US firm specialising in data compression has filed lawsuits against a host of investment banks, stock exchanges and financial news and data outfits, accusing them of patent infringement.

29 July 2009

/retail

BofA to close 10% of branches as customers go online and mobile - WSJ

Bank of America plans to close around 10% of its 6,100 branches in response to shrinking customer demand as people turn to online and mobile banking, according to the Wall Street Journal.

28 July 2009

/regulation

Three more banks join CLS/Icap FX joint venture

Bank of America, Credit Suisse and Morgan Stanley have joined four other founder banks in supporting the CLS/Icap joint venture to provide trade aggregation services in the over-the-counter FX market.

27 July 2009

/retail

TCS Q1 profit soars as demand from banks picks up

Increased demand from financial services firms has led to better than expected first quarter earnings for Indian IT firm Tata Consultancy Services (TCS).

20 July 2009

/wholesale

ELX Futures offers free trades during July

ELX Futures, which is set to launch tomorrow, says it will not charge for trades in July as it looks to strike an early blow in the battle to take market share from the dominant CME Group.

09 July 2009

/retail

Tsys knocked by Bank of America/First Data joint venture plans

Payments processor Tsys says it stand to lose four per cent of its annual revenue as a result of plans by Bank of America to switch its 240,000 merchant relationships to a new joint venture company in partnership with First Data.

01 July 2009

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