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Bank of America Bracing for $800,000,000 Loss As Investigators Probe BofA, JPMorgan Chase and Wells Fargo’s Alleged Refusal To Reimburse Customers

Bank of America Bracing for 0,000,000 Loss As Investigators Probe BofA, JPMorgan Chase and Wells Fargo’s Alleged Refusal To Reimburse Customers

The second-largest US bank by total assets says it’s preparing for significant losses due to ongoing regulatory issues. In a new filing with the U.S. Securities and Exchange Commission (SEC), Bank of America says it faces a “reasonably possible and estimable” loss of up to $800 billion due to investigations from the Consumer Financial Protection […]

The post Bank of America Bracing for $800,000,000 Loss As Investigators Probe BofA, JPMorgan Chase and Wells Fargo’s Alleged Refusal To Reimburse Customers appeared first on The Daily Hodl.

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JPMorgan Chase, Wells Fargo and Bank of America Refuse To Define ‘Unauthorized Transaction’ As Customers Lose $320,000,000 To Scams on Zelle: Report

JPMorgan Chase, Wells Fargo and Bank of America Refuse To Define ‘Unauthorized Transaction’ As Customers Lose 0,000,000 To Scams on Zelle: Report

JPMorgan Chase, Bank of America and Wells Fargo are among six US banks that have not defined what an unauthorized transaction is, despite the term’s critical role in determining whether fraud victims will be reimbursed, according to a new report. The three big banks, along with Capital One, U.S. Bank and Truist, have released no […]

The post JPMorgan Chase, Wells Fargo and Bank of America Refuse To Define ‘Unauthorized Transaction’ As Customers Lose $320,000,000 To Scams on Zelle: Report appeared first on The Daily Hodl.

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Billionaire Warren Buffett Dumps $10,500,000,000 in Berkshire’s Bank of America Stake After Slashing JPMorgan Chase, Wells Fargo Investments To Zero: Report

Billionaire Warren Buffett Dumps ,500,000,000 in Berkshire’s Bank of America Stake After Slashing JPMorgan Chase, Wells Fargo Investments To Zero: Report

Warren Buffett has now sold a staggering $10.5 billion of Berkshire Hathaway’s stake in Bank of America in a matter of months. New filings with the U.S. Securities and Exchange Commission shows the firm just sold an additional 8.54 million shares in September and October, worth $337.86 million. The move follows Berkshire’s complete exit from […]

The post Billionaire Warren Buffett Dumps $10,500,000,000 in Berkshire’s Bank of America Stake After Slashing JPMorgan Chase, Wells Fargo Investments To Zero: Report appeared first on The Daily Hodl.

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JPMorgan Chase, Bank of America, Wells Fargo and Citi Lose $6,900,000,000 From Sour Loans As Analyst Warns Notorious Debt Bubble Is Popping

JPMorgan Chase, Bank of America, Wells Fargo and Citi Lose ,900,000,000 From Sour Loans As Analyst Warns Notorious Debt Bubble Is Popping

JPMorgan Chase, Wells Fargo, Bank of America and Citi are unloading billions of dollars in bad debt that they’ve given up on recovering. New earnings data shows the four largest banks in the country collectively recorded $6.9 billion in net charge-offs in Q3 of this year, primarily driven by credit card delinquencies and soured consumer […]

The post JPMorgan Chase, Bank of America, Wells Fargo and Citi Lose $6,900,000,000 From Sour Loans As Analyst Warns Notorious Debt Bubble Is Popping appeared first on The Daily Hodl.

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Bank of America Warns $35,751,000,000,000 National Debt Will Surge To ‘Unprecedented Levels’ As US Lender Recommends One Asset To Investors

Bank of America Warns ,751,000,000,000 National Debt Will Surge To ‘Unprecedented Levels’ As US Lender Recommends One Asset To Investors

Bank of America says the $35.751 trillion national debt will rise to “unprecedented levels” in the years ahead, according to a new report. The banks’ analysts just sent a note to clients stating the US will be forced to pay increasing interest on the debt as spending once again ramps up, reports Investing.com. And although […]

The post Bank of America Warns $35,751,000,000,000 National Debt Will Surge To ‘Unprecedented Levels’ As US Lender Recommends One Asset To Investors appeared first on The Daily Hodl.

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JPMorgan Chase, Bank of America Forecast New Rate Cut in November As Fed President Says Soft Landing Likely: Report

JPMorgan Chase, Bank of America Forecast New Rate Cut in November As Fed President Says Soft Landing Likely: Report

Two of the largest banks in the US believe another rate cut from the Federal Reserve is incoming. The Fed started its rate-cutting cycle last month, announcing a 50 bps reduction in interest rates amid concerns about the health of the US economy. Now, analysts at JPMorgan Chase and Bank of America (BofA) think the […]

The post JPMorgan Chase, Bank of America Forecast New Rate Cut in November As Fed President Says Soft Landing Likely: Report appeared first on The Daily Hodl.

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Wells Fargo, Bank of America Customers Lose Thousands of Dollars To Bank Impostor Scams – How One Victim Got Her Money Back

Wells Fargo, Bank of America Customers Lose Thousands of Dollars To Bank Impostor Scams – How One Victim Got Her Money Back

A pair of bank customers, one at Wells Fargo and the other at Bank of America, say they’ve been hit by similar scams – but only one got their money back. Maine business owner Amy Kelly says she recently received a call from what she believed was Bank of America, reports the CBS-affiliated news station […]

The post Wells Fargo, Bank of America Customers Lose Thousands of Dollars To Bank Impostor Scams – How One Victim Got Her Money Back appeared first on The Daily Hodl.

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US Banks Under Pressure As JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs and Citi Battle Shrinking Margins: Report

US Banks Under Pressure As JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs and Citi Battle Shrinking Margins: Report

The biggest banks in the US are preparing to report a third quarter marked by shrinking margins and declining profits, according to a new report. JPMorgan Chase and Wells Fargo release their Q3 earnings on Friday. JPMorgan is expected to reveal a nearly 8% drop in earnings per share while Wells Fargo will likely report […]

The post US Banks Under Pressure As JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs and Citi Battle Shrinking Margins: Report appeared first on The Daily Hodl.

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JPMorgan Chase Accused of Refusing To Reimburse Customers, Failing To Terminate Scammer’s Accounts Amid Federal Probe: Report

JPMorgan Chase Accused of Refusing To Reimburse Customers, Failing To Terminate Scammer’s Accounts Amid Federal Probe: Report

A federal investigation into banking giant JPMorgan Chase is targeting how the bank handles and protects potential victims of fraud, according to a new report. The Consumer Financial Protection Bureau (CFPB) is investigating whether the bank is properly reimbursing customers and effectively eliminating scammer’s bank accounts, reports CNBC, citing sources who requested anonymity while talking […]

The post JPMorgan Chase Accused of Refusing To Reimburse Customers, Failing To Terminate Scammer’s Accounts Amid Federal Probe: Report appeared first on The Daily Hodl.

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