So imagine their surprise when, in February of 2010, bank of america credit card processing initiated foreclosure proceedings against them. The Nyerges hired an attorney, Todd Allen, to defend them against the wrongful foreclosure, and the bank eventually abandoned the matter. Peculiarly (and I’ll have to admit I’m among the guilty), a state-wide halt of foreclosures by a Bank of America unit in Nevada earlier in the week attracted remarkably little notice. The number of foreclosures in involved is meaningful, over 8000. Bank of America in the first quarter also recorded some bright spots on its balance sheet. The bank’s credit card business saw income rise by 77 percent to $1.7 billion.
In 2005, Bank of America became the biggest credit card issuer when it bought MBNA for $35 billion. In the months since Congress passed a law targeting “unfair and deceptive” credit card practices, Bank of America and other credit card companies have been busily hiking fees, rates and penalties in anticipation of stricter rules. bank of america credit card processing is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services.
What the Times doesn’t mention (although it was reported last month) is that Bank of America’s defense also includes an effort to make sure no one on the internet makes fun of the bank’s head honchos. How is Bank of America going to inure itself to the cutting jabs of internet flamethrowers? The employee reportedly corresponded with Bank of America employees and was told to falsify loan numbers on documents to force bank of america credit card processing to foreclose on homeowners. Bank of America is one of the biggest banks in the United States and has a very large presence throughout the United States and internationally. Bank of America has a very rich history and has managed to become one of the biggest and most profitable banks because of a number of mergers and strategic financial moves.