August 13, 2009
Bank of America just announced that it will no longer require consumers to arbitrate disputes concerning credit cards and other consumer accounts. Great news! The collapse of pre-dispute, mandatory binding arbitration continues. Hopefully other credit grantors will follow suit. Bank of America ends arbitration of card disputes | Reuters
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March 30, 2008
In an odd sort of thank-you note, Bank of American will give two top Countrywide executives, CEO Angelo Mozilo (pictured) and President David Sambol, $19 million in stocks. Bank of America took over Countrywide, the company made famous by writing loans all but guaranteed to fail. Countrywide’s loose lending habits were a significant contribution to [...]
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