Here’s this week’s round-up of Bank of America Corp. (NYSE:BAC) news briefings. Bank of America Corp. (NYSE:BAC) stocks ended the week at 14.29 (as of 2/4/2011).
Weekly News Roundup: Bank of America Corporation (NYSE:BAC)
Monday 31 January
Bank of America Corporation (NYSE:BAC)’s investment bank compensation pool has reportedly declined by 10%.
As per reports from people having direct knowledge of the matter, the investment banking division of Bank of America Corporation (NYSE:BAC) has set aside about 10 percent less for employee compensation as it did last year.
Alan Johnson, managing director of New York-based compensation consultant Johnson Associates Inc., said that, “It’s what you should expect considering it was a pretty volatile year. People were down more than that at other places; I’d say a 10 percent decline overall is a pretty good outcome.”
Wednesday 2 February
A court has ruled that Bank of America Corporation (NYSE:BAC) can continue foreclosures in Nevada.
After being involved in the recent ‘robo-signing scandal’ and foreclosure debates, Bank of America Corporation (NYSE:BAC) has finally received approval from the court to continue operations in Nevada.
The ruling is of great significance as Nevada is one of the states experiencing the highest default rates for properties in the US. Real estate prices rose in the state higher than ever during the housing boom period.
We’ll be keeping a close eye on the Bank of America Corp. stock level for developments over the next few weeks.