Also found in: Financial, Encyclopedia.
BOFABoosted Over Fire Air (emmissions reduction technology)
BOFABreath of Fresh Air
BOFABank of America
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Additionally, BofA accepted the accusation that both Countrywide and Merrill Lynch had misrepresented facts about the underlying loans while selling them to investors.
5bn settlement of Countrywide's mortgage repurchase obligations to numerous lenders, along with disputes pertaining to the issuance of mortgage guaranty insurance by AIG's United Guaranty subsidiaries to BofA and Countrywide.
BofA won dismissal from Allstate's lawsuit against Countrywide on Feb.
Some small business owners complained the alternatives BofA has offered have not been helpful.
Greg Miller, the company product manager for Eagle Service Plan global sales, said, 'We see this alliance with BofA Merrill as a strong endorsement of our ESP programme.
The Journal said BofA executives met on Thursday at Charlotte, North Carolina, where the bank is headquartered, and was scheduled to gather again yesterday to make final decisions on the reductions, putting the finishing touches on five months of work.
A BofA spokesperson denied the allegations, pointing the finger at AIG as "an informed, seasoned investor" that "recklessly chased high yields.
As one of the world's leading providers of global banknote services to financial institutions, Bank of America Merrill Lynch is dedicated to giving our clients the highest level of service," said Kathleen Gowin, Global Wholesale Banknotes executive and head of Americas Financial Institutions Treasury Sales at BofA Merrill.
But on December 14, BofA financial officers informed CEO Kenneth Lewis that Merrill Lynch's quarterly losses would be $3 billion more than expected (the $9 billion in expected losses ended up being a $15 billion loss--a $6 billion increase over what stockholders expected and approved).
In the Monday BofA Securities report, analysts Ross Nussbaum and Christy McElroy stated that they had underestimated the property-level NAV for the three properties, whose sale price, if used as a valuation of the properties, would have served to raise their estimate of The Mills' stock by roughly $1 per share.
Recognizing that CPAs are likely to be advising these customers, BofA will encourage CPAS to help their clients generate or convert existing accounting information to XBRL files.
BofA indicated that it wanted to position itself in high-growth areas to increase its customer base.