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Bank of America Corp (BAC) News: Director Sells Shares, Bank in Cutlerville was Robbed, Bonuses for Lies & More

Editor’s Note: Related Tickers: Bank of America Corp (NYSE:BAC), MDU Resources Group Inc (NYSE:MDU), Goldman Sachs Group, Inc. (NYSE:GS)

Bank of American Corp Director Sells 580K Shares and 4 Insider Sales to Note (Wall St. Cheat Sheet)
Gifford Charles K who is Director at Bank of America Corp (NYSE:BAC), sold 580,734 shares at $13.07 per share for a total value of $7,590,193. The shares recently traded at $13.21, up $0.14, or 1.07% since the insider sale. Everist Thomas S who is Director at MDU Resources Group Inc (NYSE:MDU), sold 30,000 shares at $25.06 per share for a total value of $751,800. The shares recently traded at $25.19, up $0.13, or 0.52% since the insider sale.

Bank of America Corp (NYSE:BAC)

Bank of America robbed in Cutlerville (WOOD-TV)
The Kent County Sheriff’s Department is looking for the person who robbed the Bank of America Corp (NYSE:BAC) in Cutlerville on Tuesday afternoon. It happened around 4 p.m. at the bank in the intersection of 68th Street and Division Avenue S. The suspect came into the bank and implied a weapon before leaving with an unknown amount of money, according to the Kent County Sheriff’s Department. Deputies would not confirm whether the suspect was male or female. There were no injuries reported.

Ex-Bank of America mortgage workers were ‘told to lie’ (
Former Bank of America Corp (NYSE:BAC) employees say in court documents that the bank routinely lies to customers about their mortgages, and denies their requests for modifications without even looking at the paperwork. In sworn affidavits, four former employees, for example, describe policies in place at the bank that they say are designed to subvert the Home Affordable Modification Program (HAMP), 2009 government-sponsored initiative that was designed to keep distressed homeowners above water during the depths of the housing crisis. The affidavits are part of multiple court cases against the bank brought by homeowners who say they were unfairly foreclosed upon. Bank of America, based in North Carolina, is disputing the allegations.

Bank of America looks to sell local bank branches (Standard Speaker)
A new bank may be coming to a corner near you as Bank of America Corp (NYSE:BAC) reportedly looks to unload eight branches in Northeastern Pennsylvania. As the nation’s second largest bank shifts its attention and money elsewhere, it plans to divest of its branches in Northeast Pennsylvania and New York – 41 offices in all – according to news reports attributed to anonymous Bank of America Corp (NYSE:BAC) employees. A hot sheet of the branches compiled by Griffin Financial Group Inc. showed eight branches for sale in the region from the downtown Scranton office to those in Freeland and Lehighton.

Bank of America’s Simple and Ingenious Business Model (DailyFinance)
Bank of America Corp (NYSE:BAC) headquarters in Charlotte, N.C. Bold statement alert! Bank of America may have the best business model in the world right now. Unfortunately for Bank of America shareholders, just having the best business model in theory doesn’t guarantee operational or financial success. Bank of America Corp (NYSE:BAC)’s master plan isn’t relatively new, but leadership blunders and lack of communication across the company have prevented the bank from fulfilling its true potential. So, what is this mind-blowing, revolutionary strategy? In the words of CEO Brian Moynihan at a recent Goldman Sachs Group, Inc. (NYSE:GS) conference, “We’re pursuing the customer relationship model.”

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