Washington (CNN) — Have you ever read your credit card contract? If not, you’re not alone. Most cardholders never read the long complicated legalese in a credit card agreement.
New York Times: Bank of America’s Rowe Cites ‘Sea Change’ in Attitude Towards Consumer Products.
CONSUMER LENDING
9:00 am 11/11/2009
Bank of America Global Card Strategy Executive Andy Rowe recently participated in a New York Times –led discussion on new rules in the credit card industry and shifts in access to credit and higher prices.
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Bank of America Extends Nearly $184 Billion in Credit in Third Quarter
COMPANY PERFORMANCE
12:00 pm 11/9/2009
Nearly $760 Billion in Credit Extended Since TARP Investment Began
CHARLOTTE, N.C., Nov. 9 /PRNewswire/ — Today, Bank of America issued its third quarterly Lending & Investing Initiative report, which outlines the company’s progress in driving economic recovery through 10 key areas, including lending to consumers and businesses of all sizes, support for municipalities and nonprofits, community development and other initiatives.
The report, which delivers on a commitment to provide greater transparency into the company’s lending and investing efforts across the enterprise, demonstrates how Bank of America is using the government’s investment in the company to support the U.S. economy.
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CEO Lewis: Almost $184 Billion In Credit Extended in Third Quarter
COMPANY PERFORMANCE
12:00 pm 11/9/2009
Total for first nine months nears $578 billion
Over the past several months, almost every business day has brought new economic reports showing that home prices are stabilizing, that industrial production is picking up, that inventory stocks are coming down, that job losses are slowing — in short, that our long recession is nearing its end, and that an economic recovery has begun. If true, this is obviously very good news.
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Bank of America Introduces Clarity Commitment™ for Home Equity Products
CONSUMER LENDING
8:00 am 11/3/2009
Simple One-Page Summary of Key Loan Terms Allows Borrowers to Review Their Loan Details in Plain Language
CALABASAS, Calif. – Bank of America announced today that its popular Clarity Commitment™ home loan summary – a consumer-friendly document hailed as a lending industry model – is now available for home equity lines of credit and home equity loans.
The Clarity Commitment is a tangible demonstration of the Bank of America Home Loans brand promise to lend responsibly and help customers become successful homeowners. A simple one-page summary of key loan terms, this document lets borrowers review their loan details in plain language so they are confident they have chosen a loan that is right for them.
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