Bank of America Provides Relief to More Than 600,000 Homeowners Through Mortgage Modification Efforts

CONSUMER LENDING 5:30 pm  12/4/2009
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Bank Offers Assistance through Home Affordable, Other Home Retention Programs

CALABASAS, Calif. – Bank of America has provided mortgage relief through concluded and trial modifications to more than 600,000 homeowners since January 2008.

“At Bank of America, we remain focused on providing long-term solutions to help distressed customers sustain homeownership” said Jack Schakett, credit loss mitigation strategies executive of Bank of America Home Loans.  “Through the government’s Home Affordable Modification Program (HAMP) and our own programs, we are moving aggressively to assist as many homeowners as possible.”
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Bank of America Website Offers Help to Homeowners

CONSUMER LENDING 5:00 pm  12/4/2009
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In today’s economic environment, many homeowners are struggling to keep up with their monthly mortgage payment.  New and established homeownership retention and foreclosure prevention programs offered by mortgage servicers and the federal government’s Making Home Affordable (MHA) plan can help ease some of the burden.
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Bank of America Announces Pricing of Common Equivalent Securities

COMPANY PERFORMANCE 6:50 pm  12/3/2009
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CHARLOTTE – Bank of America Corporation today announced the pricing of its offering of 1.286 billion common equivalent securities.

The offering, priced at $15.00 per common equivalent security, is expected to generate gross proceeds of approximately $19.29 billion. Bank of America will use the proceeds from the offering, together with existing funds, to repurchase the preferred stock issued to the U.S. Department of the Treasury as part of the Troubled Asset Relief Program.
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Bank of America to Repay Entire $45 Billion in TARP to U.S. Taxpayers

COMPANY PERFORMANCE 5:20 pm  12/2/2009
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Company to Increase Capital, Enhancing Tier 1 Common Capital Ratio

CHARLOTTE – Bank of America today announced that it will repay U.S. taxpayers their entire $45 billion investment provided under the Troubled Asset Relief Program (TARP). The repayment will be made after the completion of a securities offering (see below).
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Bank of America Announces Credit Card Clarity Initiative

CONSUMER LENDING 12:00 pm  12/1/2009
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40 million credit card customers will receive a one-page summary of their rates, fees, and payment information

After leading the industry in launching BankAmericard Basic™, which has one rate for all transactions and no over limit fees, Bank of America today announced the launch of the Credit Card Clarity CommitmentTM, a one-page summary of customers’ rates, fees, and payment information.  Bank of America, the nation’s largest bank by assets, is the first bank to provide each cardholder with a clear and simple explanation of this kind.
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