Bank of America to cut hundreds of legacy servicing staff

The goal of our environmental, social and governance (ESG) reporting is to present pertinent information about the global business of Bank of America in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries and across our eight lines of business.

Bank of America’s Legacy Asset Servicing division initiates foreclosure proceedings and deals with investors who want to buy back troubled mortgages. But with fewer individuals now at risk of facing foreclosure, the $1.5 trillion-asset company has been trimming staff. Last summer, Bank of America cut 540 mortgage jobs from its LAS division.

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Bank of America – cut 1,000 mortgage jobs in Ohio, closing offices in Beachwood, Cincinnati, and Independence. Bank of America – cut 152 jobs in Sunrise, FL. Bank of America – reportedly closing old Countrywide Mortgage branches. Bank of America – cut roughly 4,000 more mortgage jobs by end of 2013.

Bank of America’s (NYSE:BAC) Legacy Asset Servicing (LAS) division is the catch-all where the bank houses its worst assets. These assets are relics of the pre-crisis era, where anyone that could fog a mirror could get a mortgage, and namely, from BAC’s then-independent Countrywide unit.

One 1950 charge card only worked “in a two-block radius” of its issuing bank. California was a little looser with its banking regulations, which made it possible for Bank of America to scale. up.

The Bank of America ATM located at 100 Legacy Dr Suite 110 Plano, TX makes it easy to check balances and withdraw cash.

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Bank of America’s Corporate Social Responsibility Report. Our new management team started the year by setting an ambitious agenda: for Bank of America to become, and to be seen as, the world’s fnest fnancial services company. Central to that vision is our promise to be a purpose-

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