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ReturnTop top top • /
Part
03 /
Bank
Of America / _________ 4.
Related Stories / Bank
Of America, The Tortfeasor TVI Magazine is not
responsible for the content of external InterNet
sites More
Articles • Converging
News JULY 2007 / TeleCom BuyOuts, Spinoffs and
Asset Seizure Boom Respectfully
Submitted • • 110 / HiTech \ MORE
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BClick
To View the BofA & MBNA U2 Merges With A Song -
YouTube
1.
Feature Story / BofA
settles privacy lawsuit. Who's next -- American
Express?
•
•
July 12,
2007 /
Bank of America Corp. agreed
to pay $14 million to resolve claims that it
improperly disclosed customer information to
marketers and third parties without permission.
•
•
The bank will pay $10.75
million to 35 million checking and savings
customers nationwide and to credit card customers
in California and $3.25 million to finance privacy
projects, said Shirley Norton, a spokeswoman for
the bank.
•
•
BofA did not admit
wrongdoing in the accord.
•
•
"Bank of America denies all
allegations of wrongdoing and contends that it
fully complied with the law, its privacy policy and
its customer agreements," Norton said.
•
•
The Plainfiff's accused the
bank of disclosing customers' confidential
information to third parties to market products or
services, according to a notice sent to
customers.
•
•
The class-action lawsuit,
filed in 1999 in state court in San Francisco, has
not only effected the bank, "but other credit card
firms such as: American Express and Master Card" --
says Troy Cory-Stubblefield, author of Bank of
America, The Tortfeasor. "Disclosing customers'
confidential information to third parties to market
products or services, will be the next credit
reporting agencies firms to be hard hit for their
tortfeasants." BofA settles privacy lawsuit. Who's
next -- American Express? CLICK
MORE STORY ABOUT THE BOOK -- TORTFEASOR
UpDates
Part
02 /
"The
Tortfeasor" Updates
Bank
accused of playing down losses before merger with
NationsBank. It will pay $490 million to
shareholder for its Tortfeasants. 02/09/2002
Bank of America Corp. confirmed that Chairman and
Chief Executive Hugh McColl will retire April 25,
stepping down after 20 years as head of the largest
U.S. bank rated by deposits.
•
Editor's News
Update: Josie Cory, TVI
----- Discover the
hidden secrets and never before revealed truths
about the Bank of America&emdash;NMEC scandal; the
events that destroyed many people, including the
president and chairman of the Board of Bank of
America and NMEC. BofA's Sam Armacost, called the
NMEC scandal, "that crazy mortgage thing never
should have happened". BofA's Board of Directors
called the scandal "their personal Pearl
Harbor"&emdash;analogized after Federal Judge
Tashima.
-----This Book, however is not only about
Bank of America, NMEC and Wells Fargo, it is also
about the founders, the good and bad guys of the
financial, banking, insurance world, and the
corporate gurus who make up the pieces of the
puzzle&emdash;from the early days of mortgage
pass-through certificates, in 1977 to
date.
-----The methodology which Troy and Josie
Cory applied to resolve the BoA&emdash;NMEC
scandal, is, what you might call in he high tech
world&emdash;as Motion with Devotion. You'll find
there's as much as a thin-line between Bank of
America and NMEC activities, as there is between
Trust Deed and mortgage notes&emdash;for without
one you might not have the
other.
-----The Banks Un-American Banking
Activities in the 80s, promoted itself as the bank
that &emdash; "We Couldn't Have Done It Without
You." But to Claire Giannini Hoffman, the bank her
father founded in 1906, as the Bank of Italy, is
doing an unflattering job on his
memory.
-----Hoffman, was an ongoing critic of Bank
of America for much of her lifetime. She made a
habit of contacting newspapers and radio stations
condemning the wild and wooly ways of BofA, calling
them "an insult to my
father."
-----"It is contemptible, what they are
doing," the 89 year-old Hoffman would tell
interviewers. "They are using my father's name and
picture to promote their bank". She said the modern
Bank of America does not represent the business
philosophy espoused by her father. "My father
believed that, if you helped people, eventually you
would have people for friends, as well as
customers."
-----Hoffman, delivered a blow to the bank's
image in 1985, by resigning her honorary seat on
its board. It was over what she called, the
"unpardonable" act of selling its San Francisco
headquarters; the repossessing of trucks,
automobiles and the homes and farms from our
customers, in a time of
need.
-----Today's BofA, she said, "is just
another bank. If it didn't have the same name there
would be no similarity at all."
by
Troy Cory-Stubblefield, Melvin Belli,
Scott
Stubblefield
and Kevin McLean. Hardcover (September 3, 1993),
Price:$229.99 - Special
Order
ISBN: 1-883644-85-2; BK0660
Josie
Cory
Publisher/Editor
TVI Magazine
•
• TVI
Magazine, tviNews.net, YES90, Your Easy Search,
Associated Press, Reuters, BBC, LA Times, NY Times,
VRA's D-Diaries, Industry Press Releases, They Said
It and SmartSearch were used in compiling and
ascertaining this Yes90 news
report.
•
• ©1956-2007.
Copyright. All rights reserved by: TVI
Publications, VRA TelePlay Pictures, xingtv and Big
Six Media Entertainments. Tel/Fax: 323
462.1099.
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Bank of America, BofA
settles privacy lawsuit. Who's next -- American
Express? •
/ Feature
Story / • 106BofAprivacylawsuitLoss.htm
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