The blocked payment is a misunderstanding that can and probably will be resolved, a Sogaz official, who asked not to be identified, citing the sensitivity of the issue, said by text message.
Bank of America Corp., the second-biggest U.S. lender, posted quarterly profit that more than quadrupled and beat Wall Street estimates as the company quelled claims tied to defective mortgages. The stock rose 3.6% to its highest level in more than three years.
JPMorgan Chase & Co.’s quarterly profit fell 7.3 percent on $2.6 billion of settlements tied to Bernard Madoff’s Ponzi scheme as rising legal costs ended the firm’s three-year streak of record annual earnings.
Bank of America Corp. reported first-quarter profit that missed analysts’ estimates as lower mortgage banking income and higher legal costs slowed the firm’s turnaround. The shares dropped 3% in early trading.
Bank of America Corp. reported third-quarter results that were better than some analysts predicted as capital levels improved, and the shares edged higher in New York trading.
Bank of America Corp., shaking off some of the drag caused by faulty mortgages, swung to a second- quarter profit as real estate-unit losses narrowed and the company set aside less money for bad loans.
Bank of America Corp., the second- largest U.S. lender, said first-quarter profit rose amid a rebound in trading and better credit quality. The shares jumped in early trading.
