Massachusetts Attorney Blog: Consumer Protection & Personal Injury Information

Bank of America Bonuses to Top $4 Billion

Bank of America, the nation's largest lender, announced that it will pay its investment banking employees bonuses for 2009 that total about $4.4 billion. Reports estimate that this represents an average bonus of $400,000 each since the investment unit employs approximately 10,000 people.  According to a report in Bloomberg News, unidentified sources say that top Bank of America performers in global banking and markets will receive bonuses of about $5 million, while managing directors will get $2.5 million to $3 million.

Bank of America reportedly reaped $6.3 billion in profits in 2009 despite the lagging economy and a record number of Americans losing their homes to foreclosure.

Meanwhile, Bank of America has been making headlines for a number of wrongful foreclosures, claims that involve homeowner allegations of Bank of America seizing homes where the homeowners actually had no banking relationship with BoA. 

Wrongful Foreclosure Attorneys

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your consumer rights against banks that have wrongfully seized your home. We are committed to protecting your best interests and helping you collect the damages you need and deserve to move on with you life. If you think that you've been the victim of a wrongful bank foreclosure, contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.