Thursday, December 29, 2011

Morning roundup: BofA short-sale pilot program has few takers

Here's a look at what's news in banking and finance this morning:

  • A Bank of America pilot program that offered Florida homeowners cash payouts of $5,000 to $20,000 to short-sell their homes garnered little response, the St. Petersburg Times reports.
  • Remaining in Florida, a judge has ruled that a company Bank of America contracted with to try to collect a dead man's debts harassed the man's widow, the Wall Street Journal says. Legally, family members are not obligated to pay a deceased relative's debts, but the company called the woman up to 10 times per day.
  • U.S. prosecutors are issuing subpoenas to people they suspect have hidden Swiss bank accounts, Reuters reports.
  • In a related story, new rules that will require banks to disclose more information about customers who keep deposits in a country other than their own have banks around the world worried, the Wall Street Journal reports.