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Bank of America Corporation Message Board

  • cchaker cchaker Feb 19, 2013 3:14 PM Flag

    Suit against BAC cleared.

    Bank of America (NYSE: BAC ) is also hitting stride today, leading all Dow members up with gains of 2.3%. The stock's hovering just below a new 52-week high, although 2013 hasn't so far lived up to 2012. Last year's top Dow stock has stayed flat to kick off the new year, but it has still picked up more than 26% in the past three months. The bank also got a lift from the New York Fed in a move that only recently came to light: The Federal Reserve cleared the company of liability on some mortgage-backed securities it sold to recovering insurer AIG in part of a lawsuit last summer. It's good for B of A that AIG's potential $7 billion suit was cleared -- and not so good for AIG shareholders.

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