Fri, Jul 12, 2013 6:42 PM EDT 1:12
Bank of America Corp rejected allegations that greed and bad faith drove the bank and its workers to push distressed homeowners into foreclosure, rather than help them obtain loan modifications to which they were entitled. Instead of paper checks or direct deposit, employers are issuing A.T.M.-style cards that can have large fees associated with them. Sixteen senators want an investigation. Data from the US central bank showed foreign central banks' overall holdings of U.S. marketable securities at the Federal Reserve fell in the last week. The Fed said its holdings of U.S. securities kept for overseas central banks fell $3.11 billion in the week ended July 10, to stand at $3.3 trillion. Overseas central banks, particularly those in Asia, have been huge buyers of U.S. debt in recent years and own more than a quarter of marketable Treasuries. China and Japan are the biggest foreign holders of Treasuries.