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Bank of America stops wholesale lending

Bank of America published yesterday it will exit offering its consumer home mortgages through brokers by the end of 2007.

Result are Bank of America job cuts and lay offs of 700 jobs.

Just on Wednesday the U.S. bank announced cuts of 3000 jobs due to a poor quarter in investment banking.

There was 32% drop in quarterly profits.

Linkedin page : Bank of America Linkedin page : Bank of America Merrill Lynch Linkedinr page : Merrill Lynch Life's better when we're connected munity Bank is a Department of Defense owned banking program operated through a contract with a mercial financial institution. The Defense Finance and Accounting Service, in coordination with the Military Service banking representatives, is responsible

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