U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.
NEW YORK (Reuters) - BNP Paribas SA has hired former Bank of America Corp executive Chris Innes to head equity sales for the Americas in New York, a person familiar with the matter said.


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FILE - In this file photograph taken Dec. 2, 2009, the 2011 Chevrolet Volt debuts at the Los Angeles Auto Show, in Los Angeles. General Motors Co. said Tuesday, July 27, 2010, its Chevrolet Volt electric car will cost $41,000 when it goes on sale in November. The price is about $8,000 more than its closest rival, the all-electric Nissan Leaf.(AP Photo/Jae C. Hong, file)AP - Just over a decade ago, electric cars were expensive niche vehicles for gadget lovers and celebrities. Now, Nissan and General Motors are competing to sell the most affordable electric car to middle-class America.


CHARLOTTE, North Carolina (Reuters) - Bank of America Corp on Monday appointed a former colleague of Sallie Krawcheck as its Merrill Lynch global wealth management unit's new chief investment officer.


FILE--In this June 14, 2010 file photo, President Barack Obama walks with Mississippi Gov. Haley Barbour, center, Gulfport Mayor George Schloegel, rear, and others, after he met with residents affected by the BP Deepwater Horizon oil spill in Gulfport, Miss. (AP Photo/Charles Dharapak)AP - As chief executive officer of America Inc., Barack Obama has walked the factory floor when it comes to managing the federal response to the Gulf oil spill, going directly to front-line workers.


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FILE--In this May 28, 2010 file photo, President Barack Obama, left, LaFourche Parish president Charlotte Randolph, center, and U.S. Coast Guard Admiral Thad Allen, National Incident Commander for the BP Deepwater Horizon oil spill, look at booms laid out to collect oil during a tour of areas impacted by the Gulf Coast oil spill in Port Fourchon, La. (AP Photo/Evan Vucci)AP - As chief executive officer of America Inc., Barack Obama has walked the factory floor when it comes to managing the federal response to the Gulf oil spill, going directly to front-line workers.


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Reuters - New York has sued Bank of America Corp and its Merrill Lynch & Co unit over the companies' merger and Merrill's subprime mortgage exposure, hoping to recover more by suing on its own than by joining existing class-action litigation.
NEW YORK (Reuters) - New York has sued Bank of America Corp and its Merrill Lynch & Co unit over the companies' merger and Merrill's subprime mortgage exposure, hoping to recover more by suing on its own than by joining existing class-action litigation.


Reuters - British entrepreneur Richard Branson provided a closing flourish to the Farnborough Airshow by doubling the size of his Virgin America airline fleet by video link from the Caribbean on Thursday.
FARNBOROUGH, England (Reuters) - British entrepreneur Richard Branson provided a closing flourish to the Farnborough Airshow by doubling the size of his Virgin America airline fleet by video link from the Caribbean on Thursday.