Occupy Wall Street protesters, environmental activists, and struggling homeowners are converged in Charlotte, North Carolina for a protest outside Bank of America's annual shareholder meeting.

Protesters took to the streets of Manhattan Tuesday to protest against Bank of America and its business practices.

Bank of America, hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation.

The Federal Reserve and Federal Deposit Insurance Corp. disagree over the transfers, which are being requested by counterparties, said the people, who asked to remain anonymous because they weren’t authorized to speak publicly.

Hmm...... Maybe it's time for me to close my Bank of America accounts!

Please read more here.

New York Entertainment Attorney Bob Celestin is a friend of mine. Here he is on CBS News expressing his views on the new Bank of America debit card fees.

Bank of America Corp. officials have discussed eliminating roughly 40,000 positions during the first wave of a restructuring that Chief Executive Brian Moynihan is expected to discuss Monday, said people familiar with the plans.

Bank of America Corp. (BAC), the biggest U.S. lender, said Warren Buffett’s Berkshire Hathaway Inc. will invest $5 billion to bolster the company after losses tied to subprime mortgages drained capital. Bank of America led a rally of U.S. lenders in New York trading.

Please read more here.

Charlie and Maria Cardoso are among the millions of Americans who have experienced the misery and embarrassment that come with home foreclosure.

Just one problem: The Massachusetts couple paid for their future retirement home in Spring Hill, Florida with cash in 2005, five years before agents for Bank of America seized the house, removed belongings and changed the locks on the doors, according to a lawsuit the couple have filed in federal court.

Early last month, Charlie Cardoso had to drive to Florida to get his home back, the complaint filed in Massachusetts on Jan. 20 states.

The bank had an incorrect address on foreclosure documents — the house it meant to seize is across the street and about 10 doors down — but the Cardosos and a Realtor employed by Bank of America were unable to convince the company that it had the wrong house, the suit states.

"Their own real estate agent told them, and nevertheless Bank of America steamrolled right ahead," said Joseph deMello, an attorney in Taunton, Mass., who is representing the couple. "This is a nightmare for anyone, and it affected my hard-working clients a lot."

Please read more here.

Bank of America admitted to making six transactions that incorrectly hid from view billions of dollars of debt, following a bid to cut the size of a unit's balance sheet and meet internal financial targets.

The disclosure, made in a letter to the SEC, comes as the agency prepares to unveil the results of an inquiry into banks' accounting for borrowing deals known as repurchase agreements, or "repos."

More details of Bank of America's creative accounting may be found in the Wall Street Journal.

This is simply one of many reasons why this bank is number two on the list of LEAST Trustworthy Companies In America.

Following up on my recent blog article Bank of America Wire Transfer: Missing in Cyberspace!, I've been doing some research on safe places to do my banking.

I came across an annual survey of banks in Global Finance Magazine: The World's Safest Banks . Global Finance selects the world's safest banks - the 50 financial institutions with the highest ratings from the leading credit ratings agencies.

Newly arrived in the top echelon of the world's safest banks, for example, are Royal Bank of Canada (#10) and Spain's Banco Santander (#9). These two newcomers have been recognized for having taken a more cautious approach to risk than some of their competitors. Amid the turmoil of the past two years, their risk management practices have clearly paid off.

Deutsche Bank (#29) held its position on this list. JPMorgan Chase (#45) managed to move up one place. These two banks starkly outperformed rivals such as Bank of America, Citigroup, Barclays and Royal Bank of Scotland - which all lost their places among the world's safest banks.

There are not many American banks on this list of the safest banks in the world! After my recent experiences with Bank of America I am not surprised to learn that it is NOT on this list of the top 50 safest banks!