Emails released by a member of Anonymous relating to the supposed concealment of mortgage fraud by Bank of America. Due to extreme interest, the main site distributing the documents (bankofamericasuck.com) has been intermittently inaccessible. Also, a somewhat confusing presentation makes the actual emails themselves difficult for some people to interpret. Text renditions of the emails contained in the leak are presented.
Bank of America Corporation (“BAC”), a financial holding company headquartered in Charlotte, NC, is the largest domestic banking institution by asset size, providing commercial and retail banking services and other financial services in the United States and internationally.
Upon consummation of the merger, based on current projections for both firms, the combined entity would have an 8.6% Tier I risk based capital ratio and a Tier 1 leverage ratio of 5.2%. However, the amount of tangible common equity at the combined firms will be among the lowest of the large BHC at 2.2% on day one of the acquisition.