Bank of America (NYSE: BAC TYO: 8648), the largest commercial bank in the United States, will cease to make private student loans. The bank didn't comment the situation.
Bank of America joins Citigroup Inc., SLM Corp. and other lenders who are tightening loan criteria. The move is reported to be unprofitable due to rising borrowing costs, cuts in government subsidies for loans and a lack of investor.
The Charlotte, North Carolina-based bank will go on offering government-backed loans, which constituted more than 85 percent of its $6 billion in student lending last year.
Putin's official spokesman Dmitry Peskov commented on remarks in the US media about failures in launching nuclear-capable missiles in Russia
More than 5.8 million people voted for Nicholas Maduro at the presidential election in Venezuela. This is more than a quarter of registered voters. Why did those people vote for the man, who, as Western media write, took Venezuela to the brink of collapse?
It has long been understood that the West has been trying to subject Russian borders to total control. We have not seen such activity even during the Cold War