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26 Oct 07

BofA exiting wholesale mortgage lending

  • Bank of America Corp. will lay off 700 workers as part of a plan to exit consumer wholesale mortgage lending by the end of the year and make more loans through the retail channel.
    The layoffs are part of 3,000 job cuts announced earlier this week, mostly in the global corporate and investment banking division.     - financeweek on 2007-10-26
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