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Bank of America agrees to nearly $17 billion settlement | |
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August 21, 2014 The government has reached a $16.65 billion settlement with Bank of America over its role in the sale of mortgage-backed securities in the run-up to the financial crisis, the Justice Department announced Thursday.The deal calls for the bank, the second-largest in the U.S., to pay a $5 billion cash penalty, another $4.6 billion in remediation payments and provide about $7 billion in relief to struggling homeowners. Source: http://www.dailyherald.com/article/20140821/business/140829677/ |
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