Bank of America says it will pay $8.5 billion to investors burned by fraudulent mortgage securities. The move represents the biggest reckoning of the 2008 financial crisis.
The settlement goes to nearly two dozen investors, including the Federal Reserve Bank of New York, Metlife and financial firms. Bank of America says the settlement is subject to court approval before it can be finalized.
Read the full article here:
BofA Settlement: $8.5B for Fraudulent Mortgages
Posted by EmploymentCrossing
on July 4, 2011. Filed under Home.
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