1. Bank of America Settles on Mortgage Securities
... this settlement, Bank of America paid out or set aside approximately $17 billion. The bank is expected to announce that it will set aside even more money for future losses on mortgage securities after the settlement is completely paid off (Schwartz). Paul Miller of FBR Capital Markets projects that Chase could expect to lose $11.2 billion, Wells Fargo could lose up ... ). Both sides of the settlement hope to have it finalized by June 29th. However, once Bank of America's board approves the settlement, court approval is needed in New York. Bank of America is expected to take a $5 billion ...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate