1. Bank of America Settles on Mortgage Securities
... for the worst. This deal could potentially be the single biggest settlement after the economic crisis that began in 2008 (Schwartz). "I think this is huge," said Michael Mayo, a bank analyst with Credit Agricole in New York. "It's about time the industry resolves issues from the financial crisis and focuses more on righting their companies and improving the economy. This is the ... up to $30 billion in fines and penalties. Furthermore, insurance companies that backed the mortgage-backed securities are also looking for reimbursement. They say that the original mortgages were underwritten...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate