1. Bank of America Settles on Mortgage Securities
... losses that this deal would cause in the beginning of the next fiscal year, Bank of America is finalizing an agreement to pay $8.5 billion to settle claims by investors that purchased mortgage securities that went awry when the housing market took a turn 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 ... ...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate