1. Bank of America Settles on Mortgage Securities
... 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 most significant step since the financial crisis that ... America acquired Countrywide in 2008 (Schwartz). The settlement also covers almost all of $424 billion in mortgages that were issued by Countrywide, which were packaged into mortgage bonds at the time...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate