1. Bank of America Settles on Mortgage Securities
Despite the huge 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 ... sell stock to find the money for the settlement. They do not anticipate having to do so, but they do face other troubles. All 50 state attorneys general are finalizing an investigation into abuses by the biggest mortgage abusers and are harassing banks to pay up to $30 billio...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate