1. Bank of America Settles on Mortgage Securities
... 20 investors, including asset managers Pimco, Metropolitan Life and BlackRock, as well as the Federal Reserve Bank of New York. They hold a combined $100 billion in home loans from mortgage-backed securities from Bank of America, the nation's biggest bank by assets. The securities affected by the deal come from Countrywide Financial, the subprime mortgage lender whose practices have come to symbolize the excesses ... 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 a...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate