1. Bank of America Settles on Mortgage Securities
... 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 ... the subprime mortgage lender whose practices have come to symbolize the excesses of the housing boom. Bank of America acquired Countrywide in 2008 (Schwartz). The settlement also covers almost all of $424...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate