1. Bank of America Settles on Mortgage Securities
... 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 ... finalizing an investigation into abuses by the biggest mortgage abusers and are harassing banks to pay up to $30 billion in fines and penalties. Furth...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate