1. Bank of America Settles on Mortgage Securities
... ," 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 helps do that" (Schwartz). Although this deal would right a lot of wrong, it would come at a great cost ... of the major banks. Prior to this settlement, Bank of America paid out or set aside approximately $17 billion. The bank is expected to announce that it will set aside even more money for future losses on m...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate